Streetbeat News

Credit

VIRT

Virtu Financial, Inc. (NASDAQ:VIRT) announced a proposed private offering of $500 million in senior first lien notes due 2031 to repay existing debt. The offering is subject to market conditions and will be used to repay the company's existing term loan facility. Concurrently, Virtu plans to amend its credit agreement to provide for a new $1,245 million term loan facility and increase its revolving credit facility to $300 million.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 11:46 am

TAP

Molson Coors Beverage Co has entered into Amendment No.1 & Extension Agreement, which amends a previously amended and restated credit deal dated June 26, 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 8:18 pm

IP

Suzano SA, the Brazilian pulp giant, is considering taking on up to $19 billion in debt to make a new bid for International Paper Co. (IP), after the initial offer was rejected as too low. Suzano aims to keep the combined company's net debt close to five times EBITDA.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 4:21 pm

GLD

TLT

The U.S. labor market showed strong resilience in May with nonfarm payrolls increasing by 272,000, surpassing expectations. This led to a rise in Treasury yields and a rally in the U.S. dollar index, causing declines in long-dated bonds and gold. Economists suggest that the robust data closes the door on a July rate cut by the Federal Reserve, with some predicting the earliest rate cut could be in September or December.

Portfolio Pulse from Piero Cingari

June 07, 2024 | 3:45 pm

GFL

GFL Environmental shares are trading lower after the company priced a $500 million senior notes offering.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 2:40 pm

IHRT

PIMCO has formed a separate creditor group for iHeartMedia and hired the law firm Davis Polk to assist in the process.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 2:25 pm

C

SPY

Citi has revised its forecast for the first Federal Reserve rate cut, moving it from July to September. This change could impact financial markets and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:57 pm

HTZ

Hertz shares are trading lower due to reports that the company is considering selling $700 million in secured debt and a convertible notes offering.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:39 pm

XCUR

Exicure shares are trading lower after the company reported FY23 results and announced that its cash and cash equivalents are insufficient to continue operations, necessitating additional funding in the very near term.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:11 pm

AAWH

CRLBF

CURLF

GTBIF

VRNOF

Verano Holdings (OTC:VRNOF) is projected to see a rise in sales and EBITDA, with potential profitability by 2025. The company is compared favorably against other multi-state operators (MSOs) like Green Thumb (OTC:GTBIF), Curaleaf (OTC:CURLF), Ascend Wellness (OTC:AAWH), and Cresco Labs (OTC:CRLBF).

Portfolio Pulse from Nicolás Jose Rodriguez

June 07, 2024 | 12:17 pm