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Credit

SNV

Synovus Financial is effectively managing interest rate volatility, with net interest income growth despite no loan growth and increased long-term debt. The Series E preferred shares offer a stable yield due to a fixed rate until 2029, making them attractive amid projected rate cuts. However, risks include high exposure to nonowner occupied commercial real estate and nonaccrual loans, which could affect future earnings.

Portfolio Pulse from

December 03, 2024 | 4:15 am

COR

Cencora, Inc. has announced the pricing of $1.8 billion in senior notes, with varying interest rates and maturities, to raise capital.

Portfolio Pulse from

December 03, 2024 | 4:00 am

ROMJF

Rubicon Organics Inc. has secured C$10,000,000 in credit facilities from Community Savings Credit Union and another lender. The credit agreements have a five-year term, a ten-year amortization period, and a 6.75% interest rate.

Portfolio Pulse from

December 03, 2024 | 3:15 am

MARA

MARA Holdings, Inc. has announced the pricing of an oversubscribed and upsized offering of $850 million in zero-coupon convertible senior notes due 2031. The proceeds will be used to acquire bitcoin and repurchase existing convertible notes due 2026.

Portfolio Pulse from

December 03, 2024 | 2:00 am

FSLY

Fastly, Inc. announced the issuance of $150 million in 7.75% convertible senior notes due 2028 and plans to repurchase a portion of its existing 0.00% convertible senior notes due 2026.

Portfolio Pulse from

December 03, 2024 | 1:45 am

BX

Blackstone has priced a $750 million offering of 5.000% senior notes due 2034 through its subsidiary, Blackstone Reg Finance Co. L.L.C. The notes are guaranteed by Blackstone Inc. and its subsidiaries. The proceeds will be used for general corporate purposes.

Portfolio Pulse from

December 02, 2024 | 11:45 pm

IEF

The article provides a long-term perspective on Treasury yields, focusing on the 10-year constant-maturity yield since 1962, alongside the Fed funds rate and inflation. It offers insights into historical trends and their implications for future economic conditions.

Portfolio Pulse from

December 02, 2024 | 11:30 pm

MSC

Studio City International Holdings Limited has entered into a senior credit facilities agreement, securing HK$1.945 billion in revolving credit for five years. The funds will be used to refinance debt and for general corporate purposes.

Portfolio Pulse from

December 02, 2024 | 10:15 pm

EXR

Extra Space Storage Inc. has announced a $300 million add-on offering of 5.700% senior notes due 2028. This follows a previous issuance of $500 million of the same notes.

Portfolio Pulse from

December 02, 2024 | 10:00 pm

SRG

Seritage Growth Properties has made a $15 million voluntary prepayment on its $1.6 billion term loan from Berkshire Hathaway, totaling $1.36 billion repaid since December 2021.

Portfolio Pulse from

December 02, 2024 | 9:45 pm