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Fannie Mae Prices $783 Million Multifamily DUS REMIC (FNA 2020-M52) Under Its GeMS Program

PR Newswire

WASHINGTON, Nov. 13, 2020 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) priced a $783 million Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on November 10, 2020. FNA 2020-M52 marks the tenth Fannie Mae GeMS issuance of 2020.

“In a week marked by market uncertainty, rate volatility, and climbing COVID-19 numbers, we were pleased with the execution of the M52,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. “This deal brought our total GeMS issuance for 2020 to $8.5 billion, which represents only a fraction of the entire FNA market this year as ACES issuance hit record levels. With one more month of issuance to go, the combined GeMS and ACES volumes have reached $26.3 billion over 50 deals. The program allows investors and broker dealers to structure REMICs with their own DUS collateral – a flexibility that has been particularly helpful to liquidity given the year’s rate environment. As we head into December and prepare to close the books on 2020, we would like to express our appreciation for the support of our GeMS investor community and the broker dealer network.”

All classes of FNA 2020-M52 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal. The structure details for the multi-tranche offering can be found in the table below:


Class


Original Face


Weighted Average Life


Coupon (%)


Coupon Type


Spread


Offered


Price


APT

$121,669,043

5.10

0.864

Fixed

Not Offered

Not Offered


X1

$121,669,043

4.98

2.472

WAC IO

Not Offered

Not Offered


A1

$85,100,000

5.77

0.878

Fixed

S+29

100


A2

$501,596,201

9.76

1.319

WAC

S+39

100.07


A3

$75,000,000

9.83

1.200

Fixed

S+35

99.11


X

$85,100,000

5.75

0.441

WAC IO

Not Offered

Not Offered


X3

$75,000,000

9.33

0.119

WAC IO

Not Offered

Not Offered


Total


$783,365,244

 



Group 1 Collateral


UPB:

$3,150,550,015


Collateral: 

4 REMIC Certificates (199 Fannie Mae DUS MBS)


Underlying REMIC Trust/Class 1:

FNA 2019-M1-A1


Original Principal of Contributed Portion of Class: 

$79,805,000


Geographic Distribution: 

CA (24.89%), GA (22.19%), FL (19.91%)


Underlying REMIC Trust/Class 2: 

FNA 2018-M4-A1


Original Principal of Contributed Portion of Class: 

$30,500,000


Geographic Distribution: 

FL (27.37%), TX (11.77%), LA (8.89%)


Underlying REMIC Trust/Class 3: 

FNA 2018-M14-A2


Original Principal of Contributed Portion of Class: 

$25,000,000


Geographic Distribution: 

CA (44.26%), FL (9.59%), MD (8.05%)


Underlying REMIC Trust/Class 4: 

FNA 2018-M10-A1


Original Principal of Contributed Portion of Class: 

$1,600,000


Geographic Distribution: 

CA (27.94%), TX (9.14%), NC (9.01%)


Weighted Average Debt Service Coverage Ratio (DSCR): 

1.88x


Weighted Average Loan-to-Value (LTV): 

64.5%



Group 2 Collateral


UPB: 

$661,696,201


Collateral: 

132 Fannie Mae DUS MBS


Geographic Distribution: 

CA (29.6%), GA (11.0%), FL (9.07%)


Weighted Average Debt Service Coverage Ratio (DSCR): 

2.48x


Weighted Average Loan-to-Value (LTV): 

59.6%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2020-M52) available on the Fannie Mae GeMS Archive page.

About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

Fannie Mae Newsroom

https://www.fanniemae.com/news

Photo of Fannie Mae

https://www.fanniemae.com/resources/img/about-fm/fm-building.tif

Fannie Mae Resource Center
1-800-2FANNIE

Certain statements in this release may be considered forward-looking statements within the meaning of federal securities laws. In addition, not all securities will have the characteristics discussed in this release. Before investing in any Fannie Mae issued security, you should read the prospectus and prospectus supplement pursuant to which such security is offered. You should also read our most current Annual Report on Form 10-K and our reports on Form 10-Q and Form 8-K filed with the U.S. Securities and Exchange Commission (“SEC”) available on the Investor Relations page of our Web site at www.fanniemae.com and on the SEC’s Web site at www.sec.gov.

Cision View original content:http://www.prnewswire.com/news-releases/fannie-mae-prices-783-million-multifamily-dus-remic-fna-2020-m52-under-its-gems-program-301172880.html

SOURCE Fannie Mae

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Tuscan Holdings Corp. Announces Intent to Combine With Microvast Inc.

