Streetbeat News

Credit

ELECF

Electric Royalties Ltd. has drawn down C$3,050,000 from its C$10,000,000 convertible credit facility to fund the acquisition of a 0.75% Gross Revenue Royalty on the Punitaqui copper mine in Chile.

Portfolio Pulse from

November 27, 2024 | 1:00 am

BAC

The Financial Stability Board (FSB) has adjusted the capital requirements for global systemically important banks (G-SIBs) for 2024. Bank of America has been assigned a lower capital requirement, indicating a shift in its risk assessment by the FSB.

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November 27, 2024 | 12:00 am

CNTMF

Cansortium Inc. has secured a new senior credit agreement worth up to $96.5 million with Chicago Atlantic, ahead of its planned business combination with RIV Capital. The agreement has a 12% cash interest rate and 1% PIK interest, maturing in 2028.

Portfolio Pulse from

November 26, 2024 | 9:45 pm

MTX

Minerals Technologies Inc. (MTX) has successfully refinanced its debt by closing a new $575 million Term Loan B and increasing its Revolving Credit Facility from $300 million to $400 million, extending the maturity to 2029.

Portfolio Pulse from

November 26, 2024 | 9:45 pm

BAC

Bank of America announced the redemption of $2 billion in 1.530% Fixed/Floating Rate Senior Notes due December 2025, effective December 6, 2024.

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November 26, 2024 | 9:30 pm

STRS

Stratus Properties Inc. has completed a $33 million refinancing of its Kingwood Place project, a retail development in Texas. The new non-recourse loan has a lower interest rate and matures in December 2027.

Portfolio Pulse from

November 26, 2024 | 9:15 pm

ATRO

Astronics Corporation's $150 million convertible note offering caused a 15% drop in its stock price due to shareholder concerns about dilution and future cash flow. The funds will repay a term loan and part of a credit facility, extending debt maturity to 2030. The market is skeptical about Astronics' growth and shareholder value generation.

Portfolio Pulse from

November 26, 2024 | 9:00 pm

SAN

Stephen Stanley, chief U.S. economist at Santander U.S. Capital Markets, predicts that the Federal Reserve will cut interest rates again in December. This follows the discussion of November's Federal Reserve minutes.

Portfolio Pulse from

November 26, 2024 | 8:00 pm

FA

First Advantage maintains a hold rating due to macroeconomic uncertainties and increased leverage after merging with STER. Despite the merger, growth remains poor, with concerns about liquidity if negative conditions persist.

Portfolio Pulse from

November 26, 2024 | 7:15 pm