Warnock vs. Loeffler race to cost several million dollars

first_img– Advertisement – The parties are expected to spend even more if the other Georgia Senate election, between GOP Sen. David Perdue and Democrat Jon Ossoff, also heads to a January runoff. NBC has not made a call in this race.Each race has been expensive so far. The Warnock and Loeffler campaigns have combined to spend nearly $40 million, according to data from the nonpartisan Center for Responsive Politics. Perdue and Ossoff have spent nearly $45 million. Combined, House and Senate across the country are expected to finish spending a total of $7 billion by the end of the 2020 election cycle.The Senate Leadership Fund, a super PAC run by allies of Senate Majority Leader Mitch McConnell, R-Ky., will be leading the way in outside spending for the GOP in those races, according to the GOP strategist.- Advertisement – A Democratic fundraiser agreed that both sides are gearing up to drop loads of cash on Georgia over the next couple months.“Both Georgia races are going to runoffs. There will be more money spent on both sides than in any Senate races in history,” according to Charles Myers, the former vice chairman of Evercore and a Democratic bundler. Myers said that, if he was asked, he would start raising money for Warnock and possibly Ossoff if it’s needed.Other Democratic donors, including longtime party financier Bernard Schwartz, told CNBC that they are preparing to, or already are, raising money for Warnock and are just waiting for Ossoff to initiate their networks.- Advertisement – Control of the Senate could be at stake if both races go to a runoff.Still, some party bundlers told CNBC they’re already preparing to tell Democratic leaders they don’t believe the races in Georgia are a worthwhile investment as they aren’t convinced the candidates will win.Georgia historically has been held by Republicans. Yet there have been signs in recent years that the state has shifted somewhat toward Democrats. As of Thursday afternoon, the race for the state’s 16 Electoral College votes in the presidential race was too close to call, according to NBC.Warnock, according to people briefed on the matter, has started reaching out to some of his top donors to start raising for what’s likely going to be a grueling fight.People who declined to be named in this story did so in order to speak freely.Warnock himself warned his supporters in an ad on Twitter that “the negative ads are coming.” The ad features a link to his ActBlue page, where he encourages small dollar contributions.The Senate Leadership Fund has already spent $43 million taking on Ossoff and just over $770,000 targeting Rep. Doug Collins, a Republican who was running against Loeffler, Warnock and others in the special election, according to data from CRP.Their Democratic rivals in the Senate Majority PAC are gearing to engage in both races. They spent over $30 million against Perdue, CRP says.“We are committed to helping both Rev. Raphael Warnock and Jon Ossoff win these seats in January,” Rachel Irwin, a spokeswoman for the super PAC, told CNBC. “The Georgia Republican ticket is made up of a pair of corrupt, out-of-touch politicians who profited off of the pandemic and will stop at nothing to take away Georgians’ health care.”The Lincoln Project, according to people familiar with the matter, will target Loeffler and could get involved in the other Georgia Senate race if that goes to a runoff.Way to Lead PAC, a hybrid PAC helping candidates up and down ballot, plans to give $100,000 to the New South super PAC. That committee is also supporting Warnock with digital ads and other forms of voter outreach. The committee has also been involved with the other Georgia Senate race and the presidential election there between Joe Biden and President Donald Trump.New South’s budget for its 2020 program was over $2 million.Democratic super PAC American Bridge already put out an ad against Perdue in the expectation his race will go to a runoff. The spot claims Perdue profited after gaining insight from his Senate briefings on the coronavirus pandemic. Loeffler and her husband, Intercontinental Exchange CEO Jeff Sprecher, liquidated their individual stock positions and related options after being criticized for selling millions of dollars in stock amid the coronavirus pandemic.Loeffler and Perdue have denied wrongdoing.A spokesman for the PAC told CNBC they too are going to be pushing ahead into these races. The committee specializes in opposition research.“Over the next two months, American Bridge 21st Century will continue to do what we do best: digging into Loeffler and Perdue’s shady records and holding them accountable to Georgia voters, just as we have for the last year. They should buckle up,” Zach Hudosn, the groups spokesman, said.Both Democratic and Republican campaign committees appear to be bracing for both races to head to January runoffs.The National Republican Senatorial Committee has prepared a variety of voter contact tools for each race, including TV and digital ads, along with having surrogates ready for media appearances.“David Perdue won this race in regular time and will do the same in overtime,” NRSC Executive Director Kevin McClaughlin said in a statement.“Georgia is clearly now a purple battleground state, and Senator Perdue is a weak, scandal-plagued incumbent who can’t defend his record of outsourcing and corruption,” said Scott Fairchild, executive director of the Democratic Senatorial Campaign Committee. “We’re ready to help Jon flip this Senate seat.” The coming Georgia Senate runoff between GOP Sen. Kelly Loeffler and Democratic challenger Raphael Warnock is shaping up to cost tens of millions of dollars.Republicans are expected to shell out at least $100 million, according to a GOP strategist familiar with the plans. This person also noted that Democrats are expected to spend a similar amount. NBC News projected that Loeffler and Warnock are headed to a runoff after they placed in the top two of several candidates running for the seat.- Advertisement –last_img read more