PR Newswire

NEW YORK, Nov. 13, 2020 /PRNewswire/ — Tuscan Holdings Corp. (Nasdaq: THCB) (“Tuscan”) today confirmed that it has signed a letter of intent (“LOI”) related to a business combination with Microvast Inc., a market leading provider of next-generation battery technologies for commercial and specialty use electric vehicles (“Microvast” or the “Company”). 

Founded by Yang Wu in 2006, Microvast is focused on driving mass adoption EVs and its battery technology boasts best-in-class charging speed, battery life, energy density and safety performance. The Company has been an innovative industry leader for over a decade and has clear visibility to future growth from its existing pipeline across commercial markets including e-buses, vans, trucks, passenger vehicles, automated guided vehicles, forklifts and mining trucks.  Microvast is a vertically integrated battery technology company with R&D and production capabilities that span cell chemistries, materials, cells, modules and packs.  In addition, Microvast has an industry leading manufacturing price point for batteries with ongoing further improvements in development.

Tuscan also announced that in connection with the intended transaction with Microvast, Ahmed Fattouh and Brian Pham of InterPrivate Capital are acting as Senior Advisors to Tuscan. Mr. Fattouh and Mr. Pham, who  have prior experience in automotive technology as SPAC sponsors, will continue to advise the Tuscan team through the business combination.

“Microvast has a compelling financial profile, with significant historical revenues as well as projected growth and profitability.  With its battery technology installed in over 28,000 vehicles worldwide, an impressive,  growing list of global OEM customers, and a strategic partnership with Fiat Power Train Industrial, Microvast is a proven technology leader driving the mass adoption of EVs.  We are excited to partner with Mr. Wu and his experienced team and believe the valuation negotiated provides long term intrinsic value to Tuscan shareholders.  We look forward to supporting Microvast in its next phase of growth as a public company,” said Stephen Vogel, Chairman and CEO of Tuscan.

Yang Wu, Microvast’s founder, Chairman and CEO added: “Our potential transition into a public company will help continue to fuel our design and development of market-leading ultra-fast charging, long-life battery power systems. Microvast expects to generate over $100 million of revenue this financial year. With the automotive technology experience and capital this transaction with Tuscan is intended to provide, we are confident we can build upon our established success and accelerate our growth in the electric vehicle battery industry.”

Completion of the transaction is subject to, among other things, the execution of a definitive agreement, approval by the two companies’ boards, satisfaction of customary closing conditions and approval of the transaction by each company’s shareholders. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms currently contemplated or at all.

Additional Information and Where to Find It

Additional information regarding Microvast can be found on the Company’s website www.microvast.com 

If a legally binding definitive agreement is entered into, a full description of the terms of the transaction will be provided in a registration statement and/or a proxy statement of Tuscan (the “Transaction Proxy Statement”), to be filed with the U.S. Securities and Exchange Commission (the “SEC”). Tuscan urges investors, stockholders and other interested persons to read, when available, the preliminary Transaction Proxy Statement as well as other documents filed with the SEC because these documents will contain important information about Tuscan, Microvast and the transaction.

Investors and security holders of Tuscan are advised to read, when available, the preliminary Transaction Proxy Statement and definitive Transaction Proxy Statement, and any amendments thereto, because these documents will contain important information about proposed transaction. The definitive Transaction Proxy Statement will be mailed to Tuscan’s stockholders of record as of a record date to be established for the special meeting of stockholders relating to the proposed transaction. Stockholders will also be able to obtain copies of the Transaction Proxy Statement, without charge, once available, at the SEC’s website at www.sec.gov or by directing a request to:  Tuscan Holdings, Corp., 135 E. 57th St., 17th Floor, New York, NY 10022.

Forward Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Tuscan’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability of Tuscan to enter into a definitive agreement with respect to the proposed business combination with Microvast or to complete the contemplated transaction; matters discovered by Tuscan or Microvast as they complete their respective due diligence investigation of the other; the impact of COVID-19 on Tuscan or Microvast; the risk that the approval of the stockholders of Tuscan for the potential transaction is not obtained; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of funds available in Tuscan’s trust account following any redemptions by Tuscan stockholders; the ability to meet Nasdaq’s listing requirements following the consummation of the transaction; costs related to the proposed transaction; and those factors discussed in Tuscan’s prospectus relating to its initial public offering filed with the SEC. Tuscan does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Participants in the Solicitation

Tuscan and its directors and executive officers may be considered participants in the solicitation of proxies with respect to the potential transaction described herein under the rules of the SEC. Information about the directors and executive officers of Tuscan and a description of their interests in Tuscan will be set forth in the Transaction Proxy Statement when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Non-Solicitation

The disclosure herein is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Tuscan, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a definitive document.

