Streetbeat News

Credit

GEL

Genesis Energy, L.P. (GEL) has initiated a public offering of $500 million in senior unsecured notes due 2032, co-issued with Genesis Energy Finance Corporation. The proceeds will be used to redeem existing senior notes due 2026 and for general partnership purposes. RBC Capital Markets, LLC leads the offering.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:55 am

GTX

Garrett Motion Inc. (GTX) announced a proposed private offering of $500M of senior unsecured notes due 2032 to repay term loan indebtedness and cover related fees. The notes, guaranteed by GTX and its subsidiaries, aim to improve the company's financial structure.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 11:53 am

CLDT

Chatham Lodging Trust (CLDT) projects Q2 2024 total hotel revenue between $84.3M-$85.4M and adjusted FFO per share of $0.33-$0.36, below the consensus of $0.42. The guidance includes assumptions such as no renovations, repayment of a $29M mortgage, $50M in additional term loan borrowings, and $60M in CMBS debt issuance, with no further acquisitions, dispositions, or equity issuance planned.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 10:39 am

AAWH

CRLBF

CURLF

GTBIF

TCNNF

VRNOF

The DEA's rescheduling of cannabis to Schedule III has caused significant market volatility for multi-state operators (MSOs), with the MSO index initially surging by 25% and then dropping by 15%. Viridian Capital Advisors highlights the impact on MSOs' credit ratings and financial health, noting Green Thumb Industries' favorable deal, Trulieve's balanced risk-return profile, and the high yields but high risks for companies like Ascend Wellness, Verano, Cresco, and Curaleaf.

Portfolio Pulse from Nicolás Jose Rodriguez

May 03, 2024 | 3:57 pm

ATUS

Altice USA is reportedly consulting with Moelis & Co. to explore options for managing its $25 billion debt load, according to Bloomberg. This move indicates the company is seeking strategic ways to handle its financial obligations.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 3:27 pm

SPY

Fed's Goolsbee comments on the potential risks of the Federal Reserve being overly restrictive for too long, highlighting the importance of considering the employment aspect of its mandate. He notes that current economic indicators remain solid, but warns that shifts in the business cycle, marked by deteriorating credit and rising unemployment, are usually pronounced, though such signs have not been observed yet.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 2:47 pm

SPY

Fed's Bowman stated her baseline outlook is for further inflation decline with the policy rate held steady, but she is open to raising the federal funds rate if inflation progress stalls or reverses. She acknowledges upside inflation risks and will closely monitor data to assess monetary policy.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:48 pm

TDS

Telephone And Data Systems (TDS) has announced a new $375 million unsecured debt financing agreement with funds managed by Oaktree Capital Management. This move is aimed at bolstering TDS's financial flexibility and supporting its future growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:38 am

CGC

Canopy Growth Corporation (CGC) announced a financing deal expected to bring in US$50 million in gross proceeds and the exchange of approximately C$27.5 million of existing debt for a new convertible debenture, aiming to strengthen its balance sheet. The agreement with an institutional investor involves issuing a senior unsecured convertible debenture maturing five years from the closing date, set for May 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:37 am

GB

Global Blue Group Holding AG (NYSE:GB) has shown strong recovery with EBITDA and cash flow growth, reducing net leverage from 4.5x to 3.6x from September to December 2023. The company is on track to meet its leverage target of less than 2.5x. Consequently, it has launched a repricing of its €610 million term loan and €97.5 million revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:21 am