Total debt was approximately $2.4 billion, including obligations outstanding under the company's synthetic lease
. The ratings and Outlook reflect Fitch's expectations for continued strong operating performance from competitive gaming growth and customer and developer adoption of NVIDIA's artificial intelligence (AI) and autonomous driving platforms as these markets evolve.
The transaction involved an 800,000-square-foot corporate campus synthetic lease
conversion in Mt.
(JPM) (2) had intended to terminate its security interest in certain GM property serving as collateral for a $300 million synthetic lease
transaction that GM was paying off.
He has prepared and reviewed valuation and feasibility studies for litigation support, conventional financing, synthetic lease
transactions, bond financing, ad valorem, condemnation, estate, purchase accounting, financial reporting, federal tax disputes, fair rental studies, and insurance purposes.
Exhibit 2 depicts the activities involved in a synthetic lease
This facility replaces the company's earlier USD5m facility with Gibraltar Business Capital LLC and provides more benefits such as increased availability and borrowing capacity partly due to the inclusion of inventory in the borrowing base; an extended term of three years; more favourable net income (loss) financial covenants; and the ability to obtain a mortgage or synthetic lease
on the company's Senatobia, Mississippi plant, subject to certain limitations.
These synthetic lease
agreements are merely efforts to structure a deal to circumvent the spirit of SFAS 13.
A synthetic lease
, for example, appears as an operating expense on your books but is a capital expense for tax purposes.
Miller says the company will use the new credit line to repay the company's $968.6 million senior secured credit facility and its $107 million synthetic lease
. Both are due in March 2005.
Wachovia Real Estate Capital Markets, led by Bill Green, provides nonrecourse permanent and interim loans through CMBS conduit and mortgage banking executions, mezzanine and B-note financing, equity co-investing, sale-leaseback and synthetic lease
A synthetic lease
combines the tax benefit of a capital lease with the off-balance-sheet advantages of an operating lease.