Contacts

Tuscan Holdings Corp.:
Stephen Vogel
Chairman & CEO
Email: [email protected]

Media / Investors:
Ashish Gupta
Investor Relations
Telephone: 646-677-1875  
Email: [email protected]

 

 

Cision View original content:http://www.prnewswire.com/news-releases/tuscan-holdings-corp-announces-intent-to-combine-with-microvast-inc-301172882.html

SOURCE Tuscan Holdings Corp.

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SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of TNAV, ALSK, EIGI, and DNKN Buyouts

WILMINGTON, Del., Nov. 13, 2020 (GLOBE NEWSWIRE) — Rigrodsky & Long, P.A. announces that it is investigating:

Telenav
,
Inc. (N
ASDAQ GS:

TNAV

) regarding possible breaches of fiduciary duties and other violations of law related to Telenav’s agreement to be acquired by V99, Inc. Under the terms of the agreement Telenav’s shareholders will receive $4.80 in cash per share. To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-telenav-inc.

Alaska Communications Systems Group, Inc
. (NASDAQ G
S:

ALSK

) regarding possible breaches of fiduciary duties and other violations of law related to Alaska Communications’ agreement to be acquired by affiliates of GCM Grosvenor. Under the terms of the agreement, Alaska Communications’ shareholders will receive $3.00 in cash per share. To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-alaska-communications-systems-group-inc.

Endurance International Group Holdings, Inc
. (N
ASDAQ GS:

EIGI

) regarding possible breaches of fiduciary duties and other violations of law related to Endurance International’s agreement to be acquired by affiliates of Clearlake Capital Group L.P. Under the terms of the agreement, Endurance International’s shareholders will receive $9.50 in cash per share. To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-endurance-international-group-holdings-inc.

Dunkin’ Brands Group
, Inc. (NASDAQ GS
:

DNKN

) regarding possible breaches of fiduciary duties and other violations of law related to Dunkin’ Brands’ agreement to be acquired by Inspire Brands, Inc. Under the terms of the agreement, Dunkin’ Brands’ shareholders will $106.50 in cash per share. To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-dunkin-brands-group-inc.

You may also contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or [email protected].

Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT:         

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
[email protected]
https://rl-legal.com



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Bluedrop Amongst Firsts for Technology Leadership Accelerated Ocean Solutions Project With Its State-of-the-Art Hoist Mission Training System

Bluedrop Amongst Firsts for Technology Leadership Accelerated Ocean Solutions Project With Its State-of-the-Art Hoist Mission Training System

ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–BPLI Holdings (TSX-V: BPLI) and its subsidiary Bluedrop Training & Simulation (“Bluedrop”) are pleased to announce that it has signed a Technology Leadership Project Agreement as part of the Canadian Ocean Supercluster’s Accelerated Ocean Solutions Project to deliver its innovative Hoist Mission Training System (HMTS) for full crew Search and Rescue (SAR) helicopter mission simulation over marine environment.

This project will deliver a new device and capability to train SAR operators under realistic mission scenarios including turbulent flow zones, sea state, complex ship and offshore installation geometries and rescue rafts while simulating the full array of east coast Canada and arctic harsh environmental conditions.

With a total project value of $2,058,616, the Ocean Supercluster will provide $1,029,308 in funding for the project with the balance in funding coming from industry. The Marine SAR Helicopter Mission Simulation Project is led by Bluedrop Training and Simulation partnered with Cougar Helicopters and the Marine Institute of Memorial University of Newfoundland to offer the new hoist simulator training for all SAR operators requiring specialized training in marine, offshore oil and gas, arctic and general harsh ocean operating environments.

With nearly seventy per cent of search and rescue occurring in marine environments, this project will directly increase the safety of personnel working in ocean sectors and improve the quality of decision making and operational intelligence of real-time marine operations. This will represent the first training device to provide realistic simulation of performing a hoist over oceans, various support vessels and offshore platforms, using state of the art virtual simulation that leverages data analytics and Artificial Intelligence to provide best in class, real-time feedback and adaptive learning for ocean rescue activity with global applications.

Canada’s Ocean Supercluster is an industry-led transformative cluster focused on tackling the shared challenges across ocean sectors through a collaborative program designed to accelerate the development and commercialization of globally-relevant solutions, while also building a highly-capable, inclusive workforce. To encourage innovation and trigger new industry investment during these challenging times, the Ocean Supercluster supplemented its core programs with an additional project stream called Accelerated Ocean Solutions Program (AOSP). This enables the development of smaller projects on a shorter timeline that deliver tangible outcomes, while continuing to build resiliency in our ocean sectors.

