S&P Global Ratings on Monday revised its outlook on freight railroad services provider Canadian Pacific Kansas City (CP) to positive from stable, citing company's "resilient operating performance and integration of KCS". The agency also affirmed all its ratings on CPKC and related subsidiaries, including its 'BBB+' issuer credit rating on the company.
Prospera Energy (GXRFF) over the weekend said it raised $3.6 million after closing its previously announced convertible debt offering. The company said proceeds were allocated "exclusively" toward strengthening working capital, well reactivations, and production optimization.
Surgery Partners (SGRY) said late Thursday its Surgery Center subsidiary priced a private offering of $425 million of 7.25% senior unsecured notes due 2032. The company expects the offering to close Tuesday and plans to use the net proceeds for general corporate purposes. MT Newswires does not provide investment advice.
WSFS Financial (WSFS) said late Thursday it closed a public offering of $200 million of 5.375% fixed-to-floating rate senior unsecured notes due 2035. From Dec. 15, 2030, the rate will reset quarterly at an annual floating rate equal to the three-month term secured overnight financing rate, plus 189 basis points, the company said.
Surgery Partners (SGRY) said Thursday its Surgery Center unit plans to offer an additional $425 million in 7.250% senior unsecured notes due 2032. The company said the notes will be guaranteed on a senior unsecured basis by each domestic wholly owned unit that backs its senior secured credit facilities.
Eni said Thursday its board approved a potential issuance of up to 1 billion euros worth of hybrid subordinated bonds. The bonds may be issued in one or more tranches by June 30, 2027, the energy company said. Eni plans to use the proceeds for general corporate purposes. MT Newswires does not provide investment advice.
KP Tissue (KPTSF) on Wednesday said Kruger Products Inc closed an offering of senior unsecured notes. The company said that KPI issued C$165 million principal amount of 6.250% senior unsecured notes due Dec.10, 2032 by way of private placement.
Canacol Energy (CNNEQ) said Wednesday that it has signed an agreement with a group of its 5.75% senior unsecured notes holders for debtor-in-possession financing. The financing, which is comprised of a US$45 million delayed-draw new-money term loan, also carries the option to increase it by up to $22 million in letters of credit to renew and/or replace certain existing letters of credit.
Antero Midstream (AM) said late Tuesday it priced an upsized private placement of $600 million in 5.75% senior unsecured notes due 2034. The company expects net proceeds of about $593 million. It plans to use the proceeds, along with other borrowings and disposal, to fund the acquisition of HG Energy II Midstream. The offering is expected to close on Dec. 23.
WSFS Financial (WSFS) said late Tuesday it has priced an underwritten public offering of $200 million of its fixed-to-floating rate senior unsecured notes due 2035. Net proceeds will be used to repay $150 million of its fixed-to-floating rate senior unsecured notes due 2030, and for general corporate purposes, the company said. The offering is expected to close Dec. 11, it added.
Antero Midstream (AM) said Tuesday it plans to sell $500 million of senior unsecured notes due 2034 in a private placement to eligible investors. The company said it plans to use the proceeds, together with borrowings under Antero Midstream Partners LP's revolving credit facility and cash from the sale of its Utica Shale midstream assets, to fund the purchase of HG Energy II Midstream Holdings.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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