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OCC Announces Four New Senior Leaders

Business Wire

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CHICAGO–(BUSINESS WIRE)–OCC, the
world’s largest equity derivatives clearing organization
, today
announced the appointment of four new senior leaders, including a new
General Counsel.

“We are very pleased to bring these talented individuals on board,” said
OCC Chief Executive Officer John
Davidson
. “These appointments demonstrate OCC’s continued ability to
attract the best talent as we work to stay ahead of risk, foster
innovation and lead the U.S. equity options industry in developing
further efficiencies and growth.”

“As a Systemically Important Financial Market Utility, OCC works to
ensure confidence in the financial markets and the broader economy,”
said Scot
Warren
, OCC Chief Operating Officer. “These additions to OCC’s
management team will help us sustain our resiliency, enhance our
operations, and help us continue to develop innovative technology
solutions to better serve the users of the equity options markets.”

Janet Angstadt has been named Executive Vice President and General
Counsel. She will be responsible for the strategic direction of OCC’s
legal programs with a focus on compliance and regulatory requirements.
She will also be a member of OCC’s Management Committee. Most recently,
Angstadt was at Katten Muchin Rosenman, where she was a Partner and
Co-Head of the Chicago Financial Services Practice, with extensive
experience in corporate and securities law. She reports to CEO John
Davidson.

Saqib Jamshed has been named Senior Vice President, Model Risk
Governance. He will be responsible for enhancing OCC’s model risk
management program to ensure appropriate measurement and mitigation of
risk related to OCC’s quantitative models and tools. This includes
liaising with regulatory examiners and other external parties regarding
OCC’s models and risk analytics. Jamshed has over 20 years of experience
as a financial services risk management and technology professional,
most recently with State Street Corporation, as the Director of
Quantitative Risk Analytics – Model Governance. He will report to OCC
Executive Vice President and Chief Risk Officer John
Fennell
.

Pat Hickey has been named Senior Vice President, Product and Business
Development. He will be responsible for the products and services
delivered to OCC’s exchange partners and clearing firms, while also
running competitive analyses to identify opportunities and threats
within OCC’s product and business ecosystems. Hickey has over 20 years
of experience in the options industry, most recently as Head of Market
Structure at Optiver. He reports to Chief Operating Officer Scot Warren.

Sandeep Maira has been named First Vice President, Head of Risk Solution
Delivery and Support. He will maintain OCC’s custom-built software,
ensure that OCC’s evolving Information Technology solutions align with
its business objectives, and drive OCC’s transition to cloud computing.
Maira has over 20 years of experience in financial and technology
innovation, most recently as Global Head of Risk, Compliance and
Financial Regulatory Reporting Technology with BNY Mellon. Prior to that
he was at JPMorgan, as Head of Futures/Options, Clearing and Asset
Management Risk Technology. He will report to Tim Dwyer, OCC’s Senior
Vice President of Strategic Systems.

About OCC

OCC is the world’s largest equity derivatives clearing organization and
the foundation for secure markets. Founded in 1973, OCC operates under
the jurisdiction of both the U.S. Securities and Exchange Commission
(SEC) as a registered clearing agency and the U.S. Commodity Futures
Trading Commission (CFTC) as a Derivatives Clearing Organization. Named
2019 Best Clearing House by Markets Media, and 2018 Clearing
House of the Year – The Americas by FOW, OCC now provides central
counterparty (CCP) clearing and settlement services to 20 exchanges and
trading platforms for options, financial futures, security futures, and
securities lending transactions. More information about OCC is available
at www.theocc.com

Contacts

Media Contact:
Alex Starace
312-986-6005
astarace@theocc.com

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Business Wire

KBRA Releases its Portfolio Analysis Tool for Structured Credit

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NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases its KBRA Portfolio Analysis Tool (K-PAT), which is detailed in the company’s Structured Credit Methodology.

K-PAT was developed to evaluate portfolios underlying collateralized loan obligations (CLOs) and others containing mostly sub-investment grade corporate exposures. It is a formulaic tool that can be used to quickly project the expected cumulative default amount at each KBRA rating level. The formula starts with the KBRA probability of default (K-PD) of each credit and incorporates both a rating multiplier for each rating level and an adjustment based on the portfolio’s diversity. The K-PD is based on the credit assessment and tenor, the latter of which can be adjusted for transactions with reinvestments that will increase the overall portfolio duration.

K-PAT’s output provides a portfolio-level projected default rate that is representative of KBRA’s views on the economic environment that may be experienced at a specific rating level, and used as an input when performing a full cash flow analysis.