“I am thrilled to see Canada’s Ocean Supercluster building such momentum, adding three new and highly-innovative projects to its Accelerated Ocean Solutions Program. By investing in Made-in-Canada technologies and solutions, like the Marine SAR Helicopter Mission Simulation Project, Superclusters are energizing the ocean sector ecosystem, which is really exciting for Canada. This kind of cross-sector collaboration is what will make the difference in pushing Canada further in the ocean technology market.”The Honourable Navdeep Bains, Minister of Innovation, Science, and Industry

“By working together, Bluedrop Training and Simulation, Cougar Helicopters, and the Marine Institute of Memorial University of Newfoundland will develop and commercialize the first device to leverage data analytics and Artificial Intelligence in the delivery of realistic and adaptive training for marine search and rescue teams. We are excited to see our members come together to collaborate and solve shared ocean challenges.” Kendra MacDonald, CEO, Canada’s Ocean Supercluster

‘The project will enable Bluedrop to offer a new Sikorski S92 Hoist Mission Training Simulator (HMTS) for all SAR operators requiring specialization in arctic, offshore and marine operations. The expertise of each team member will provide a new training service and will guarantee quality training and state-of-the-art virtual simulation technology to meet this operational requirement.” Derrick Rowe, CEO of Bluedrop Training & Simulation.

“The HMTS will be installed at Cougar Helicopter’s facility in St. John’s, where Cougar’s team of professionals provide 24/7/365 SAR capabilities to its offshore oil and gas clients using a dedicated and specially configured Sikorsky S92 helicopter. Cougar’s operational experts will help define new training qualification and safety standards.” Hank Williams, COO of Cougar Helicopters

“The graduate students and postdocs from Memorial University of Newfoundland who will be contributing to this project will have the unique opportunity to benefit from industry collaboration experience. Students will be primarily housed in the Ocean Safety Lab at the Marine Institute of Memorial Universityof Newfoundland. A diversity of students are actively being recruited including qualified female, aboriginal and ethnically diverse candidates.” Dr. Heather Carnahan, MI, School of Maritime Studies.

About Bluedrop Training & Simulation

Bluedrop Training & Simulation designs and develops advanced training systems and state-of-the-art simulation products to safely train operators and maintainers of complex equipment. Our approach leverages innovative technology to provide cost-effective blended-media training content, from classroom instruction and computer-based training (CBT) through to high-fidelity training devices. Bluedrop Training & Simulation is a small to medium-sized enterprise (SME) providing a strong value proposition offering 100% Canadian designed and developed solutions.

For more information about Bluedrop Training & Simulation, visit www.bluedropts.com

About BPLI Holdings Inc.

BPLI Holdings Inc. (TSX-V: BPLI) is the holding company for its investments in Bluedrop Training and Simulation and Bluedrop Learning Networks. Our companies are innovators in both the development of workplace e-learning and simulation as well as the way large organizations deliver, track and manage training. Our two divisions serve the world’s leading aerospace and defence organizations as well as broad cross sections of organizations focused on managing system wide health and safety and developing the skills of external workforces. BPLI is creating the workforce of the future by improving the effectiveness, speed and cost of training delivery and management. For more information, visit www.bpli.ca. You can follow us on Twitter: @Bluedrop_BPL.

This news release may contain “forward-looking information” as defined in applicable Canadian securities legislation. All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding the impact of the operational restructuring and future plans and objectives of the Corporation, constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the operational efficiencies associated with the integration of technological and financial systems and general economic and market conditions. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from BPLI’s expectations include general global economic conditions, including but limited to, the ongoing COVID-19 pandemic. For additional information with respect to risk factors applicable to BPLI, reference should be made to BPLI’s continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, BPLI’s Management’s Discussion and Analysis of Results of Operations and Financial Condition for the quarter ended June 30, 2020. The forward-looking information contained in this release is made as of the date of this release and BPLI does not undertake to update publicly or revise the forward-looking information contained in this release, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Bernie Beckett

Treasurer & Corporate Secretary

BPLI Holdings Inc.

[email protected]

Phone: 709-739-4938

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Education Technology Mobile/Wireless Software Other Education Continuing Internet

MEDIA:

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LSB Industries to Participate in Sidoti Virtual Microcap Conference on Thursday, November 19th

LSB Industries to Participate in Sidoti Virtual Microcap Conference on Thursday, November 19th

OKLAHOMA CITY–(BUSINESS WIRE)–
LSB Industries, Inc. (“LSB”), (NYSE: LXU), today announced that its Executive Vice President & CFO, Cheryl Maguire will participate in a fireside chat during the Sidoti Virtual Microcap Conference on Thursday, November 19, 2020 at 1:00 pm ET.

Ms. Maguire will be available for one-on-one meetings all day. To schedule a meeting please contact your Sidoti institutional sales representative or Fred Buonocore at [email protected].

