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TLLTF

TILT Holdings Inc. (OTC:TLLTF) has entered into a financing agreement to expand its subsidiary, Standard Farms, in Pennsylvania. The deal allows borrowing up to $10.5 million with escalating interest rates starting at 20%, aimed at constructing dispensaries under a new permit. This strategic move is expected to strengthen TILT's market position in Pennsylvania, a state showing resilience in cannabis sales despite broader market downturns. TILT's financials indicate a leveraged but manageable position, with a need to address liquidity challenges.

Portfolio Pulse from Nicolás Jose Rodriguez

May 09, 2024 | 9:19 pm

SPY

UUP

Unemployment claims in the U.S. surged to 231,000 for the week ending May 4, the highest in eight months, surpassing expectations and indicating a weakening labor market. This led to a drop in the U.S. Dollar, as evidenced by a 0.3% decrease in the U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (UUP). The market reacted by increasing bets on Federal Reserve rate cuts, with stocks, including the S&P 500 tracked by the SPDR S&P 500 ETF Trust (SPY), slightly rising in response.

Portfolio Pulse from Piero Cingari

May 09, 2024 | 2:44 pm

CHRS

Coherus BioSciences has fully repaid its $75M term loan from Pharmakon Advisors and secured new financing arrangements, including a $38.7M term loan due May 2029 and a $37.5M royalty monetization deal based on future sales of LOQTORZI and UDENYCA.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:46 pm

RGLD

Royal Gold (RGLD) reported an increase in total available liquidity to approximately $966 million at the end of Q1 2024, following a repayment of $100 million on its $1 billion revolving credit facility. The company further reduced its outstanding borrowings by $75 million after Q1, utilizing cash flow and proceeds from the repayment of the Khoemacau debt facility, bringing the outstanding revolver balance to $75 million.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:23 pm

CQP

Cheniere Energy Partners, L.P. (CQP) has priced its offering of $1.2B Senior Notes due 2034 at an interest rate of 5.750%, maturing on August 15, 2034. The notes will be issued at 99.820% of par, with the closing expected on May 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 9:12 pm

HESM

Hess Midstream Operations, a subsidiary of Hess Midstream, plans to offer $500M in senior unsecured notes due 2029 in a private offering. This move indicates a strategic financial maneuver to raise capital, potentially for expansion or debt refinancing.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:41 am

KPTI

Karyopharm Therapeutics has announced a refinancing of its financial obligations, exchanging $148M of its existing convertible notes due in 2025 for $111M of new convertible notes due in 2029, along with warrants. Additionally, the company has issued a new $100M senior secured term loan due in 2028. This strategic financial maneuver is aimed at improving the company's balance sheet and extending the maturity of its debt, potentially easing short-term financial pressures and providing more flexibility for future operations.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:39 am

ZVRA

Zevra Therapeutics reported having $52.7M in cash, cash equivalents, and investments as of March 31, 2024. On April 5, 2024, it announced the refinancing of existing debt with up to $100M in committed capital, expected to extend its cash runway into 2026.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:32 am

BRP

The Baldwin Group announced its direct subsidiary's offering of $500M in senior secured notes due 2031, subject to market and other conditions. BRP may be involved in this financial maneuver.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:19 am

AVB

AvalonBay Communities has priced $400 million of 5.350% senior unsecured notes due June 1, 2034, at an issue price of 99.697%, yielding 5.389% to investors. The effective interest rate, considering prior interest rate hedges, is 4.961%, excluding offering costs.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:11 am