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Alexandria Real Estate Equities has announced the pricing of its public offering of $400M 5.250% Senior Notes due 2036 and $600M 5.625% Senior Notes due 2054. The notes, guaranteed by Alexandria Real Estate Equities, L.P., are expected to close on February 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 6:27 am

API

DB

NYCB

The commercial real estate sector's struggles have led to a significant drop in regional bank stocks, highlighted by New York Community Bancorp, Inc.'s (NYCB) 40% drop due to a Q4 loss from distressed loans. Other banks like Agora Inc (API) and Deutsche Bank AG (DB) also faced declines. The looming $2.2 trillion debt in the US commercial property sector threatens smaller banks, with some offloading property loan portfolios to reduce exposure.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 2:22 am

KRE

NYCB

Regional bank stocks, including New York Community Bancorp (NYSE:NYCB), have plunged due to concerns over commercial real estate exposure. The SPDR S&P Regional Banking ETF (NYSE:KRE) fell over 11% in two days, marking its worst slump since March 2023. Analysts have downgraded NYCB's price target and expressed concerns over the sector's exposure to commercial real estate loans, with NYCB having the highest concentration at 56% of total loans.

Portfolio Pulse from Piero Cingari

February 01, 2024 | 4:46 pm

BTCUSD

ETHUSD

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin fell after the Fed left rates unchanged, signaling a temporary setback. Meanwhile, a new ETF allows investment in major tech stocks, and Binance faces a lawsuit for allegedly aiding terrorists. In the US, market sentiment declined following the Fed's decision, impacting stocks and the Dow. Globally, tensions with Iran and China's cyber activities raise concerns. Economic indicators suggest a looming recession, while in tech, Apple's new products and partnerships draw attention. The electric vehicle sector sees advancements and legal challenges for Tesla.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 1:22 pm

STIX

Semantix has entered into a strategic partnership with SPC Grafeno to improve the credit market in Brazil. This collaboration aims to leverage Semantix's advanced data analytics and SPC Grafeno's financial expertise to offer more efficient and reliable credit services in Brazil.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:58 pm

GTE

Gran Tierra Energy Inc. announced a private offering of an additional amount of its 9.5% Senior Secured Amortizing Notes due 2029. This move is aimed at raising capital, possibly for debt refinancing, investments, or operational enhancements.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:48 pm

CLVT

Clarivate announced the successful refinancing of its Term Loan B credit facility and the extension of the maturity date of its revolving credit facility. This financial restructuring aims to improve the company's debt profile and financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 12:14 pm

RKLB

Rocket Lab USA Inc (RKLB) shares dropped after announcing a private offering to raise $275 million through convertible senior notes due 2029. The proceeds will fund capped call transactions and repay part of its equipment financing. This follows preliminary Q4 results with expected revenues of $59-$61 million, gross margins of 24.8%-26.8%, and a net loss of $49-$52.5 million. The company's stock fell 2.61% and an additional 12.01% after hours.

Portfolio Pulse from Adam Eckert

January 31, 2024 | 9:54 pm

QQQ

SPY

Federal Reserve Chair Jerome Powell indicated that a March rate cut is unlikely, emphasizing a data-dependent approach and the need for sustained inflation at 2% before considering rate reductions. This statement led to a downturn in the stock market, with the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) experiencing losses, while the U.S. dollar index (DXY) strengthened.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 8:56 pm

SPY

Federal Reserve Chair Jerome Powell indicated that the Overnight Reverse Repurchase Agreement (ONRRP) doesn't need to reach zero for the Fed to begin winding down its quantitative tightening (QT) program. He also mentioned that if inflation data comes in stronger than expected, leading to an uptick in inflation, the Fed may slow down or delay the QT process.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 8:15 pm