Core Points - Lennar Corporation is proceeding with an Exchange Offer to exchange approximately 20% of its total outstanding shares of Millrose Properties, Inc. for outstanding shares of Lennar Class A common stock, set to expire on November 21, 2025 [1][2] - Millrose has requested the acceleration of the effectiveness of its registration statement with the SEC, which is necessary for the completion of the Exchange Offer [2] - If the SEC does not declare the registration statement effective by the expiration date, Lennar may need to extend or terminate the Exchange Offer [2] Company Overview - Lennar Corporation, founded in 1954, is a leading builder of quality homes across various segments, including affordable, move-up, and active adult homes [3] - The company also provides financial services, including mortgage financing and title services, primarily for its homebuyers, and develops high-quality multifamily rental properties [3] Additional Information - The Exchange Offer is made solely by the Prospectus, which contains important information about the offer and the companies involved [6][7] - Holders of Lennar Class A common stock can access the Prospectus and related documents free of charge on the SEC's website [8]

Core Viewpoint - Lennar Corporation is extending the expiration date of its Exchange Offer for shares of Millrose Properties, Inc. due to the ongoing U.S. federal government shutdown, which has prevented the SEC from declaring registration statements effective [1][10]. Exchange Offer Details - The Exchange Offer, initially set to expire on November 14, 2025, has been extended to November 21, 2025 [1]. - The Exchange Offer involves Lennar exchanging approximately 20% of its shares in Millrose for outstanding shares of Lennar Class A common stock [1]. - Completion of the Exchange Offer is contingent upon the SEC declaring the Registration Statement effective, which is currently delayed due to the government shutdown [1][2]. Future Announcements - If the government shutdown persists past November 14, 2025, Lennar will announce whether it will further extend the Exchange Offer or terminate it by 11:59 p.m. on that date [2]. Company Background - Lennar Corporation, founded in 1954, is a leading builder of quality homes across various segments, including affordable and active adult homes [3]. - The company also provides mortgage financing and develops multifamily rental properties nationwide [3].

Financial Restructuring - New World, a distressed Hong Kong builder, initiates an exchange offer for its outstanding perpetual notes [1] - The exchange offer involves issuing up to $1.9 billion of new securities [1]

Core Points - Lennar Corporation is extending the expiration date for its Exchange Offer for Millrose Properties shares due to the ongoing U.S. federal government shutdown [1][2] - The new expiration date for the Exchange Offer is now set for November 14, 2025, instead of the previously scheduled November 7, 2025 [1][2] - The Exchange Offer cannot be completed until the SEC declares the Registration Statement effective, which is currently delayed due to the government shutdown [2][3] Company Information - Lennar Corporation, founded in 1954, is a leading builder of quality homes across various segments, including affordable and active adult homes [5] - The company also provides mortgage financing and title services through its Financial Services segment and develops multifamily rental properties [5] Exchange Offer Details - If the SEC does not declare the Registration Statement effective by the new expiration date, Lennar may further extend the Exchange Offer or terminate it without accepting any shares [3][4] - All other terms and conditions of the Exchange Offer will remain unchanged, and Lennar reserves the right to amend or withdraw the offer at any time [4]

Core Insights - Aedifica's interim financial report for Q3 2025 highlights robust operational performance, with significant results exceeding budget expectations [2][4] Financial Performance - EPRA Earnings reached €185.8 million, reflecting a 4% increase compared to September 30, 2024, equating to €3.91 per share [5] - Rental income rose to €271.8 million, an 8% increase year-over-year [5] - A like-for-like rental income increase of 3.1% was recorded in the first nine months of 2025 [5] Portfolio and Investments - The real estate portfolio is valued at €6.2 billion as of September 30, 2025 [2] - Aedifica manages 615 healthcare properties serving 48,900 end users across seven countries [5] - The valuation of investment properties increased by 0.4% in Q3 and 0.8% year-to-date on a like-for-like basis [5] - A total of 33 properties were divested for €125 million as part of a strategic asset rotation program [5] - New investments announced in 2025 amount to €163 million, including 14 new projects and 8 acquisitions [5] Financial Stability - The company maintains a solid balance sheet with a debt-to-assets ratio of 41.2% as of September 30, 2025 [3][5] - There is €614 million of headroom on committed credit lines available for CAPEX and liquidity needs [5] - The average cost of debt, including commitment fees, stands at 2.2% [5] Outlook and Ratings - The estimated EPRA Earnings per share for the full 2025 financial year have been increased to approximately €5.10, up from €5.01, excluding transaction costs related to the exchange offer [5] - The proposed dividend for the 2025 financial year is reconfirmed at €4.00 per share (gross) [5] - S&P has reaffirmed Aedifica's BBB credit rating and placed it on CreditWatch with positive implications following the agreement with Cofinimmo [5]

