FairPoint re-submits financial information to PSB over bankruptcy

first_imgConsolidated Communications,FairPoint submitted supplemental financial information to the Public Service Board last week for its consideration in FairPoint’s still-pending Regulatory Settlement and Change of Control proceeding, the approval of which will allow the company to emerge from Chapter 11.The Vermont Public Service Board’s approval is one of the final steps in this process. FairPoint already has received approvals from Maine and New Hampshire regulators, creditors, represented employees and other states where it does business and approval was required. FairPoint is also pursuing approval from the Federal Communications Commission.FairPoint asked the Vermont Public Service Board to consider FairPoint’s additional information in an expedited manner, with a final decision to be made by November 23.FairPoint has stated that the telecommunications industry has changed dramatically over the past decade and the current level of industry competition provides both business and residential consumers with multiple choices and technologies. “When we emerge from Chapter 11, FairPoint will be a stronger and more viable provider of traditional telephone services and wireline data transmission solutions.”FairPoint’s bankruptcy plan was rejected by the PSB in June, in large part because of revenue projections. FairPoint’s plan would reduce debt by $1.7 billion in exchange for creditors taking control of the North Carolina-based telecommunications company. (STORY).last_img read more

AP2 creates standalone green bond portfolio citing market’s ‘maturity’

first_img“We are therefore breaking out our holdings in green bonds from the fixed income portfolio, to manage them in accordance with a dedicated investment strategy,” he said.The new approach will see AP2 use the Barclays MSCI Green Bond index, launched in late 2014, to benchmark its performance.“This strategic move offers the Fund a clear means of combining solid returns with an allocation of resources to the global sustainability challenge,” Lindblom said.Lindblom told IPE that, while much of AP2’s green bond exposure to date had come from supranational issuers and national development banks, the consistency of the Barclays MSCI index was “a little bit different”, leading to a gradual shift in allocation through the acquisition of corporate green bonds.Since 2014, there has been steady growth in the number and volume of green bond issuances.The first three months of 2016 has already seen $15.6bn (€13.9bn) in green bonds issued, according to the Climate Bonds Initiative, including a $600m issuance by Kommuninvest, Sweden’s local government debt office, and a $1.5bn issuance by Apple.This compares to more than $36bn in 2014 and nearly $42bn in 2015.German development bank KfW was responsible for the largest single issuance last year, a €1.5bn bond that attracted interest from AP2 and Dutch pension manager APG, signatories to the Paris Green Bond Statement.AP2’s decision to establish a standalone portfolio comes after fellow buffer fund AP3 pledged to treble its green bond holdings to SEK15bn by 2018, while AP4 grew its green bond holdings by SEK2.9bn in 2015, ending the year with nearly SEK4bn. Sweden’s AP2 is to establish a standalone green bond portfolio, arguing the market has matured enough to warrant classifying its holdings as a distinct asset class.The buffer fund, which has invested in green bonds since 2008 when the World Bank first entered the market, said it would implement a strategic allocation of 1%, or SEK3bn (€327m), despite having already exceeded the target through its current holdings worth SEK4.2bn.It said the decision to establish a standalone portfolio was “strategically important”, as it would enhance the fund’s sustainable investment efforts.Lars Lindblom, fixed income portfolio manager, said AP2 felt the green bond market had now “achieved a maturity and size” to justify the fund’s implementing a separate investment strategy and declaring it an asset class.last_img read more

Holiday at home where kids will never be bored

first_imgThis Hoyts-inspired cinema at 19 Hardwood Court, Buderim is one of many attractions that make this home a perfect school holiday fun house.FROM quad bikes to quoits, when it comes to entertaining the kids these long summer holidays, a well set up family home could save your sanity.Even without children, these homes are so packed with entertainment options, you’d be hard pressed to find a reason to go out. A hidden cave, slide and waterfall are awaiting your attention these holidays at 19 Hardwood Court, Buderim.There’s quad bikes and a Hoyts -inspired cinema on offer in the Sunshine Coast hinterland, while 5km from the Brisbane CBD, you can hone your basketball and volleyball skills with your own outdoor hardcourt. FOLLOW US ON FACEBOOK New sales record as temperatures test auctioneers MORE REAL ESTATE STORIEScenter_img On a 6454sq m block tucked in Buderim on the Sunshine Coast, 19 Hardwood Court has been designed to mirror a seven-star Bali resort with seven bedrooms and entertainment options for all ages. The Buderim property from the air.Get active with a half-sized tennis court and basketball arena, or take a splash in one of two inground swimming pools with a 15m water slide, jumping rock and an outdoor TV entertaining area. One of two pools at 19 Hardwood Court, Buderim. This one has a waterfall, slide, and cave.Plan a movie marathon in the Hoyts-inspired cinema, or explore the running stream through tropical gardens. It’s not all about the kids, check out this master suite at 19 Hardwood Court, Buderim.Craig Porter of LJ Hooker Mooloolaba is selling Villa Asmara and is welcoming private viewings. Here’s the second pool at 19 Hardwood Court, and the far gazebo is an outdoor cinema.Only 5km from Brisbane’s CBD, active outdoor play is the theme at 130 Victoria St, Fairfield, where a large portion of the 802sq m block is devoted to an outdoor hardcourt. Plenty of room to keep those ball skills going over the school holidays at 130 Victoria St, FairfieldMore from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours agoWhether it’s basketball, netball, volleyball, soccer, cricket or badminton, the artificially-turfed and marked-out area is fenced off and ready to go, with double gate access to the road.Jane Elvin, of LJ Hooker Annerley/Yeronga, is selling the six-bedroom property which also has an inground pool and a triple garage.Back on the Sunshine Coast is 7 Acres at 36 Preston Rd, Diddillibah, which has enough manicured lawn space for a camp out beside the resort-style pool with a Bali hut. 7 Acres at 36 Preston Rd, Diddillibah.The four-bedroom, three-bathroom house has a bocce court, a dam and comes with a quad bike to explore the grounds. Anyone for bocce? Check out this bocce court at 36 Preston Rd, Diddillibah.Athena Law of Define Property Mooloolaba is selling the 2.71ha property for $1.35 million. Take a boat ride on your very own dam at Diddillibah. Cottage goes from blah to brilliantlast_img read more