Deerfield Triarc Capital Corp., Chicago, has priced an initial public offering of 25 million shares of common stock at $16 per share.The offering includes approximately 680,000 shares being sold by existing stockholders. Credit Suisse First Boston, Merrill Lynch & Co., UBS Investment Bank, and Deutsche Bank Securities were the joint book-running managers of the offering, the company said. The underwriters have been granted an option to buy up to 3.75 million additional shares to cover any overallotments. The shares of the new company are trading on the New York Stock Exchange under the symbol "DFR." The company said it will elect to be taxed as a real estate investment trust. It invests in real-estate-related securities and various alternative investments, such as collateralized debt obligations, consumer asset-backed securities, and corporate mezzanine loans.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18