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The Home Depot Names Ted Decker President and Chief Operating Officer; Announces Additional Senior Leadership Promotions

ATLANTA, Oct. 2, 2020 /PRNewswire/ — The Home Depot®, the world’s largest home improvement retailer, today announced that Edward “Ted” P. Decker has been named president and chief operating officer, effective October 5, 2020. Decker, a 20-year veteran of the company, has served as executive vice president of merchandising since 2014. As the company’s chief merchant, he has been responsible for all store and online merchandising departments, merchandising strategy, services and vendor management, marketing and in-store environment. In his new role, he will assume additional responsibility for global store operations, global supply chain, and outside sales and service.

“Ted is an incredible leader who has enhanced our competitiveness and interconnected strategy by blending the art and science of retail while also driving outstanding results with both our in-store and online customer experience,” said Craig Menear, chairman and CEO of The Home Depot. “We are extremely fortunate to have what I believe to be one of the finest executive leadership teams in retail. Ted’s promotion and the additional changes we are announcing will further strengthen the team’s strategic leadership and operational efficiency, while I continue to focus over the next few years on the long-term growth and strategic positioning of the company.”

Ann-Marie Campbell has been named executive vice president of U.S. stores and international operations, adding responsibility for all operations, business functions and strategy for the company’s Canada and Mexico businesses to her current responsibilities. The presidents of The Home Depot Canada and The Home Depot Mexico will now report to her. Campbell, a 35-year veteran of The Home Depot, will now lead more than 2,200 stores and 400,000 associates.   

Jeff Kinnaird has been promoted to executive vice president of merchandising, reporting to Decker. Most recently, he was president of The Home Depot Canada. He

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HJ Sims Secures $6.5 million Additional Debt Financing for Capital Improvements

FAIRFIELD, Conn., Sept. 30, 2020 /PRNewswire/ — HJ Sims (Sims), a privately held investment bank and wealth management firm founded in 1935, is pleased to announce the successful August 2020 transaction in the amount of $6.5 million additional debt financing for capital improvements for the Philadelphia Protestant Home (PPH). PPH operates a continuing care retirement community in northeast Philadelphia, featuring 266 independent living units, 175 personal-care units and 126-bed nursing facility.

hjsims.com
hjsims.com

PPH has been funding capital improvements from general fund revenues. To efficiently manage cash-flow, PPH elected to finance $6.5 million of upcoming capital improvements. Sims, as financial advisor, developed a financing plan that provided for the funding of the required capital improvements, while implementing a structure that maintained maximum flexibility to maintain their debt service at manageable levels.

Prior to engaging PPH’s existing banking partner, Citizens Bank (Citizens), Sims worked with the PPH Fiscal Oversight Committee to develop structuring options. Following engagement of Citizens, Sims led the effort in working with Citizens to finalize the debt structure, within the confines of the bank’s requirements. Due to impacts of COVID-19, Sims negotiated a modified Debt Service Coverage test to the benefit of PPH. The additional obligations were structured as parity debt with PPH’s outstanding Series 2015 obligations.

Citizens provided $6.5 million of senior debt financing, fully amortizing in ten-years, and a five-year interest-only period followed by monthly principal amortization. The obligations were structured with a five-year, PPH-owned par call provision, and were issued on a tax-exempt basis through the Philadelphia Authority for Industrial Development (PAID). This provision was paramount as PPH’s existing Series 2015 Obligations mature in seven years, while Citizens could only defer principal on the Series 2020 obligations for five years. This call feature will allow PPH to restructure future debt at minimal cost.

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Egypt- Planning Minister approves additional EGP 100m for Aswan-Al-Alaqi Road improvements

(MENAFN – Daily News Egypt) Egypt’s Minister of Planning and Economic Development Hala El-Said has approved an additional budget of EGP 100m for the Ministry of Transport to start raising the efficiency of the Aswan-Al-Alaqi Road.

The road, which runs for a total length of 150 km, has already been granted EGP 560m in funds for its development.

El-Said made note of the economic importance of the transportation sector, with transport networks of all kinds considered economic lifelines. She also said that these networks link production centres with consumer markets, whilst also ensuring that production sites can obtain the required raw materials and operating requirements.

She pointed out that the transport sector’s output is important for production in many commodity and service sectors, such as the trade, extractive and manufacturing sectors.

The minister said that a country’s productivity highlights the importance of a sound and efficient transportation sector. Improving transportation networks has many positive effects on the performance of other economic sectors and their competitiveness.

El-Said referred to the Egyptian transportation sector’s development vision and its main pillars, as stated in the medium-term plan for sustainable development, which will extend from fiscal year (FY) 18/2019 to FY 21/2022.

‘Egypt’s Vision 2030 aims to provide a transport system that achieves the goals of sustainable development, and is intrinsically linked with the requirements of future national economic and social development,’ the minister said.

El-Said also said that transport sector indicators have become one of the main indicators showing the degree of a country’s economic and social progress.

In Egypt, this sector has special importance due to the country’s distinguished geographical location as a hub for transport routes. Egypt also has close geographical proximity to the main markets in Europe, Africa, and the Middle East.

El-Said said that the Aswan Governorate has acquired

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