Boston, MA 10/13/2014 (wallstreetpr) – Marriott Vacations Worldwide Corp (NYSE:VAC) announced on 10th October that it has completed the securitization of nearly “$250 million of vacation ownership loans”. The deal involved MVW Owner Trust buying nearly $205 million of the vacation loans on 9th October. It also retains an option to buy the reminder of the loans before 16th of February next year. In order to fund this transaction, MVW Owner Trust had raised $250 million from the market. The transaction was processed in the form of a private placement. Class A notes issued by the trust raised $216 million, where as Calls B notes helped raise $24 million. The trust has decided to hold nearly $43 million it has raised through this exercise to buyout the remaining loans.
Global telecommunications infrastructure solutions provider UTStarcom Holdings Corp (NASDAQ:UTSI) announced on 10th October that its business partner, aioTV had successfully gained the rights on a patent which will give it exclusiveness in technology platform linked to “customized video entertainment”. The patent is linked to a solution platform which would allow users to sync videos which are sourced from a variety of sources which include “live, on demand and free to download Internet content” into a one stop channel. As of date, UTStarcom Holdings Corp (NASDAQ:UTSI) is the single largest investor in aioTV.
Medivir AB announces that its partner Janssen which is a fully owned unit of pharma major Johnson & Johnson (NYSE:JNJ) had kick started the process of enrolling patients who would participate in Phase 2 clinical study of IMPACT. The tests are being conducted to determine the efficacy of their joint drug candidate NS3/4A in association with sofosbuvir and NS5A drugs. These two later drugs are from the stables of Gilead Sciences, Inc. (NASDAQ:GILD) and Bristol-Myers Squibb Co (NYSE:BMY) respectively. The phase 2 tests will track the progress made by patients over a 12 week period.