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SPY

The U.S. Department of the Treasury has announced a new Series I bond rate of 5.27% for the period from November 1 through April 2024. This is an increase from the previous rate of 4.3%.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 2:13 pm

HERTF

Heritage Cannabis Holdings Corp. (OTCQX:HERTF) has agreed to sell its real estate properties in Ontario and British Columbia to BJK Developments Ltd. for $9,714,475 and lease them back. The deal will reduce Heritage's term debt by about 64% to $5,256,379. The company also retains an option to repurchase the properties for two years. The remaining term financing has been extended to Jan. 31, 2025. Heritage also retains its revolving line of credit of up to $5 million with BJK.

Portfolio Pulse from Jelena Martinovic

October 31, 2023 | 1:20 pm

SCNI

Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI) announced that the European Investment Bank (EIB) is considering extending the maturity of its financial facility contract with the company. This comes after Scinai's strategic shift from COVID-19 antibody development to a novel antibody for psoriasis treatment and the launch of a CDMO business unit. The potential extension could positively impact Scinai's shareholders' equity and help the company comply with Nasdaq's minimum shareholders' equity listing rules.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:12 pm

UPST

Encurage Financial Network has announced a partnership with Upstart (NASDAQ:UPST), an AI lending marketplace, to provide personal loans. Encurage became an Upstart Referral Network lending partner in February 2023, allowing qualified personal loan applicants on Upstart.com who meet Encurage's credit policies to receive tailored offers.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:10 pm

BUD

AB InBev expects its FY23 EBITDA to grow between 4-8% and revenue to grow ahead of EBITDA. The company anticipates net finance costs to be in the range of $200M to $230M per quarter, with an average gross debt coupon of approximately 4%. The normalized ETR is expected to be between 27% and 29%. Net capital expenditure is projected to be between $4.5B and $5.0B.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:56 am

CNI

Canadian National Railway (CNI) has announced a $600 million debt offering. The offering is split into two parts: $300 million 5.850% notes due 2033 and $300 million 6.125% notes due 2053.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:21 am

BMY

Bristol Myers Squibb has priced $4.5 billion of senior unsecured notes to be issued in four tranches. The closing of the offering is expected to occur on November 13, 2023, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:15 am

SIEN

Sientra, Inc. (NASDAQ:SIEN) has reported preliminary unaudited financial results for Q3 2023, with expected revenue in the range of $19.2 million to $19.7 million, lower than the estimated $24.25 million. The company attributes the lower revenue to market softness and seasonal headwinds. Sientra has withdrawn its fiscal year 2023 guidance due to expected volatility in Q4. The company is exploring strategic alternatives to improve its balance sheet.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:08 pm

TLT

The U.S. Treasury Department has lowered its Q4 borrowing estimate to $776 billion, down from the previously predicted $852 billion. This reduction is due to substantial deferred tax receipts from states that received extensions because of natural disasters. Despite the lower borrowing estimate, the bond market didn’t rally as expected on Monday. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) experienced a 0.4% drop in value.

Portfolio Pulse from Piero Cingari

October 30, 2023 | 9:05 pm

SITC

SITE Centers has announced the spin-off of its convenience portfolio into a separate publicly-traded REIT named Curbline Properties Corp. Curbline will be the first public REIT exclusively focused on the convenience sector. SITE Centers has sold $646M of assets since June 30, 2023, at a 6.5% cap rate and has $242M of additional assets under contract for sale. The company has obtained a $1.1B financing commitment, with proceeds expected to be used to repay all outstanding unsecured debt. SITE Centers has declared a Q4 dividend of $0.13 per share and expects to declare and pay a special cash dividend of at least $0.10 per share prior to January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:00 pm