A live webcast of the fireside chat will be available in the Investors section of the Company’s website, and at https://sidoti.zoom.us/webinar/register/WN_w86QU1JjSKiGXOLfzkUGNA . An archived recording of this will also be available following the live webcast in the investor relations section of the company’s website at www.lsbindustries.com.

About LSB Industries, Inc.

LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma, manufactures and sells chemical products for the agricultural, mining, and industrial markets. The Company owns and operates facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma, and operates a facility for a global chemical company in Baytown, Texas. LSB’s products are sold through distributors and directly to end customers throughout the United States. Additional information about the Company can be found on its website at www.lsbindustries.com.

LSB Contact:

Mark Behrman, President & CEO

Cheryl Maguire, Executive Vice President & CFO

(405) 235-4546

Investor Relations Contact:

Fred Buonocore, CFA (212) 836-9607

Michael Gaudreau (212) 836-9620

The Equity Group Inc.

KEYWORDS: United States North America Oklahoma

INDUSTRY KEYWORDS: Commercial Building & Real Estate Agriculture Construction & Property Natural Resources Engineering Chemicals/Plastics Other Construction & Property Manufacturing

MEDIA:

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Heritage to Participate in Virtual Investor Conferences

PR Newswire

CLEARWATER, Fla., Nov. 13, 2020 /PRNewswire/ — Heritage Insurance Holdings, Inc. (NYSE: HRTG) (“Heritage” or the “Company”), a super-regional property and casualty insurance holding company, announced today that Arash Soleimani, Executive Vice President, will participate in the Southwest IDEAS and Sidoti & Company virtual investor conferences on Wednesday, November 18th, 2020 and Thursday, November 19th, 2020, respectively.

Financial information, including material announcements about Heritage, is routinely posted on investors.heritagepci.com.


About Heritage

Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes over $1 billion of gross personal and commercial residential premium across its multi-state footprint.

HRTG Investor Contact:

Arash Soleimani, CFA, CPA
Executive Vice President
727.871.0206
Email: [email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/heritage-to-participate-in-virtual-investor-conferences-301172878.html

SOURCE Heritage Insurance Holdings, Inc.

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During Utility Scam Awareness Week and the Ongoing Impacts of the COVID-19 Pandemic, PG&E Urges Customers to Protect Themselves Against Scammers

During Utility Scam Awareness Week and the Ongoing Impacts of the COVID-19 Pandemic, PG&E Urges Customers to Protect Themselves Against Scammers

SAN FRANCISCO–(BUSINESS WIRE)–
Every day, electric and natural gas customers throughout the country are being targeted by utility scams. These imposters typically target customers online, in-person and by telephone. And, this year is even worse due to the ongoing financial impacts of the COVID-19 pandemic. PG&E is taking a stand against scammers by joining its fellow electric, natural gas, water utilities and Utilities United Against Scams (UUAS) in helping customers recognize potential bad actors during Utility Scam Awareness Week from November 16-23, 2020.

UUAS, a consortium of more than 145 U.S. and Canadian electric, water, and natural gas utilities and their respective trade associations, continues to create awareness of common scams and new scam tactics being used during the COVID-19 pandemic. Through its work, UUAS has succeeded in taking nearly 9,500 toll-free numbers used by scammers against utility customers out of operation.

“Scammers are constantly changing their tactics and tricks, so awareness is more important than ever to keep our customers safe,” said Laurie Giammona, PG&E’s chief customer officer. “If an email, visit to your home or phone call doesn’t feel right, don’t fall for it. Delete it, shut the door or hang up. And, as a reminder, PG&E will never ask for your financial information over the phone or via email.”

Throughout the COVID-19 pandemic, scammers have increased calls, texts, emails, and in-person tactics and are constantly contacting utility customers asking for immediate payment to avoid service disconnection. As a reminder, PG&E will never contact a customer for the first time within one hour of a service disconnection, and will never ask customers to make payments with a pre-paid debit card, gift card, any form of cryptocurrency, or third-party digital payment mobile applications.

“It is no surprise that scammers have been trying to take advantage of the anxiety of people coping with the pandemic,” said UUAS Founder and Executive Committee Chairman Jared Lawrence. “I am proud to report that UUAS’ education efforts and utilities’ well-publicized practices have prevented a large increase in victims. However, the continuing attempts by these criminals make it clear that we must continue to work to protect our customers.”

Scammers can be convincing and often target those who are most vulnerable, including senior citizens and low-income communities. They also aim their scams at small business owners during busy customer service hours. However, with the right information, customers can learn to detect and report these predatory scams.

Signs of a potential scam

  • Threat to disconnect: Scammers may aggressively demand immediate payment for an alleged past due bill.
  • Request for immediate payment: Scammers may instruct the customer to purchase a prepaid card then call them back supposedly to make a bill payment.
  • Request for prepaid card: When the customer calls back, the caller asks the customer for the prepaid card’s number, which grants the scammer instant access to the card’s funds.
  • Refund or rebate offers: Scammers may say that your utility company overbilled you and owes you a refund, or that you are entitled to a rebate.

