Last $11.43 USD
Change Today +0.42 / 3.81%
Volume 32.6K
NEWS On Other Exchanges
Symbol
Exchange
Berlin
As of 8:10 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

newstar financial inc (NEWS) Key Developments

NewStar Financial Inc. Closes New $400 Million Credit Fund

NewStar Financial Inc. announced that it has closed the NewStar Clarendon Fund CLO, a $400 million middle market CLO used to provide leverage for a managed credit fund anchored by an investment from funds sponsored by Franklin Square Capital Partners and sub-advised by GSO Capital. The Clarendon Fund is the third credit fund established by NewStar to co-invest in middle market commercial loans originated by the company.

NewStar Financial, Inc., Special/Extraordinary Shareholders Meeting, Jan 21, 2015

NewStar Financial, Inc., Special/Extraordinary Shareholders Meeting, Jan 21, 2015., at 10:00 US Eastern Standard Time. Location: 500 Boylston Street, Suite 1250. Agenda: To consider the issuance of warrants to purchase 2.5 million shares of common stock of the company to the investors; to consider the approval of eliminating certain exercise restrictions contained in the warrants to purchase 9.5 million shares of common stock of the company; and to consider the approval of the adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies if there is an insufficient number of votes at the special meeting.

NewStar Financial Inc., GSO Capital Partners and Franklin Square Capital Partners Form Strategic Relationship

NewStar Financial Inc., GSO Capital Partners (GSO) and Franklin Square Capital Partners announced that they have formed a strategic relationship to help expand the company’s lower middle market lending and asset management activities. The relationship includes an investment of long-term capital from funds managed by Franklin Square Capital Partners (which are sub-advised by GSO) to help fund the company’s growth strategy and expand the scale of its lower middle market lending activity. Under the terms of the investment, funds managed by Franklin Square have committed to purchase $300 million of 10-year subordinated notes and warrants exercisable into 12 million shares of common stock at an exercise price of $12.62. NewStar expects to use the proceeds from the transaction to enhance its ability to originate and lead transactions across all of its business lines and, as a result, significantly increase origination volume and facilitate asset growth. The strategic relationship between the firms is anticipated to contribute materially to NewStar’s growth, while extending GSO and Franklin Square’s access to the lower middle market. It also allows Franklin Square’s funds and GSO to offer their portfolio companies other financing solutions such as equipment leases and asset-based loans from a market leader. In addition to the investment, the scope of the relationship is expected to result in cross-referral and co-lending opportunities, which are anticipated to provide NewStar with access to new channels of origination, while enabling the Company to provide larger capital commitments and a more complete set of financing options to its clients through its relationship with GSO and Franklin Square.

NewStar Financial, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Net Charge Offs for the Third Quarter of 2014; Provides Tax Rate Guidance for the Year 2014

NewStar Financial, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net interest income of $19,603,000 compared to $18,667,000 for the same period of last year. Operating income before income taxes was $8,514,000 compared to operating loss before income taxes of $9,892,000 for the same period of last year. Income before income taxes was $8,514,000 compared to loss before income taxes of $10,766,000 for the same period of last year. Net income was $5,020,000 compared to net loss of $6,437,000 for the same period of last year. Net income per diluted share was $0.10 compared to net loss per diluted share of $0.04 for the same period of last year. Return on average assets was 0.82% compared to 1.10% a year ago. Return on average equity was 3.28% compared to 4.24% a year ago. Adjusted ne interest income was $19,603,000 compared to $18,893,000 for the same period of last year. Total revenue was $22.9 million. For the nine months, the company reported net interest income was $59,897,000 compared to $64,603,000 for the same period of last year. Operating income before income taxes was $14,780,000 compared to $29,664,000 for the same period of last year. Income before income taxes was $15,871,000 compared to $30,767,000 for the same period of last year. Net income was $9,368,000 compared to $18,235,000 for the same period of last year. Net income per diluted share was $0.18 compared to $0.34 for the same period of last year. Return on average assets was 0.50% compared to 1.10% a year ago. Return on average equity was 2.03% compared to 4.05% a year ago. Book value as at September 30, 2014 was $12.73 per share. For the third quarter of 2014, the company's net charge offs were $558,000 compared to $895,000 a year ago. The company expects tax rate to be about 41% for 2014.

NewStar Financial, Inc. to Report Q3, 2014 Results on Nov 05, 2014

NewStar Financial, Inc. announced that they will report Q3, 2014 results at 10:00 AM, US Eastern Standard Time on Nov 05, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
NEWS:US $11.43 USD +0.42

NEWS Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Anworth Mortgage Asset Corp $5.22 USD 0.00
Arbor Realty Trust Inc $6.91 USD +0.09
Arlington Asset Investment Corp $27.02 USD +0.16
Dynex Capital Inc $8.47 USD +0.06
RAIT Financial Trust $7.23 USD +0.03
View Industry Companies
 

Industry Analysis

NEWS

Industry Average

Valuation NEWS Industry Range
Price/Earnings 33.9x
Price/Sales 7.0x
Price/Book 0.9x
Price/Cash Flow 30.6x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact NEWSTAR FINANCIAL INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.