CapitalSource Closes On HUD Mortgages
–(www.FinancialNewsUSA.com)– 01/02/2010 – Credit Services industry news provided by Financial News USA. CHEVY CHASE, Md., Dec. 29 /PRNewswire-FirstCall/ — CapitalSource Inc. (NYSE: CSE) today announced that on December 24 it received approximately $119 million of cash proceeds from HUD mortgage financing on long-term care properties that will be included among the 40 facilities expected to be sold to Omega Healthcare Investors Inc. (NYSE: OHI) on or about April 1, 2010, as per the terms of the Securities Purchase Agreement between the parties announced on November 17, 2009.
CapitalSource used the proceeds from the HUD mortgages to add to parent company liquidity and reduce the committed capacity of the Company’s syndicated bank facility to $325 million. Â
“We are very pleased that the HUD financing and Omega step one transactions have closed before year end. [Read the full article]
Equifax Inc. (NYSE: EFX – News), a global leader in information solutions, recently announced that it has entered into a joint venture agreement with Moneta, an online payment alternative to credit cards, whereby the later will be utilizing the Equifax credit decisioning system for a new instant credit feature for Moneta’s online payment method.
The online alternative payment gateway of Moneta currently offers an easy-to-use online payment method that allows customers to fund online purchases directly from their bank account, without disclosing their personal financial information to the merchant. The instant credit feature is scheduled for release in early 2010, which is expected to extend the funding options of Moneta payments to include the extension of transactional credit for online purchases, in real-time. Moneta markets itself through leading U.S. banks as an extension of their demand deposit account (DDA) service portfolio. [Read the full article]
CapitalSource Inc. has received a $119 million Housing and Urban Development-backed loan from the Capital Funding Group for mortgages on properties it plans to sell to Omega Healthcare Investors Inc. The mortgages are for long-term care properties that will be among 37 such facilities CapitalSource will sell in April. Chevy Chase-based CapitalSource announced the three-part sale of more than 100 properties to Hunt Valley, Md.-based Omega on Nov. 17. The properties included in the sale represent most of the lender’s health care net lease portfolio. A net lease is a lease that includes property expenses in addition to normal rent. Capital Source closed on the first part of the sale ÂÂ- 40 nursing homes – last week. That sale will account for $347 million of the total $495 million the deal is expected to yield. Omega will assume the $119 million loan. CapitalSource will use the cash proceeds to pay down its debt. [Read the full article]
CHEVY CHASE, Md., Dec. 29 /PRNewswire-FirstCall/ — CapitalSource Inc. (NYSE: CSE), today announced that Laird Boulden will be joining the Company, effective February 1, 2010, as President of Corporate Asset Finance. He will lead an asset finance group, which will enhance the Company’s historically strong asset-based lending business by focusing on equipment secured loans.Ã‚Â Boulden has been in the business for nearly 30 years and will join CapitalSource from Tygris Asset Finance where he recently served as President.Ã‚Â Previously Boulden held senior executive roles at the Citizens Banks/Royal Bank of Scotland and Heller Financial, where he founded/co-founded their respective equipment finance groups.Ã‚Â Stephen J. O’Connor and Robert S. Wille will be among the group he is bringing to CapitalSource.Ã‚Â Both have worked with Boulden for many years and share his extensive equipment-based lending experience. [Read the full article] About Financial News USA
Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com.