Streetbeat News

Credit

PK

Park Hotels & Resorts receives a neutral hold rating, with strengths in high dividend yield and diversified portfolio, but faces challenges like below investment-grade credit rating and high debt/equity ratio.

Portfolio Pulse from

February 09, 2025 | 5:15 am

PRMB

Primo Brands Corporation has announced the early tender results and early settlement election for its exchange offers concerning outstanding senior notes. Additionally, the company has executed supplemental indentures to existing senior notes indentures.

Portfolio Pulse from

February 08, 2025 | 1:30 am

SYGCF

Sylla Gold Corp. has issued $97,500 in unsecured non-interest bearing promissory notes to creditors for general working capital purposes.

Portfolio Pulse from

February 07, 2025 | 10:15 pm

EPFCF

Everyday People Financial Corp. has completed debt settlements with EAM Enterprises Inc., receiving conditional approval from the TSX Venture Exchange. This move is part of their strategy to reduce liabilities and focus on growth, especially in their Revenue Cycle Management business.

Portfolio Pulse from

February 07, 2025 | 10:15 pm

CCL

CUK

Carnival Corporation & plc has successfully closed a $2.0 billion offering of 6.125% senior unsecured notes due 2033. The proceeds, along with cash on hand, were used to redeem $2.03 billion of 10.375% senior priority notes due 2028, reducing interest expenses by over 4%.

Portfolio Pulse from

February 07, 2025 | 9:15 pm

MYNA

Mynaric AG has secured a $28 million bridge loan, extended three existing bridge loans, agreed to a $25 million restructuring loan, and initiated a financial restructuring under Germany's StaRUG.

Portfolio Pulse from

February 07, 2025 | 9:00 pm

FSK

FS KKR Capital Corp (FSK) is considered undervalued, trading at a discount to its Net Asset Value (NAV). It offers a strong Net Investment Income (NII) and a high distribution yield, making it an attractive investment. FSK's portfolio is well-diversified, with a significant portion in senior secured investments and floating rate debt, providing protection against interest rate changes. The company is well-positioned to benefit from expected market conditions in 2025, with opportunities for increased originations and improved credit metrics.

Portfolio Pulse from

February 07, 2025 | 6:15 pm

AFRM

Affirm's CEO, Max Levchin, discusses the company's strong earnings performance, highlighting a thriving consumer base and effective credit management.

Portfolio Pulse from

February 07, 2025 | 5:15 pm

NKLA

Nikola Corp shares dropped over 38% following a report suggesting the company is nearing bankruptcy. The Wall Street Journal reported that Nikola is working with advisors to explore debt restructuring options.

Portfolio Pulse from

February 07, 2025 | 2:15 pm

MUX

McEwen Mining Inc. has announced the pricing of $95 million in convertible senior notes due 2030, with an option for an additional $15 million. The private placement targets qualified institutional buyers and is set to close on February 11, 2025.

Portfolio Pulse from

February 07, 2025 | 11:15 am