How customers can protect themselves

Customers should never purchase a prepaid card to avoid service disconnection or shutoff. PG&E does not specify how customers should make a bill payment and offers a variety of ways to pay a bill, including accepting payments online, by phone, automatic bank draft, mail or in person at an authorized PG&E neighborhood payment center.

If a scammer threatens immediate disconnection or shutoff of service without prior notification, customers should hang up the phone, delete the email, or shut the door. Customers with delinquent accounts receive an advance disconnection notification, typically by mail and included with their regular monthly bill.

Signing up for an online account at pge.com is another safeguard. Not only can customers log in to check their balance and payment history, they can sign up for recurring payments, paperless billing and helpful alerts.

Scammers getting even “trickier”: Scammers are now able to create authentic-looking 800 numbers which appear on your phone display. The numbers don’t lead back to PG&E if called back, however, so if you have doubts, hang up and call PG&E at 1-800-743-5000. If customers ever feel that they are in physical danger, they should call 911.

Customers who suspect that they have been victims of fraud, or who feel threatened during contact with one of these scammers, should contact local law enforcement. The Federal Trade Commission’s website is also a good source of information about how to protect personal information.

UUAS is dedicated to combating impostor utility scams by providing a forum for utilities and trade associations to share data and best practices, in addition to working together to implement initiatives to inform and protect customers.

For more information about scams, visit www.pge.com and www.utilitiesunited.org.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy company in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.

MEDIA RELATIONS:

415-973-5930

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Other Energy Women Utilities Seniors Oil/Gas Men Energy Consumer

MEDIA:

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Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend

PR Newswire

CINCINNATI, Nov. 13, 2020 /PRNewswire/ — Cincinnati Financial Corporation (Nasdaq: CINF) announced that, at today’s regular meeting, the board of directors declared a 60-cents-per-share regular quarterly cash dividend. The dividend is payable January 15, 2021, to shareholders of record as of December 16, 2020.

Steven J. Johnston, chairman, president and chief executive officer, commented: “Regular dividends are the company’s primary method of returning capital to shareholders. We continue to see positive trends in our core insurance business, reflecting the strength of our agency relationships and demonstrating our associates’ steady dedication to executing on our strategy. Combining those positive trends with the company’s outstanding financial strength supports rewarding shareholders now, and in the future.”

About Cincinnati Financial

Cincinnati Financial Corporation offers primarily business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. For additional information about the company, please visit cinfin.com.

Mailing Address:

Street Address:

P.O. Box 145496

6200 South Gilmore Road

Cincinnati, Ohio 45250-5496

Fairfield, Ohio 45014-5141

Safe Harbor Statement

This is our “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995. Our business is subject to certain risks and uncertainties that may cause actual results to differ materially from those suggested by the forward-looking statements in this report. Some of those risks and uncertainties are discussed in our 2019 Annual Report on Form 10-K, Item 1A, Risk Factors, Page 35 and Item 1A, Risk Factors in our subsequent Quarterly Reports on Form 10-Q.

Factors that could cause or contribute to such differences include, but are not limited to:

