Archive forJune, 2012

NorthStar Realty Finance to Present at NAREIT’s REITWeek 2012 Investor Forum …

NEW YORK, June 7, 2012 /PRNewswire via COMTEX/ —
NorthStar Realty Finance Corp.

/quotes/zigman/359497/quotes/nls/nrf NRF
+0.40%



(the “Company”) today announced that it will be making a presentation, led by Al Tylis, Co-President and Chief Operating Officer, at the NAREIT REITWeek 2012 Investor Forum to be held in New York City, NY on June 13, 2012, at 10:15 a.m. Eastern Time.

A live audio webcast of the presentation will be available on NorthStar’s website at
http://www.nrfc.com . A replay of the presentation will be available within 24 hours of the live presentation and will be accessible for 60 days.

About NorthStar Realty Finance Corp.

NorthStar Realty Finance Corp. is a finance real estate investment trust that originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties. In addition, NorthStar engages in asset management and other activities related to real estate and real estate finance.

SOURCE NorthStar Realty Finance Corp.

Copyright (C) 2012 PR Newswire. All rights reserved

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NRF

Northstar Realty Finance Corp.

US

: U.S.: NYSE


$
5.06

+0.02
+0.40%

Volume: 141,476
June 13, 2012 11:33a

P/E RatioN/A
Dividend Yield11.83%

Market Cap$672.14 million
Rev. per Employee$5.58M

Financial Glossary

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TEXT-Fitch cuts 234 Spanish structured finance tranches

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  • Link to Fitch Ratings Report: Fitch Downgrades 234 Spanish Structured Finance
    Tranches on Sovereign DowngradeJune 8 – Fitch Ratings has downgraded 234 tranches (150 RMBS, 58 Structured
    Credit, 23 ABS and three CMBS) related to 156 Spanish structured…

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Spain Aid Bid Looms as Euro Finance Chiefs Plan Weekend Talks

(For more on Europes debt crisis, click on TOP CRIS.)

June 8 (Bloomberg) — Spanish Prime Minister Mariano Rajoy said for the first time hes discussing with European leaders how to shore up the countrys banks as euro finance chiefs plan to hold weekend talks on a possible aid package.

A request for help may come as soon as tomorrow during a conference call among finance ministers, said a German government official who declined to be identified because the matter is confidential.

Rajoy said late yesterday hes spoken to colleagues in the European Union and that, once he has estimates from international consultants on banks capital needs, the government will find the formula for the financing of the capitalization of the banking sector.

Rajoy spoke minutes before Fitch downgraded Spain by three levels to BBB, within two steps of non-investment grade. Fitch said the cost to the state of shoring up banks may amount to as much as 100 billion euros ($126 billion) in the worst case, compared with its previous estimate of 30 billion euros, as Spain will remain in recession next year.

Spain is trying to overcome German opposition to allowing the euro regions bailout funds to sidestep governments and recapitalize lenders directly. The Treasurys access to capital markets is narrowing as it increasingly depends on domestic banks to buy its bonds, reducing the governments ability to backstop struggling lenders.

External Help

The ratings agencies are clearly reflecting whats been going on in Spain during the past few weeks, said David Keeble, head of fixed-income strategy at Credit Agricole Corporate amp; Investment Bank in New York. What really matters is the political will to sort things out: quite clearly Spain is going to need external help.

Spains 10-year bond yields rose to 6.237 percent from 6.088 percent yesterday, moving back toward the 7 percent threshold that triggered bailouts in Greece, Ireland and Portugal. The Treasury met its issuance goal at a bond auction, yesterday selling 2.07 billion euros of securities, surpassing the maximum target of 2 billion euros.

Rajoy said he wouldnt give estimates on how much capital the nations lenders need until he has results from reports by consultants Roland Berger and Oliver Wyman, due in the second half of June, and from the International Monetary Fund, which the government says will be published on June 11.

After that I will give my figure and the government will say what the financial system needs to be recapitalized, he told a Madrid news conference with the Dutch premier, Mark Rutte. Ive been talking to my European Union colleagues and to Prime Minister Rutte to take a decision on this matter.

EPP Estimate

Spanish banks may need as much as 100 billion euros in aid, which could be funneled through the nations bank-bailout fund, Antonio Lopez Isturiz, the general secretary of the European Peoples Party, said in an interview with TVE in Madrid yesterday. The EPP brings together the national parties of both Rajoy and German Chancellor Angela Merkel. Lopez Isturiz used to work with former Spanish Prime Minister Jose Maria Aznar.

