MONY


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AcronymDefinition
MONYMutual of New York (Insurance - Syracuse, NY)
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As a result of the acquisition, MONY is now a wholly owned subsidiary of AXA Financial.
The transaction is expected to close in the first quarter of 2004, subject to regulatory and MONY shareholders' approval.
MONY provided permanent financing in the amount of $28 million for an office building in NYC; permanent financing in the amount of $23 million for an office building in NYC; a construction loan in the amount of $19 million for a condominium-conversion project in NYC.
At MONY, we have had a focused Asian marketing strategy for many years and are developing other niche units.
With lots of plastic manufacturing experiences and the professional molding skill of double/triple shots injection, the excellent design and development team, MONY Design provides a cost-effective OEM/ODM production service to every client by helping customers to transform their ideas into viable products.
In February, both the SEC and a New York Federal Judge agreed that Highfields' mailing of MONY's own proxy card to MONY shareholders was in full compliance with SEC proxy rules.
MONY is not trying to send a message specifically to Hartford Life, but the new underwriting team is a "bold step to demonstrate to the brokerage marketplace that MONY is serious" and is a "player in the neighborhood," said Jeremy Holmes, vice president of MONY Life Insurance Co.
Under current circumstances, however, MONY is considering mezzanine lending with a total loan-to-value of 80 to 90 percent, comprised of a 70 to 75 percent conventional loan combined with a mezzanine segment commanding a higher rate of return with a more aggressive amortization schedule.
It has also benefited from the acquisition of the MONY Companies in July 2004, which has led to an expansion of its retail distribution platform and contributed favorable statutory earnings and cash flow.
CONTACT: Media, Mary Taylor, 212-708-2250, or Investors, Jay Davis, +1-212-708-2917, both of The MONY Group Inc.
Custom SUL is available in states where approved through all of MONY'S distribution channels, including its career system of financial professionals and the MONY Independent Network, a complementary distribution channel of brokerage general agencies and broker-dealers.
The Olympus tenancy is an indication of the recovery of the Long Island real estate market," says Evelyn Leon, vice president of asset management for MONY, who has managed the Two Old Sod Farm project since MONY took title to the building in September.