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BFI

BurgerFi International Inc. (NASDAQ:BFI) shares surged after securing $3.5 million in interim court-approved financing to support its Chapter 11 restructuring. The funding, from TREW Capital Management, ensures continued operations at its 144 locations. The company plans a sale process and leadership changes as part of its restructuring efforts.

Portfolio Pulse from Vaishali Prayag

September 17, 2024 | 3:25 pm

LUMN

Lumen Technologies announced early results of its exchange offers for unsecured notes, involving newly-issued secured notes. The offers include Lumen and its subsidiary Level 3, with a cap of $500 million for new secured notes due 2032.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 1:18 pm

SITC

SITE Centers has sold 13 properties for $714.3M and used part of the proceeds to repay $159M of its mortgage facility. The company also acquired six shopping centers for $111.2M. Curbline, a spin-off, will be capitalized with $600M cash and a $400M line of credit.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 11:00 am

LH

Labcorp has announced a $2 billion senior notes offering across three tranches due in 2030, 2032, and 2034. The proceeds will be used to redeem or repay existing debt, including $400 million of 2.30% Senior Notes due 2024 and $1 billion of 3.60% Senior Notes due 2025, as well as $350 million in revolving credit facility borrowings.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 7:32 am

CNI

Canadian National Railway (CNI) announced a $750 million debt offering with 4.375% notes due in 2034. The proceeds will be used for general corporate purposes, including debt refinancing, share repurchases, and acquisitions.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 7:25 am

RCL

Royal Caribbean has priced an upsized offering of $1.5 billion in 5.625% senior unsecured notes due 2031. The proceeds will be used to refinance existing debt, including redeeming 7.250% senior notes due 2030 and repaying obligations under the Silver Dawn finance lease.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 7:18 am

TIP

Ahead of the FOMC meeting, Paul Krugman argues that even with a 50 basis-point rate cut, Fed rates will remain elevated. He suggests that the current economic conditions do not justify such high rates, while others like Peter Schiff warn against rate cuts due to potential inflationary pressures. The iShares TIPS Bond ETF (TIP) saw a slight increase, reflecting market reactions to inflation concerns.

Portfolio Pulse from Shanthi Rexaline

September 17, 2024 | 6:35 am

BFI

BurgerFi has received interim court approval for $3.5 million in debtor-in-possession financing to support its restructuring efforts across 144 locations. This financing will help stabilize operations and maintain brand standards.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 6:26 am

UPST

Upstart has announced the pricing of an upsized offering of $375 million in 2.00% convertible senior notes due in 2029. These notes are senior, unsecured obligations and will mature on October 1, 2029, with interest payable semi-annually starting April 1, 2025.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 6:09 am

BTC-USD

Economist Peter Schiff warns that upcoming Federal Reserve rate cuts may not lower borrowing costs and predicts rising mortgage rates and a potential dollar collapse. Schiff suggests a 100 basis points rate hike as a solution. The Federal Open Market Committee is set to meet on September 18, with debates on the size of the anticipated rate cut.

Portfolio Pulse from Benzinga Neuro

September 17, 2024 | 3:50 am