Day: June 21, 2020

Maaden Phosphate Unit Signs $4.1 Billion Finance Deal

(Bloomberg) —

Saudi Arabian Mining Co.’s phosphate unit signed an accord with a group of lenders to refinance and reschedule $4.1 billion in debt as it seeks to trim interest costs amid a collapse in commodity prices.

Maaden Waad Al Shamal Phosphate Co. will refinance $2.3 billion owed to a syndicate of commercial banks and financial institutions, according to a statement. It will also reschedule $1.8 billion of debt owed to Saudi Arabia’s Public Investment Fund and transfer it to the Public Pension Agency.

The refinancing allows the phosphate business to reduce interest expense and pushes back the start of repayments until 2022, Saudi Arabian Mining Chief Executive Officer Mosaed Bin Sulaiman Al Ohali said in an interview. “The interest rate is very favorable, and the new financing will help to improve our cash flows at a time in the market where cash is very tight.”

Maaden, as Saudi Arabian

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DSLR Video Vs Camcorder Video – The Battle to the Top

The Battle of “DSLR Video vs Camcorder”

For about 3 years now, video amateurs and professionals all over the world have heard about the rising star in the video arena, “DSLR Video.” This lightweight contender is a photography based camera that packs a punch in the ring against the older, heavier, and less popular “Camcorder.” The Battle of “DSLR Video vs Camcorder,” is officially underway.

For almost 30 years, since Sony’s BetaCam in 1982, tape-based camcorders have ruled the video industry with their compact build, light weight, and most of all, their ease of use. All you had to do was push a red button and point the lens at what you wanted to record. There was no longer a need for film canisters or projectors. Literally anyone could film anything they wanted and watch it instantly.

High Definition?

Over the past several years, many camcorder companies have tried to … Read More