SmartStop Self Storage REIT (SMA) said late Wednesday that it has completed a CA$200 million series B senior unsecured notes issuance in the Canadian Maple Bond market. The five-year notes, issued through SmartStop, bear a 3.888% interest rate, mature on Sept. 24, 2030, and pay interest semiannually starting in March 2026, the report said.
California Resources Corporation (CRC) announced today the pricing of its private offering of $400 million in aggregate principal amount of its 7.000% senior unsecured notes due 2034 at par. The Company estimates that the net proceeds from the offering will be approximately $394 million after deducting the initial purchasers' discount and estimated expenses.
Light & Wonder (LNW) said Wednesday its unit Light and Wonder International has completed a private offering of $1 billion of 6.25% senior unsecured notes due 2033.
Transocean (RIG) plans to sell 100 million shares in an underwritten public offering and grant underwriters a 30-day option to buy up to an additional 15 million shares. Net proceeds will be used to repay or redeem debt, including part of the $655 million in 8% senior notes due February 2027 issued by the Transocean International subsidiary, the company said Wednesday in a statement.
US equity indexes were lower after the close on Wednesday, continuing their downward trend from the previous session, as most Treasury yields gained a day after the US Federal Reserve said there is no risk-free path to rate cuts.
Hertz Global Holdings, Inc. (HTZ), a leading global rental car company, today announced that its wholly-owned indirect subsidiary, The Hertz Corporation, intends to offer, subject to market and other conditions, $250 million in aggregate principal amount of Exchangeable Senior Notes due 2030, in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended.
US equity indexes fell Wednesday for the second straight day, while most government bond yields rose. * US new-home sales surged 20.5% in August, reaching an annual rate of 800,000, up from a revised 664,000 in July, surprising analysts in a Bloomberg survey expecting a drop to 650,000.
KalVista Pharmaceuticals (KALV) said late Wednesday it plans to issue $110 million of convertible senior notes due 2031 in a private placement, subject to market conditions. KalVista plans to give initial purchasers an option to buy up to an additional $15 million of notes.
SmartStop Self Storage REIT, Inc. (SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced that it has closed its previously announced CAD$200 million aggregate principal amount of Series B Senior Unsecured Notes, due September 24, 2030.
BKV Corporation (BKV) today announced that BKV Upstream Midstream, LLC, a wholly owned subsidiary of BKV, has priced, at par, its private offering of $500 million aggregate principal of 7.500% senior notes due 2030.
-San Francisco Federal Reserve Bank President Mary Daly said on Wednesday she "fully supported" the decision by the Fed to cut its policy rate last week and expects further reductions ahead. "Will they come right now, this year or going forward?" Daly said at the University of Utah's David Eccles School of Business.
Light & Wonder, Inc. (LNW) today announced that its wholly owned subsidiary, Light and Wonder International, Inc., successfully completed a private offering of $1 billion in aggregate principal amount of new 6.250% senior unsecured notes due 2033 at an issue price of 100.000%. The net proceeds of the Notes offering will be used to repay all outstanding borrowings under LNWI?s revolving credit facilit...
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund was decreasing 0.9%. Bitcoin was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In ec...
US equity indexes headed for the second straight decline ahead of the close on Wednesday as most government bond yields gained. The Nasdaq Composite fell 0.5% to 22,461.91, the S&P 500 dropped 0.4% to 6,633.91, and the Dow Jones Industrial Average declined 0.4% to 46,117.4. The materials sector led the declines, while energy paced the gainers.
U.S. Treasury yields inched higher on Wednesday, driven by higher corporate and government bond supply, a day after Federal Reserve Chair Jerome Powell signaled caution around the U.S. central bank's next interest rate decision.
* Wall Street, MSCI index fall. * Fed Chair Powell gives no new direction on rate cuts. * European defence stocks jump after Trump's comments on Ukraine. * US new home sales show upside surprise. * Gold falls while oil and Treasury yields rise. By Sin?ad Carew and Amanda Cooper.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund was decreasing 0.9%. Bitcoin was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In ec...
* Fed Chair Powell emphasizes balance between jobs and inflation. * Euro falls after rising for two straight sessions. * NZ dollar drops after appointment of new central bank chief. * Yen lower as traders assess candidates for Japanese PM. By Chibuike Oguh and Canan Sevgili.
AM Best has upgraded the Financial Strength Rating to A+ from A and the Long-Term Issuer Credit Ratings to ?aa-? from ?a+? of the insurance members of HAI Group. The ratings reflect HAI Group?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
AM Best has assigned a Long-Term Issue Credit Rating of ?a-? to the recently issued $350 million, 5% 10-year senior unsecured notes due September 2035, issued by American Financial Group, Inc. (AFG) [NYSE: AFG]. The outlook assigned to this Credit Rating is stable. AFG plans to use the net proceeds of the offering for general corporate purposes including share repurchase.
The National Association of Realtors' measure of US existing-home sales is expected to slow to a 3.96 million annual rate in August, based on a survey compiled by Bloomberg, after rising by 2% to a 4.01 million rate in July. Existing-home sales were at a 3.93 million rate in August 2024, so the year-over-year change would be only slightly positive.
-Federal Reserve Bank of Chicago President Austan Goolsbee said the U.S. jobs market remains "mostly steady and solid" and warned against a series of interest rate cuts, the Financial Times reported on Thursday.
According to Daren King over at National Bank, we now have a complete picture of the first quarter during which the U.S. tariffs were imposed, and it's "far from reassuring". King noted Quebec's real GDP contracted by the most since the 2008-2009 financial crisis, and by more than the country as a whole in Q2.
