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Credit

BOX

Box Inc. has announced a $400 million offering of convertible notes with a 1.50% interest rate and a 30% conversion premium. The company plans to use the proceeds for capped call transactions, repurchasing existing notes, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 5:56 am

SON

Sonoco Products has announced the pricing of its senior unsecured notes offering, totaling $1.8 billion. This move is likely aimed at raising capital for corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 10:01 pm

ENLC

EnLink Midstream (ENLC) announced the redemption of its 6.000% Series C Fixed-to-floating Rate Cumulative Redeemable Perpetual Preferred Units. The redemption will be funded through borrowings under its revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 9:15 pm

ALCO

Alico has amended its credit agreement with MetLife, increasing its borrowing capacity under the revolving line of credit from $25 million to $95 million and extending the maturity date to May 1, 2034.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 9:13 pm

ROKU

Roku has entered into a credit agreement for a $300 million five-year revolving credit facility, which includes a $100 million sub-facility for letters of credit and an option to increase by an additional $300 million.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 8:28 pm

MOND

Mondee has secured a $15M letter of credit from Morgan Stanley, extending its term loan maturity to June 30, 2028, and its preferred equity put option to December 31, 2028. This provides Mondee with at least $20M in working capital to support growth.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 8:20 pm

BAC

Bank of America plans to redeem all $2 billion of its 0.981% fixed/floating rate senior notes on September 25, 2024, which were originally due in September 2025.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 8:17 pm

DCOM

Dime Community Bancshares (NASDAQ:DCOM) has been analyzed by four analysts, showing a range of opinions from bullish to bearish. Recent analyst actions include raised ratings and price targets, with an average 12-month price target of $28.62, up from $25.75. Despite positive analyst sentiment, Dime Community Bancshares faces financial challenges, including declining revenue growth, low net margin, and high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

September 17, 2024 | 8:01 pm

SPY

Jeffrey Gundlach from DoubleLine Capital predicts that the Federal Reserve will cut interest rates by 50 basis points soon and a total of 125 basis points this year. He also believes the U.S. is currently in a recession.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 7:29 pm

AAPL

GS

JPM

JPMorgan Chase is in talks to take over the Apple credit card program from Goldman Sachs. Discussions have advanced, but key details, including pricing, are still being negotiated. The transition involves $17 billion in outstanding balances.

Portfolio Pulse from Adam Eckert

September 17, 2024 | 7:15 pm