  • Effects of the COVID-19 pandemic that could affect results for reasons such as: 
    • Securities market disruption or volatility and related effects such as decreased economic activity that affect the company’s investment portfolio and book value
    • An unusually high level of claims in our insurance or reinsurance operations that increase litigation-related expenses
    • An unusually high level of insurance losses, including risk of legislation or court decisions extending business interruption insurance in commercial property coverage forms to cover claims for pure economic loss related to the COVID-19 pandemic
    • Decreased premium revenue and cash flow from disruption to our distribution channel of independent agents, consumer self-isolation, travel limitations, business restrictions and decreased economic activity
    • Inability of our workforce, agencies or vendors to perform necessary business functions
  • Unusually high levels of catastrophe losses due to risk concentrations, changes in weather patterns, environmental events, terrorism incidents or other causes
  • Increased frequency and/or severity of claims or development of claims that are unforeseen at the time of policy issuance
  • Inadequate estimates, assumptions or reliance on third-party data used for critical accounting estimates
  • Declines in overall stock market values negatively affecting the company’s equity portfolio and book value
  • Prolonged low interest rate environment or other factors that limit the company’s ability to generate growth in investment income or interest rate fluctuations that result in declining values of fixed-maturity investments, including declines in accounts in which we hold bank-owned life insurance contract assets
  • Domestic and global events resulting in capital market or credit market uncertainty, followed by prolonged periods of economic instability or recession, that lead to:
    • Significant or prolonged decline in the fair value of a particular security or group of securities and impairment of the asset(s)
    • Significant decline in investment income due to reduced or eliminated dividend payouts from a particular security or group of securities
    • Significant rise in losses from surety and director and officer policies written for financial institutions or other insured entities
  • Our inability to integrate Cincinnati Global and its subsidiaries into our on-going operations, or disruptions to our on-going operations due to such integration
  • Recession or other economic conditions resulting in lower demand for insurance products or increased payment delinquencies
  • Difficulties with technology or data security breaches, including cyberattacks, that could negatively affect our ability to conduct business; disrupt our relationships with agents, policyholders and others; cause reputational damage, mitigation expenses and data loss and expose us to liability under federal and state laws
  • Disruption of the insurance market caused by technology innovations such as driverless cars that could decrease consumer demand for insurance products
  • Delays, inadequate data developed internally or from third parties, or performance inadequacies from ongoing development and implementation of underwriting and pricing methods, including telematics and other usage-based insurance methods, or technology projects and enhancements expected to increase our pricing accuracy, underwriting profit and competitiveness
  • Increased competition that could result in a significant reduction in the company’s premium volume
  • Changing consumer insurance-buying habits and consolidation of independent insurance agencies that could alter our competitive advantages
  • Inability to obtain adequate ceded reinsurance on acceptable terms, amount of reinsurance coverage purchased, financial strength of reinsurers and the potential for nonpayment or delay in payment by reinsurers
  • Inability to defer policy acquisition costs for any business segment if pricing and loss trends would lead management to conclude that segment could not achieve sustainable profitability
  • Inability of our subsidiaries to pay dividends consistent with current or past levels
  • Events or conditions that could weaken or harm the company’s relationships with its independent agencies and hamper opportunities to add new agencies, resulting in limitations on the company’s opportunities for growth, such as:
    • Downgrades of the company’s financial strength ratings
    • Concerns that doing business with the company is too difficult
    • Perceptions that the company’s level of service, particularly claims service, is no longer a distinguishing characteristic in the marketplace
    • Inability or unwillingness to nimbly develop and introduce coverage product updates and innovations that our competitors offer and consumers expect to find in the marketplace
  • Actions of insurance departments, state attorneys general or other regulatory agencies, including a change to a federal system of regulation from a state-based system, that:
    • Impose new obligations on us that increase our expenses or change the assumptions underlying our critical accounting estimates
    • Place the insurance industry under greater regulatory scrutiny or result in new statutes, rules and regulations
    • Restrict our ability to exit or reduce writings of unprofitable coverages or lines of business
    • Add assessments for guaranty funds, other insurance–related assessments or mandatory reinsurance arrangements; or that impair our ability to recover such assessments through future surcharges or other rate changes
    • Increase our provision for federal income taxes due to changes in tax law
    • Increase our other expenses
    • Limit our ability to set fair, adequate and reasonable rates
    • Place us at a disadvantage in the marketplace
    • Restrict our ability to execute our business model, including the way we compensate agents
  • Adverse outcomes from litigation or administrative proceedings
  • Events or actions, including unauthorized intentional circumvention of controls, that reduce the company’s future ability to maintain effective internal control over financial reporting under the Sarbanes-Oxley Act of 2002
  • Unforeseen departure of certain executive officers or other key employees due to retirement, health or other causes that could interrupt progress toward important strategic goals or diminish the effectiveness of certain longstanding relationships with insurance agents and others
  • Events, such as an epidemic, natural catastrophe or terrorism, that could hamper our ability to assemble our workforce at our headquarters location

Further, the company’s insurance businesses are subject to the effects of changing social, global, economic and regulatory environments. Public and regulatory initiatives have included efforts to adversely influence and restrict premium rates, restrict the ability to cancel policies, impose underwriting standards and expand overall regulation. The company also is subject to public and regulatory initiatives that can affect the market value for its common stock, such as measures affecting corporate financial reporting and governance. The ultimate changes and eventual effects, if any, of these initiatives are uncertain.

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SOURCE Cincinnati Financial Corporation

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OXE Marine AB distributor Diesel Outboards LLC confirmes order for more than 50 OXE300 from US government for deployment in Central America

PR Newswire

STOCKHOLM, Nov. 10, 2020 /PRNewswire/ — OXE Marine AB (the Company) distributor, Diesel Outboards LLC, announced today that Spartan Corporation a premier Dealer for Diesel Outboards LLC has been awarded a US Government multiyear contract to outfit and support operations in Central America.

The initial order received is for fifty (50) OXE300 and has been received and accepted from Spartan Corporation (a premium dealer for Diesel Outboards LLC). Spartan will also supply the full life cycle support, logistical support and maintenance within the contracted operational area in Central America as part of the parts/service/spares solutions.

