Life Time Group (LTH) said late Monday it closed a sale-leaseback transaction involving three properties, generating gross proceeds of about $150 million. The company also said S&P Global Ratings upgraded its issuer credit rating to BB- from B+ ahead of the transaction, citing strong operating performance driven by growth in memberships, member engagement, and demand for in-center offerings.
JBS NV (JBS) is planning a $3.5 billion bond sale to extend debt maturities, Bloomberg reported, citing a person familiar with the matter. The Brazilian meat producer is mulling a debt offering with due dates of 10, 30, and 40 years, the person told Bloomberg. The debt offering comes as borrowers tap into debt markets amid escalating Middle East conflicts, according to the report.
Tidewater said Monday it has launched a private offering of $650 million of unsecured senior notes due 2030. The company said it plans to use the net proceeds, along with cash on hand, to pay back a term loan and redeem its outstanding 8.50% senior secured bonds due 2026 and 10.375% senior unsecured bonds due 2028 as well as cover any extra costs, like interest and fees.
Apollo Global Management (APO) signed an agreement with Electricite de France SA to purchase up to 4.5 billion pounds of bonds through a private placement, helping the utility company finance its UK investments over the next three years, particularly the Hinkley Point C project, EDF said Friday.
Cargojet (CGJTF) overnight Thursday said Morningstar DBRS assigned the company an investment-grade credit rating of BBB with a stable trend. Morningstar cited its contracted recurring revenue profile, efficient operations, leading market position in the Canadian domestic overnight air cargo market, and commitment to maintaining leverage within its publicly stated target range.
Franklin BSP Realty Trust (FBRT) said Friday that its operating FBRT OP operating partnership has issued $107 million worth of unsecured senior notes in a private offering. The offering consists of $82 million of 8.25% unsecured senior notes due 2030 and $25 million of floating rate unsecured senior notes due 2028, with an initial coupon of about 8.33%, the company said.
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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