U.S. Treasury yields inched higher on Wednesday, driven by higher corporate and government bond supply, a day after Federal Reserve Chair Jerome Powell signaled caution around the U.S. central bank's next interest rate decision.
US benchmark equity indexes fell intraday, extending losses from the previous session that followed Federal Reserve Chair Jerome Powell's speech. The Nasdaq Composite was down 0.5% at 22,461.2 after midday Wednesday, while the S&P 500 fell 0.4% to 6,632.1. The Dow Jones Industrial Average lost 0.3% to 46,172.9. Among sectors, materials saw the biggest drop, while energy paced the gainers.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.5% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund was down 0.5%. Bitcoin was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%. In economic ...
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.4% and the Financial Select Sector SPDR Fund off 0.2%. The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund was down 0.5%. Bitcoin was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%. In corporate...
US benchmark stock indexes traded lower while government bond yields rose in midday trading on Wednesday. The Nasdaq Composite was down 0.5% to 22,465.7, the S&P 500 slid 0.3% to 6,634.2, and the Dow Jones Industrial Average fell 0.2% to 46,205.3. Energy led the gainers, while materials and technology were the steepest decliners intraday.
* FTSE 100 up 0.3%, FTSE 250 down 0.02% * Industrial metal miners jump on copper gains. * Defence sector gains after Trump's comments on Ukraine. * JD Sports Fashion reports 13.5% fall in first-half profit.
National Bank of Canada in a Tuesday note maintained its outperform rating on the shares of Groupe Dynamite (GRGDF) while raising its price target to $66.00 from $55.00. The bank noted the clothing retailer's shares have "meaningfully outperformed" recently and said it is reviewing its price target following a "strong" 43% stock price appreciation in a short time frame since reporting Q2/F25 results.
National Bank of Canada on Wednesday retained Versamet Royalties's outperform rating and $11 price target. Versamet Royalties announced it has purchased a 90% silver stream on the Rosh Pinah Zinc mine in Namibia and a 2.75% net smelter royalty on the Santa Rita mine in Brazil for upfront consideration of US$125 million and contingent consideration of up to $45 million.
Sri Lanka's central bank said Wednesday its Monetary Policy Board decided to maintain the Overnight Policy Rate at the current level of 7.75%. The Board arrived at Tuesday's decision after carefully considering both domestic and global developments, noted CBSL in its policy stament.
National Bank of Canada Wednesday kept Lithium Americas's sector perform rating and $5 price target. The bank said a possible involvement by the US government in Lithium Americas (LAC)' Thacker Pass project could derisk the project's financials during the construction period, as well as the future revenues required through initial offtakes.
* Fed Chair Powell emphasizes balance between jobs and inflation. * Euro falls after rising for two straight sessions. * NZ dollar drops after appointment of new central bank chief. * Yen lower as traders assess candidates for Japanese PM. * US dollar index rises. By Chibuike Oguh and Canan Sevgili.
The Czech central bank Wednesday said its Board kept interest rates unchanged, as expected. The two-week repo rate remained at 3.50%. All seven members of the Board voted in favor of this decision. "Today's decision aims to stabilise headline inflation close to the 2% inflation target in the long run," wrote CNB in its policy statement. MT Newswires does not provide investment advice.
Oil and gas activity in the key producing states of Texas, Louisiana and New Mexico declined slightly in the third quarter, as executives there expressed an increasingly negative outlook for the industry, according to a survey released by the Federal Reserve Bank of Dallas on Wednesday.
It was announced overnight Tuesday that Riksbank's Deputy Governor Anna Breman will become the new Reserve Bank of New Zealand governor from December, said ING. ING doesn't see major implications for either central bank, as Breman briefly stood out on the dovish side in 2023 but has since been rather neutral.
Hudbay Minerals (HBM) late Tuesday said it has temporarily shut down its Constancia mill in Peru due to ongoing social unrest. The company said the situation has escalated over the weekend with riots in Lima and several protests across the country, affecting Hudbay's Constancia mine and other mines in the southern mining corridor.
California Resources (CRC) said Wednesday it intends to sell $400 million of senior unsecured notes due 2034 in a private offering. The company said it plans to use the net proceeds, along with cash on hand and borrowings, to help repay Berry's existing debt in connection with their pending merger and to pay fees and expenses related to the merger and the offering of the notes.
* US core PCE data due on Friday. * US weekly jobs data due on Thursday. * Powell strikes cautious tone on path of future rate cuts. By Noel John. Gold prices eased on Wednesday as the U.S. dollar firmed, retreating from a record high scaled in the previous session, while investors hunkered down for economic data due later in the week for further cues on the Federal Reserve's policy path.
Against consensus and market expectations, the Riksbank delivered a 25bps rate cut to 1.75% on Tuesday, said UBS. With Tuesday's reduction at Sweden's central bank, the policy rate at 1.75% has likely become accommodative.
California Resources Corp (CRC): * CALIFORNIA RESOURCES CORPORATION ANNOUNCES PRIVATE OFFERING OF $400 MILLION OF SENIOR UNSECURED NOTES. * California Resources Corp (CRC) - PROCEEDS TO REPAY BERRY CORPORATION'S EXISTING INDEBTEDNESS Source text: Further company coverage:
Russia's state budget deficit is expected to amount to 5.7 trillion roubles or 2.6% of gross domestic product in 2025, well above the target of 1.7%, according to Finance Ministry documents reviewed by Reuters.
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.
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