The K-PAT file is Excel-based and available as a free download on the KBRA website.

To download the file, click here.

Related Publications: (available at www.kbra.com)

CONNECT WITH KBRA

Twitter
LinkedIn
Download the iOS App
YouTube

About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical:
George Lyons, CFA, Senior Director

(646) 731-3314

glyons@kbra.com

Sean Malone, CFA, Director

(646) 731-2436

smalone@kbra.com

Steven Zhen, Analyst

(646) 731-3379

szheng@kbra.com

Eric Hudson, Managing Director

(646) 731-3320

ehudson@kbra.com

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Business Wire

Allegion Announces Pricing of $400 Million of Senior Notes

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DUBLIN–(BUSINESS WIRE)–Allegion plc (NYSE: ALLE) (“Allegion” or the “Company”), a leading global provider of security products and solutions, today announced that it priced its previously announced offering of $400 million aggregate principal amount of 3.500% senior notes due 2029 (the “Notes”). The offering is expected to close on September 27, 2019, subject to the satisfaction of customary closing conditions.

The Notes will be guaranteed upon their issuance by Allegion US Holding Company Inc., a wholly-owned subsidiary of Allegion.

Allegion intends to use all of the net proceeds from the offering to repay a portion of the borrowings under its term loan facility. “This offering allows us to extend maturities at attractive interest rates,” said Patrick Shannon, senior vice president and CFO of Allegion.

BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers.

Allegion has filed an effective registration statement with the U.S. Securities and Exchange Commission (SEC) for the offering and encourages investors to read it (including the accompanying prospectus, the related prospectus supplement and the information incorporated by reference therein) for more complete information about Allegion and the offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may also be obtained by contacting BofA Securities, Inc. at the following address: NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina, 28255-0001, Attn: Prospectus Department, or by calling 1-800-294-1322, or by emailing dg.prospectus_requests@baml.com; Goldman Sachs & Co. LLC at the following address: 200 West Street, New York, New York 10282, Attn: Prospectus Department, or by calling 1-866-471-2526; or J.P. Morgan Securities LLC at the following address: J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York, 10179, Attn: Investment Grade Syndicate Desk, 3rd Floor, or by calling collect 1-212-834-4533.

These securities are only offered by means of a prospectus and a prospectus supplement related to the offering. This news release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor will there be any sales of securities mentioned in this news release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the expected closing of the offering and the use of proceeds therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. These statements are based on the Company’s currently available information and its current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties – many of which are beyond the Company’s control – as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the Company’s business is included in filings it makes with the SEC from time to time, including its Form 10-K for the year ended December 31, 2018, Form 10-Q for the quarters ended March 31, 2019, and June 30, 2019, and in its other SEC filings. The Company undertakes no obligation to update these forward-looking statements.

About Allegion

Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and other institutions. Allegion had $2.7 billion in revenue in 2018, and sells products in almost 130 countries.

Contacts

Media Contact:
Whitney Moorman – Reputation Management Leader

+1.317.810.3241

Whitney.Moorman@allegion.com

Analyst Contact:
Mike Wagnes – Vice President, Treasury and Investor Relations

+1.317.810.3494

Michael.Wagnes@allegion.com

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Business Wire

First BanCorp to Announce 3Q 2019 Results on October 22, 2019

Business Wire

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SAN JUAN, Puerto Rico–(BUSINESS WIRE)–First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the third quarter ended September 30, 2019, before the market opens on Tuesday, October 22, 2019.

First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Tuesday, October 22, 2019. The call and webcast will be broadcast live over the Internet and can be accessed through the investor relations section of the Corporation’s website: www.1firstbank.com.

Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The call may also be accessed through a dial-in telephone number 877-506-6537 or 412-380-2001 for international callers. Following the webcast presentation, a question and answer session will be made available to research analysts and institutional investors.

A replay of the webcast will be archived in First BanCorp’s website until October 22, 2020. A telephone replay will be available one hour after the end of the conference call through November 22, 2019 at 877-344-7529 or 412-317-0088 for international callers. The replay access code is 10135120.

About First BanCorp

First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Limited Liability Company and First Express, Inc., both small loan companies, and FirstBank Puerto Rico Securities Corp., a broker-dealer subsidiary. First BanCorp’s shares of common stock trade on the New York Stock Exchange under the symbol “FBP.”

Contacts

First BanCorp.
John B. Pelling III

Investor Relations Officer

787-729-8003

john.pelling@firstbankpr.com

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