Streetbeat News

Credit

VTLE

Vital Energy, Inc. (VTLE) plans to offer $100 million in 7.875% senior notes due 2032 in a private placement. The proceeds are intended for repaying or repurchasing debt, including cash tender offers for its 10.125% senior notes due 2028 and 9.750% senior notes due 2030, or for general corporate purposes. The notes will be guaranteed by Vital Midstream Services, LLC and certain future subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:36 am

GEO

The GEO Group has initiated a refinancing process for its Tranche 1 and Tranche 2 Term Loans, with $906.7M outstanding as of December 31, 2023. The company aims to secure $1.6 billion in financing and a $310.0 million revolving credit facility to repay existing debts and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:58 am

QRHC

Quest Resource has improved its financial flexibility by extending the maturity dates of its Monroe and PNC Credit Agreements to October 19, 2026, and April 19, 2026, respectively. Additionally, the PNC Credit Agreement has been upsized, the interest rate adjusted, and an equipment term loan of up to $5 million has been introduced.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:12 am

MCW

Mister Car Wash successfully completed a series of transactions to refinance its capital structure, including upsizing and extending its Term Loan B to $925 million due in 2031 and its Revolving Credit Facility to $300 million due in 2029. These moves extend debt maturities, increase liquidity, and support the company's growth.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:05 am

MIMO

Airspan Networks Inc. is set to receive up to $95 million in new equity financing and will eliminate all existing funded debt. The company has entered an agreement with creditors to strengthen its financial foundation and adjust its balance sheet. As a result, Airspan will transition into a private entity, majority-owned by Fortress, with a robust balance sheet and enhanced financial flexibility. The company will continue its operations normally while it undergoes a prepackaged recapitalization process, which is expedited and has the full support of all major creditors. Additionally, Airspan has secured over $53 million in Debtor-in-Possession (DIP) financing to support its operations during this period.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 6:35 am

TIP

Economist Peter Schiff criticizes the Federal Reserve's plan for three rate cuts this year, warning of a more severe crisis than 2008 due to 'misguided' optimism by Jerome Powell. Schiff points to rising gold prices and the CRB commodity index as indicators of inflation contrary to the Fed's expectations. He suggests that the Fed's current monetary policy is too loose and that the planned rate cuts could be a significant policy blunder.

Portfolio Pulse from Shanthi Rexaline

March 30, 2024 | 8:07 pm

ATAI

META

MNMD

PSIL

TSLA

Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

KRE

'Rich Dad Poor Dad' author Robert Kiyosaki predicts a financial crisis in the US similar to China's, impacting baby boomers' retirement plans. He attributes the crisis to the collapse of major entities in China and warns of similar issues in the US commercial real estate sector. Kiyosaki advises investing in tangible assets like gold, silver, and Bitcoin over fiat currency or real estate investment trusts (REITs). The SPDR S&P Regional Banking ETF (KRE) is mentioned in relation to the challenges faced by the US banking system, including the exposure of regional banks to commercial real estate.

Portfolio Pulse from Shanthi Rexaline

March 29, 2024 | 12:12 pm

MA

V

Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) have reached a $30 billion settlement with U.S. merchants, ending two decades of antitrust litigation over swipe fees and merchant restrictions. The settlement includes capping credit interchange rates for five years, offering savings to merchants, and enhancing consumer payment options. Meanwhile, credit card APRs are on the rise, with the average new card offer at 24.66%, despite the Federal Reserve's current stance on rates.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 7:20 pm

RILY

B. Riley Financial's shares increased in value following the announcement that the company has obtained an extension for the delivery of its 2023 audited financial statements under its current credit agreement.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:06 pm