Airbnb raises $1 billion in debt from Oaktree, BlackRock

first_imgThe five-year loan priced at a spread of 7.5 percentage points over the benchmark London interbank offered rate and at a discount of 97.5 cents on the dollar, the people said. Terms tightened from a rate of 8 percentage points over Libor and a discount of 96 cents on the dollar, the person said. Investor demand for the deal exceeded $2.5 billion.The new debt is senior to the San Francisco-based company’s borrowings from Silver Lake and Sixth Street that it unveiled earlier this month, which is composed of second-lien debt and equity securities. The equity valued the company at $18 billion, a fraction of its $31 billion peak. The new deal doesn’t include warrants or other equity components, a person familiar with the deal said.The additional funds give Airbnb extra financial cushion as prospects dim for an initial public offering this year. It could help the company weather the economic crisis brought on by the coronavirus pandemic without going public, and could also allow the company to make acquisitions, a strategy it has been weighing, people with knowledge of the matter told Bloomberg last month.Topics : Airbnb raised $1 billion in debt, according to people with knowledge of the matter, as the travel company braces for an extended fallout from the coronavirus.The new, first-lien debt comes from a group of more than 20 investors, including Silver Lake, the largest participant, as well as BlackRock, Eaton Vance, Fidelity Investments and T. Rowe Price Group, according to people with knowledge of the matter. Other participants include Apollo Global Management, Benefit Street Partners, Blackstone Group, Glade Brook Capital Partners, Oaktree Capital and Owl Rock Capital, the people said.The deal builds on last week’s investment of the same size from Silver Lake and Sixth Street Partners, which is also participating in the new debt, said the people, who asked not to be identified because the deal isn’t public. Representatives for the companies involved either declined to comment or didn’t immediately respond to requests.last_img read more

Trio of Hargrave Military Academy graduates brings prior chemistry to Wake Forest

first_img Published on January 13, 2015 at 12:10 am Contact Paul: [email protected] | @pschweds Facebook Twitter Google+ During Wake Forest’s training camp, players had to wake up every day at 6 a.m. for two weeks. While most on the team complained, juniors Codi Miller-McIntyre, Andre Washington and freshman Greg McClinton joked about how it was like sleeping in for them.Miller-McIntyre, Washington and McClinton all attended Hargrave (Virginia) Military Academy for their senior years of high school. There, they had to be in full uniform and lined up outside by the time the Demon Deacons players were just waking up this preseason.“I think those guys enjoyed their time there,” Wake Forest head coach Danny Manning said, “but I think they’re pretty happy they’re not there anymore with those early morning trumpet calls they had to do.”The structure and discipline at Hargrave was unlike anything these three players had experienced before. Practicing twice a day, lifting weights four times a week and going to bed at 10 p.m., mixed in with military training and school, helped instill skills that have led to their success in college. Miller-McIntyre is second on the team in scoring and rebounding, and while Washington’s and McClinton’s stats are far from eye-popping, all three said what they learned at Hargrave has significantly influenced their careers.On Tuesday, this trio and the rest of the Demon Deacons (9-8, 1-3 Atlantic Coast) will take on Syracuse (12-4, 3-0) in the Carrier Dome at 8 p.m., and look to hand the Orange its first conference loss.AdvertisementThis is placeholder text“Andre Washington, he’s like – well, not like, he is my brother,” Miller-McIntyre said. “… Being here at Wake Forest for three years now, it’s just a bond that’s unbreakable because of how much stuff we went through.”At Wake Forest, unless players have class together, they mainly only see their teammates during practice, Washington said. At Hargrave, he said players spent all of their time together, which helped build chemistry among them.The two future Wake Forest players roomed right next to each other and they grew even closer as a result. Their birthdays are one day apart, and they’ve celebrated together each of the past three years. After graduating from Hargrave, they went to Miami to celebrate.Looking back, McClinton said he and his teammates laugh about the challenges they faced at the military school, but recognize the more serious effects on mental preparation. The majority of each day at Hargrave was structured, so players had no choice but to use their time efficiently.“Just how the school worked with the timing of a bell goes off, you have to be somewhere,” Miller-McIntyre said. “Then another bell goes off, you have to be somewhere else.”Miller-McIntyre said it’s nice to know McClinton had a similar experience in his senior year of high school. Washington added that his teammates at Hargrave were closer than any other team he’s been a part of.Hargrave Head Coach A.W. Hamilton graduated from the school in 1999 and played two seasons at Wake Forest before transferring. Anytime a player would ask him about the college, Hamilton would talk about the opportunities at an underdog school like WFU.Miller-McIntyre and Washington have been right at the forefront of Wake Forest’s turnaround. After finishing worst in the ACC in 2010-11, the Demon Deacons were above .500 last season for the first time since then. And it is their on-court chemistry that has led to success.“When one of them would get down, the other one would pick them up and vice versa,” Hamilton said of Miller-McIntyre and Washington. “So it was a special thing to watch those guys grow and you can see it now even when they play games, the chemistry they have is a really special thing.” Commentslast_img read more