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SIG

Signet Jewelers has amended the terms of its Series A Convertible Preference Shares, leading to an immediate reduction in its diluted share count by approximately 4.1 million shares, or 7.6%. The company plans to settle this transaction with the $1.4 billion in cash it has on hand at the end of Fiscal 2024. Furthermore, Signet's revised non-GAAP diluted EPS range includes plans to allocate up to $1.1 billion towards retiring outstanding debt, retiring Preferred Shares, and repurchasing common shares during Fiscal 2025.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:04 am

GEO

The GEO Group (NYSE:GEO) announced a proposal to issue $1.2 billion in senior notes to refinance approximately $1.5 billion of existing indebtedness. The offering includes $700 million of senior secured notes due 2029 and $500 million of senior unsecured notes due 2031. The proceeds, along with a new $400 million Term Loan B and cash on hand, will be used for refinancing existing debts, including various senior notes and term loans, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:02 am

GABF

LBO

OWL

Blue Owl Capital Inc. (NYSE:OWL) shares rose premarket Wednesday after announcing a definitive agreement to acquire Kuvare Insurance Services LP for $750 million. The acquisition, expected to close in Q2 or Q3 2024, will be funded with $325 million in cash and $425 million in Class A shares. Blue Owl also disclosed a $250 million preferred equity investment in Kuvare and signed IMAs to deploy up to $3 billion of assets. The transactions are expected to be accretive in 2024, with Blue Owl's AUM potentially increasing to $20 billion post-acquisition.

Portfolio Pulse from Lekha Gupta

April 03, 2024 | 10:43 am

PHGE

BiomX announced its 2023 cash balance, short-term deposits, and restricted cash totaling $15.9M. Additionally, a concurrent $50M financing is expected to extend the company's cash runway into 2025.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 10:37 am

MNKD

MannKind Corporation has fully repaid its outstanding debts under its credit and security agreement with MidCap Financial Trust and its convertible promissory note to Mann Group LLC, reducing its total debt by approximately $41.8 million since December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 10:06 am

RDNT

RadNet announced its intention to refinance its existing $679 million term loan and undrawn $195 million revolving credit facility with a new $840 million term loan and $250 million revolving credit facility. The refinancing aims to repay the existing loan, cover transaction fees, and add approximately $148 million in cash to its balance sheet for growth and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 10:04 am

EWT

TSM

The Taiwan chip supply chain is expected to resume normal operations within a day following the strongest earthquake in the region in 25 years, according to DigiTimes. This quick recovery is crucial for global semiconductor availability.

Portfolio Pulse from Charles Gross

April 03, 2024 | 9:41 am

EWG

The latest Germany 10-Year Bund auction resulted in a yield of 2.380%, which is an increase from the previous yield of 2.300%. This indicates a rise in the cost of borrowing for Germany.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 9:39 am

FXI

China's Central Bank Monetary Policy Committee announced it will meet the reasonable financing demands of real estate enterprises, irrespective of their ownership types, according to Reuters.

Portfolio Pulse from Charles Gross

April 03, 2024 | 9:13 am

EWT

A powerful earthquake, the strongest to hit Taiwan in 25 years, resulted in 7 deaths and 736 injuries. The event has raised concerns about potential impacts on the region's economy and infrastructure.

Portfolio Pulse from Charles Gross

April 03, 2024 | 9:06 am