Streetbeat News

Credit

VVX

V2X has repriced and extended its $907 million first lien term loan to December 2030.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 12:24 pm

PNW

Pinnacle West Capital Corp. (NYSE:PNW) announced a proposed offering of $450 million in convertible senior notes due 2027. The proceeds will be used for general corporate purposes, including debt repayment, working capital, and investments in its subsidiary, Arizona Public Service Company.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 10:52 am

TIP

Former Treasury Secretary Larry Summers warns that Donald Trump's re-election could lead to significant inflationary pressures, potentially pushing mortgage rates above 10%. Summers criticizes Trump's economic policies, which include compromising the Federal Reserve's independence, enlarging the federal budget deficit, raising tariffs, and restricting immigration. The iShares TIPS Bond ETF (NYSE:TIP) saw a rise in premarket trading amid these inflation concerns.

Portfolio Pulse from Shanthi Rexaline

June 03, 2024 | 9:48 am

MCHP

Microchip Technology has entered into an agreement to issue and sell $1.1 billion in aggregate principal amount of 0.75% convertible senior notes due 2030.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 8:23 pm

SPY

TLT

The Personal Consumption Expenditure (PCE) price index, a key inflation gauge for the Federal Reserve, remained steady in April, aligning with expectations. This has led to mixed reactions among economists regarding potential rate cuts. Treasury yields fell, boosting bond assets like the iShares 20+ Year Treasury Bond ETF (TLT), while stocks, including the SPDR S&P 500 ETF Trust (SPY), weakened.

Portfolio Pulse from Piero Cingari

May 31, 2024 | 3:05 pm

BFI

BurgerFi has entered into a forbearance agreement and a 17th amendment to its existing credit facilities with TREW Capital Management Private Credit 2. The secured parties have agreed to forbear from exercising their rights under the credit documents until at least July 31, 2024. Additionally, L Catterton and TREW have each agreed to lend up to $2 million to assist during this strategic review process.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:13 pm

BFI

BurgerFi has appointed David Heidecorn as the new Chairman of the Board, succeeding Ophir Sternberg. The company has also entered into a Forbearance Agreement and Seventeenth Amendment to its credit facilities with TREW Capital Management, and both L Catterton and TREW have agreed to lend up to $4 million collectively to assist during a strategic review process.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:59 pm

HTZ

Hertz Global Holdings Inc. is exploring options to raise financing, working with financial advisers to weigh its options. This comes after the new CEO pledged to get the company back on track following a failed bet on electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:54 pm

PTON

Peloton has completed a $1.35 billion refinancing, which is expected to improve its financial stability and provide additional liquidity.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:53 pm

PHR

Phreesia has revised its fiscal year 2025 revenue outlook to $416M-$426M from $424M-$434M, citing the accelerated wind-down of a clearinghouse client relationship. Adjusted EBITDA outlook has been updated to $21M-$26M from $12M-$20M. The company believes its cash reserves and credit facility provide sufficient flexibility for future growth.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 8:17 pm