Spartan Corp is answering the US government call to support interdiction operations in Central America to stem the tide of illicit operations in the region. This undertaking demands dependable and powerful engines to meet the requirements of peacekeepers. Spartan Corp has chosen the OXE Diesel outboards to provide engines to meet the challenges of this austere environment to ensure the success of this critical work.

“We are honored and thrilled to focus our experienced team on building a flagship sales and service operation as new OXE Diesel Dealers as part of the Diesel Outboards family in the Tampa Bay Area. Our team is ready to support the Government, Commercial, and private customers in the region.” Jess Loban Founder / CEO of Spartan Corp.

The OXE Diesel is designed and built for commercial users. Endurance, reliability, power and control is key. The world’s first commercial diesel outboard, the OXE Diesel combines, the reliability and endurance of marine inboards with the flexibility and agility of outboard engines, offering unprecedented efficiency, range and torque.

The OXE300 is the latest edition in the diesel outboard family from OXE Marine AB. The OXE300 is a bi-turbo configuration that provides its full 680Nm of torque at the crankshaft already at 1750rpm, at 1000rpm the engine provides over 500Nm at the crankshaft. These torque numbers provide end users with massive bollard pulling power as well as fast whole shot acceleration.

Spartan recently established a new facility to sell and service OXE Diesel outboards engines in St. Petersburg FL. They will be a fully stocked dealer offering technical and service support to the surrounding areas.

Diesel Outboards LLC, a division of the Outdoor Network. Outdoor Network LLC, are a premiere dealer and distributor powerhouse with one goal in mind: to get the user equipped with OEM equipment and parts and keep them running at the best pricing available, whether they need a completely new machine or just the parts in the fastest and efficient time possible. They service both retail and commercial accounts in over 120 countries.

Certified Adviser

FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ). Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail [email protected].

For further information, please contact:

Myron Mahendra, CEO, [email protected], +46 76 347 59 82
Anders Berg, Chairman, [email protected], +46 70 358 91 55

About OXE Marine AB

OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF) has, after several years of development, constructed the OXE Diesel, the world’s first diesel outboard engine in the high-power segment. The Company’s unique patented engine-to-propulsion power transmission solutions have led to high demand for the Company’s engines worldwide. 

This information was brought to you by Cision http://news.cision.com

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OXE back free

SOURCE OXE Marine AB

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Serena Ryder, The Trews to headline star-studded CP ‘Holiday Train at Home’ concert; Holiday Train approaches $20 million raised

PR Newswire

CALGARY, AB, Nov. 13, 2020 /PRNewswire/ – Serena Ryder and The Trews will headline CP’s 2020 “Holiday Train at Home” concert, which will stream on CP’s Facebook page on Dec. 12. The event will raise money and awareness and help local food banks collect much-needed donations.

The Dec. 12 concert, scheduled for 6 p.m. MT/8 p.m. ET, will also feature performances by JoJo Mason, Logan Staats and Kelly Prescott. CP Holiday Train fans will be able to view the concert by visiting facebook.com/canadian.pacific at the show’s start time. An archived version of the show will remain on the page for later viewing.

“For more than two decades, the CP family has supported Canadians and Americans in need through the CP Holiday Train program,” said CP President and CEO Keith Creel. “In a year full of challenge and loss, we will host this concert as a call to action for the train’s supporters to donate generously if they can this Christmas season. The spirit of the Holiday Train will come alive even though the train itself will not operate due to the COVID-19 pandemic.”

CP will donate $1.24 million this year to 201 food banks in communities that ordinarily host CP Holiday Train events. In a normal year, CP calls on attendees at local shows to make a cash or non-perishable food donation. With the “Holiday Train at Home” concert, CP hopes to inspire donations from across North America even though local shows won’t occur. Viewers seeking to donate will be directed to Food Banks Canada and Feeding America, the national organizations that support community food banks in their respective countries. Viewers are also encouraged to give to their local food bank.

“I’m so excited to be part of the virtual CP Holiday Train this year, helping raise awareness and funds for local food banks in this time of extraordinary need,” headliner Serena Ryder said. “Watch the concert on Dec. 12, and if you can, please give a little bit to support those in need!”

CP’s 2020 corporate donation will bring the total amount of money raised at CP Holiday Train stops to $19.05 million since the train’s inception in 1999. Food banks have also collected 4.8 million pounds of food donations at local Holiday Train events.

About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP.

Cision View original content:http://www.prnewswire.com/news-releases/serena-ryder-the-trews-to-headline-star-studded-cp-holiday-train-at-home-concert-holiday-train-approaches-20-million-raised-301172450.html

SOURCE Canadian Pacific