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PFSI

PennyMac Financial Services has announced the pricing of a private offering of $650 million in senior notes.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 9:18 pm

PTON

Peloton Interactive Inc (NASDAQ:PTON) shares dropped 8.4% in after-hours trading following the announcement of a global refinancing initiative. The company plans to offer $275 million in convertible senior notes due 2029 and enter into a $1 billion term loan facility and a $100 million revolving credit facility. Proceeds will be used to repurchase $800 million of its 0.00% convertible senior notes due 2026 and refinance existing loans. This follows a recent CEO transition and restructuring efforts aimed at reducing costs.

Portfolio Pulse from Adam Eckert

May 20, 2024 | 8:39 pm

OC

Owens Corning (NYSE:OC) has announced May 22, 2024, as the Early Settlement Date for its exchange offer and consent solicitation involving Masonite International Corporation's 3.50% Senior Notes due 2030. The exchange offer and consent solicitation are subject to the terms and conditions set forth in the offering memorandum and consent solicitation statement dated May 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:27 pm

PTON

Peloton Interactive announced a private offering of $275 million in convertible senior notes due 2029. This move aims to raise capital for general corporate purposes and potential strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:07 pm

SPY

Federal Reserve's Mester stated that the Fed could cut rates if there is an unforeseen deterioration in the real economy. Conversely, if inflation stalls or reverses, the Fed may hold or even raise rates. Mester emphasized the need for careful monitoring of the economy.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 6:11 pm

GTN

Gray Television, Inc. (NYSE: GTN) announced plans to offer up to $1 billion in senior secured first lien notes due 2029, subject to market conditions. The offering is part of a broader Credit Agreement Refinancing, which includes a new $750 million term loan, an increase in its revolving credit facility by $55 million, and the termination of a $72.5 million tranche maturing in 2026. The completion of these financial moves is interdependent and subject to market conditions.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:41 pm

SPY

SF Fed President Mary Daly stated that she is not yet confident that inflation is coming down sustainably to 2% and does not see any evidence currently that would necessitate raising interest rates.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:10 pm

SPY

Fed Vice Chair Jefferson stated that it is appropriate to return to a more normal balance sheet, noting that banking system reserves are still abundant. He mentioned that no one knows the exact size the balance sheet will need to be, and a gradual approach will allow the Fed to shrink holdings with low risk of stress.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:59 pm

JPM

JP Morgan's Co-CEO of Commercial & Investment Bank, Troy Rohrbaugh, announced that the bank will continue to be a significant player in the private credit market during Investor Day.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:58 pm

SPY

Fed Vice Chair Jefferson stated that the policy rate is currently in restrictive territory. He noted improvements in the labor market and a decline in inflation, although not as quickly as desired. The Fed will continue to assess incoming data and the evolving outlook to set the appropriate policy rate.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 2:30 pm