Welcome to our dedicated page for ORIX news (Ticker: IX), a resource for investors and traders seeking the latest updates and insights on ORIX stock.
ORIX Corporation (IX) operates as a Japan-based global diversified financial services group with American depositary shares listed on the NYSE. Its business spans financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial and ICT equipment, ships and aircraft, reflecting its development from leasing roots in Japan.
Recurring news covers ORIX Group and ORIX Corporation USA activity, including asset management, private credit, growth capital financing, commercial real estate credit, subsidiary acquisitions and portfolio-company developments. Updates also include annual Form 20-F submissions, governance and organizational changes, and the integration of Hilco Global as a majority-owned ORIX USA subsidiary focused on professional services and capital solutions.
ORIX USA has appointed Nik Singhal as Managing Director and Group Head of Direct Lending within its Private Credit business. With 26 years of experience, Singhal joins from BlackRock and will start on July 8, 2024. He will report to Jeff Abrams, Group Head of Private Credit and Real Estate, and join ORIX USA’s Management Committee. This appointment coincides with the restructuring of ORIX’s private credit platform into two specializations: Direct Lending and Securitized Credit. Singhal will lead Direct Lending, encompassing NXT Capital, Growth Capital, and Municipal & Infrastructure solutions. His role will focus on expanding businesses, driving origination and performance, and leveraging the firm’s balance sheet. Meanwhile, Raviv Shtaingos will head the Securitized Credit division. This strategic move aims to scale ORIX USA’s private credit business by aligning with investor interests, particularly in the middle market.
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Avolon's Q1 2023 results highlighted strong demand in the aircraft leasing market, reporting $599 million in lease revenue and a net income of $56 million, up from a loss of $182 million in Q1 2022. Despite an 8.97% decrease in lease revenue compared to Q1 2022, operating cash flow remained robust at $310 million. The company secured an $810 million financing facility and ended the quarter with total liquidity of $5.5 billion. Avolon maintained a stable net debt to equity ratio of 2.3x and reported a secured debt to total assets ratio of 21%. The fleet included 578 aircraft, with significant commitments for new technology aircraft. Avolon also announced a commitment for 40 Boeing 737 MAX aircraft, set for delivery from 2027 to 2030, valued at over $4 billion.