Core Points - Getty Images Holdings, Inc. announced the final results of an exchange offer to swap its unsecured 9.750% Senior Notes due 2027 for newly issued unsecured 14.000% Senior Notes due 2028 [1] - The exchange offer was conducted by Getty Images, Inc., a wholly owned subsidiary, and included a solicitation of consents for proposed amendments to the terms of the indenture governing the old notes [1] - As of the expiration time on October 17, 2025, $294,686,000 of the old notes were validly tendered, representing 98.23% of the total [2] Exchange Offer Details - The issuer accepted all tendered old notes, resulting in the issuance of new notes in an aggregate principal amount of $294,686,000 [2] - The settlement date for the exchange offer is expected to be October 21, 2025, with $5,314,000 of old notes remaining outstanding post-settlement [2] Company Overview - Getty Images is a leading global visual content creator and marketplace, providing a wide range of content solutions to customers worldwide [11] - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 news, sports, and entertainment events annually [11] - Getty Images maintains one of the largest privately-owned photographic archives globally, with millions of images dating back to the inception of photography [11]

Core Viewpoint - Getty Images Holdings, Inc. is conducting an Exchange Offer to exchange its existing 9.750% Senior Notes due 2027 for newly issued 14.000% Senior Notes due 2028, along with a related Consent Solicitation for proposed amendments to the terms of the Old Notes [1][2]. Group 1: Exchange Offer Details - The Exchange Offer involves the exchange of $300 million of Old Notes, with $294.665 million validly tendered by the Early Tender Time, representing a participation rate of 98.22% [5]. - Eligible Holders must tender their Old Notes to deliver consents for the Proposed Amendments, and vice versa, ensuring that valid tenders also constitute consent delivery [4]. - The Total Consideration for validly tendered Old Notes includes $1,000 principal amount of New Notes, which consists of an Early Tender Premium of $50 per $1,000 principal amount of Old Notes [5][6]. Group 2: Timeline and Execution - The settlement date for the Exchange Offer and issuance of the New Notes is expected to occur on October 21, 2025 [6]. - The supplemental indenture containing the Proposed Amendments will become effective upon execution but will only operate if the Old Notes are accepted for exchange [3]. Group 3: Company Overview - Getty Images is a leading global visual content creator and marketplace, serving customers worldwide through its brands, including Getty Images, iStock, and Unsplash [14]. - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 events annually [14].

Core Viewpoint - INNOVATE Corp. has announced early participation results for its exchange offer of 8.5% Senior Secured Notes due 2026, allowing eligible holders to exchange for newly issued 10.5% Senior Secured Notes due 2027, with a significant participation rate of 99.41% [1][3]. Group 1: Exchange Offer Details - The exchange offer allows holders of the existing 8.5% Senior Secured Notes to exchange them for new 10.5% Senior Secured Notes, with the early participation deadline set for July 30, 2025 [1]. - A total of US$328,067,000 of the existing notes were tendered, representing 99.41% of the outstanding amount, meeting the minimum exchange condition of 98% [2][3]. - The early settlement of the exchange offer is expected to occur on August 4, 2025, pending satisfaction of all conditions [5]. Group 2: Terms of New Senior Secured Notes - The new notes will have a maturity date of February 1, 2027, and an interest rate of 10.5%, with the first payment delivered as additional exchange consideration [6]. - Holders of the existing notes will receive a total of US$1,072.50 in principal amount of new notes per US$1,000 of existing notes accepted for exchange, which includes an early exchange premium [9][10]. Group 3: Proposed Amendments and Conditions - Holders of the existing notes that participated in the exchange consented to amendments that eliminate most restrictive covenants and subordinate liens on collateral [7]. - The consummation of the exchange offer is conditioned on several concurrent transactions, which may be waived by the company with certain noteholder consent [11]. Group 4: Important Dates - The expiration deadline for the exchange offer is set for midnight on August 13, 2025, with final settlement expected on August 15, 2025 [8].