Streetbeat News

Credit

BIG

Gordon Brothers has provided Big Lots Inc. with a $200 million delayed draw term loan to support strategic initiatives and enhance working capital flexibility. This partnership aims to assist Big Lots in its turnaround strategy by offering financial flexibility and enabling the execution of short- and long-term strategies.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:21 pm

TARS

Tarsus Pharmaceuticals has secured a $200M non-dilutive financing commitment from Pharmakon Advisors, aimed at strengthening its financial position and refinancing existing debt. This strategic move is expected to provide Tarsus with enhanced financial flexibility and support its ongoing and future projects.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 12:31 pm

FXI

SPY

Chinese regulators are conducting inspections on the cross-border mechanism for investment in local governments' offshore bonds to manage financial risks, according to Reuters.

Portfolio Pulse from Charles Gross

April 23, 2024 | 10:22 am

FRGT

Freight Technologies, Inc. (FRGT) reported Q1 2024 revenue of $4.3M, a 30% increase over the previous year, with Fr8Fleet volume growing 25% sequentially over Q4 2023. The company is expanding its credit facility from $5M to $6M to support working capital and further development of its Fr8App platform. FRGT is forecasting 2024 annual revenue of $25M to $30M, driven by strong demand for domestic and cross-border freight services within the USMCA region.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:06 pm

DNMR

Danimer Scientific has secured a $20M asset-based revolving credit facility, with an option to increase the commitment by an additional $5 million. The facility matures on April 19, 2027, but can mature earlier if certain events occur.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 12:40 pm

BAR

GLD

UGL

Billionaire investor Ray Dalio advocates for gold as a hedge against inflation and a potential debt crisis, citing global debt concerns. He highlights the depreciative risk of currencies due to excessive debt levels in major economies. Amidst this backdrop, gold ETFs like ProShares Ultra Gold (UGL), GraniteShares Gold Trust (BAR), and SPDR Gold Trust (GLD) have shown significant returns, with UGL leading at a 29.17% year-to-date return. Dalio's stance on gold aligns with his broader economic warnings, including a potential 'lost decade' for China if debt issues are not addressed.

Portfolio Pulse from kaustubh@benzinga.com

April 22, 2024 | 6:28 am

FXI

The China Loan Prime Rate (LPR) for 5 years remains unchanged at 3.95% for April, indicating stability in the country's lending rate.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:13 am

TLT

IMF deputy chief Gita Gopinath highlighted the unsustainable U.S. fiscal deficit, currently at 7% of GDP, with projections showing it remaining above 6% through 2029. The U.S. government debt-to-GDP ratio is expected to rise from 122% to 134% by 2029. Gopinath warned of global economic stability risks and higher borrowing costs due to U.S. debt dynamics. Despite expectations of lower interest rates, the fiscal challenges persist, with the iShares 20+ Year Treasury Bond ETF (TLT) experiencing a 9% decline this year.

Portfolio Pulse from Piero Cingari

April 19, 2024 | 3:41 pm

SPY

Fed's Goolsbee highlights concerns over rising delinquencies in the economy, stating that while current levels are similar to pre-COVID times, such measures historically signal potential issues. Emphasizing a forward-looking policy approach, he indicates the Fed's intent to preemptively address economic challenges.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 3:15 pm

BIG

Big Lots has expanded its borrowing capacity by up to $200M through a new 'First In, Last Out' (FILO) Term Loan Facility. This facility is in addition to the company's existing $900 million asset-based revolving loan facility, significantly enhancing Big Lots' liquidity position.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 9:44 pm