Standard amp; Poors said yesterday its base-case scenario has Spanish banks showing loan losses of 80 billion euros to 112 billion euros this year and next. Fitch said government support of 60 billion euros for the banks would help push the nations debt load to 95 percent of gross domestic product in 2015. Spain went into the crisis with a debt-to-GDP ratio of 36 percent in 2007.

Pressure is building on Spain to take some kind of bailout. European Central Bank Governing Council member Ewald Nowotny said June 6 it would be a sensible option for Spain to request funds from the European rescue fund. Dutch Finance Minister Jan Kees de Jager said Spain needs to recapitalize some of its banks and can borrow European money to do so.

–With assistance from David Goodman in London. Editors: James Hertling, John Fraher

To contact the reporters on this story: Emma Ross-Thomas in Madrid at erossthomas@bloomberg.net; Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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NorthStar Realty Finance Announces Pricing of Private Offering of $75 Million …

NEW YORK, June 7, 2012 /PRNewswire via COMTEX/ —
NorthStar Realty Finance Corp. (the “Company”)

/quotes/zigman/359497/quotes/nls/nrf NRF
+0.20%



today announced that NorthStar Realty Finance Limited Partnership, the operating partnership through which the Company conducts its operations, has priced a private offering of $75 million aggregate principal amount of the operating partnership’s 8.875% exchangeable senior notes due 2032 (the “Notes”). The operating partnership has granted to the initial purchasers of the Notes a 30-day option to purchase up to an additional $11.25 million aggregate principal amount of Notes solely to cover over-allotments, if any.

The Notes will be senior unsecured obligations of the operating partnership, exchangeable for cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock, at the operating partnership’s option. The initial exchange rate for the Notes will be 166.5515 shares per $1,000 principal amount of Notes and the initial exchange price will be $6.00 per share of the Company’s common stock. The initial exchange rate and initial exchange price are subject to adjustment in certain circumstances. Each of the Company and NRFC Sub-REIT Corp., a subsidiary of the operating partnership, has guaranteed the payment of amounts due on the Notes.

The Company expects to use the net proceeds from the sale of the Notes to make investments relating to its business, repurchase or pay its liabilities and for general corporate purposes.

Prior to June 15, 2019, the operating partnership may not redeem the Notes except at any time or from time-to-time to preserve the Company’s qualification as a real estate investment trust, and on or after June 15, 2019, the operating partnership may redeem for cash all or part of the Notes at any time, in each case, at 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, if any, to but excluding the redemption date.

The notes will be sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Notes, the guarantee thereon and any shares of the Company’s common stock that may be issued upon exchange of the Notes have not been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws. The Company has agreed to file a registration statement to cover re-sales of the shares of common stock of the Company issuable upon exchange of the Notes with the Securities and Exchange Commission within 120 days of the closing of this private offering.

This release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About NorthStar Realty Finance Corp.

NorthStar Realty Finance Corp. is a finance real estate investment trust that originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties. In addition, the Company engages in asset management and other activities related to real estate and real estate finance.

Safe-Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words like “expect,” “will,” “intend” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in economic conditions generally and the real estate and bond markets specifically, completion of the offering on the terms described in the offering materials, if at all, and use of proceeds from the sale of the notes. Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, and its other filings with the SEC. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

SOURCE NorthStar Realty Finance Corp.

Copyright (C) 2012 PR Newswire. All rights reserved

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NRF

Northstar Realty Finance Corp.

US

: U.S.: NYSE


$
5.04

+0.01
+0.20%

Volume: 1.94M
June 8, 2012 4:00p

P/E RatioN/A
Dividend Yield11.90%

Market Cap$670.81 million
Rev. per Employee$5.58M

Financial Glossary

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Fifth Street Finance Corporation Named Top Dividend Stock With Insider Buying …

In this series, we look through the most recent Dividend Channel “DividendRank” report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider’s view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is Fifth Street Finance Corporation (NASD: FSC), which saw buying by CEO Leonard M. Tannenbaum.

Click here to find out The Top DividendRank’ed Stocks With Insider Buying raquo;

Back on May 24, Tannenbaum invested $92,899.97 into 10,000 shares of FSC, for a cost per share of $9.29. In trading on Wednesday, shares were changing hands as low as $9.36 per share, which is 0.8% above Tannenbaum’s purchase price. Fifth Street Finance Corporation shares are currently trading +1.06% on the day. The chart below shows the one year performance of FSC shares, versus its 200 day moving average:

Looking at the chart above, FSC’s low point in its 52 week range is $8.99 per share, with $10.60 as the 52 week high point — that compares with a last trade of $9.56. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

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