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CVNA

Carvana Co. has launched private exchange offers up to $4.275 billion and a $425 million cash tender offer relating to existing notes. The company is also soliciting consents from holders of the notes.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:17 am

ELVA

Electrovaya Inc. (NASDAQ:ELVA) has provided an update on its planned gigafactory in Jamestown, New York. The first phase of construction is expected to cost around $48 million, with over 80% of this covered by government-backed debt. The company has also been awarded more than $10 million in incentives from various jurisdictions. The factory will produce Electrovaya's Infinity line of lithium-ion ceramic batteries. The company plans to begin battery system assembly at the factory in Q1 2024.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:02 am

BAH

Booz Allen Hamilton Holding Corporation (BAH) has priced a $650 million debt offering through its subsidiary, Booz Allen Hamilton Inc. The 5.950% Senior Notes are due in 2033 and the offering is expected to close on August 4, 2023. The company plans to use the proceeds to repay outstanding revolving borrowings and for general corporate purposes.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 10:48 am

CCL

CUK

Carnival Corporation has issued notices of redemption for $1.2 billion of debt. The company also announced the pricing of a $500 million 7.00% first-priority senior secured notes offering, and the upsizing and pricing of a $1.3 billion senior secured first lien term loan B facility.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:40 am

BAH

Booz Allen Hamilton has priced its $650 million 5.950% senior notes due 2033.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:39 am

YELL

Yellow Corp. (NASDAQ:YELL), a trucking company that received a $700 million loan from the U.S. government in 2020, has ceased operations and is expected to declare bankruptcy. The loan, which gave the Treasury Department a 30% equity stake in the company, is now at risk. The handling of the loan by the Trump administration has been scrutinized in at least three government investigations.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 10:35 am

TMC

TMC the metals company Inc. (NASDAQ:TMC) provided a corporate update on its NORI-D Nodule Project, including expected development timeline, production capacity, and application costs. The company plans to submit an application to the International Seabed Authority (ISA) for an exploitation contract for NORI Area D in July 2024, with production expected to start in Q4 2025. TMC and its partner Allseas plan to increase production capacity from 1.3 million to 3.0 million wet tonnes per annum. The company estimates it will require $60 to 70 million of additional cash to submit the application.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:35 am

AAVEUSD

BNBUSD

CRVUSD

Crypto research firm Delphi Digital has raised concerns about the potential for a DeFi implosion triggered by the $100 million debt of Curve Finance (CRYPTO: CRV) founder, Michael Egorov. Egorov has a massive loan backed by approximately 427.5 million CRV tokens, which is about 47% of the entire circulating supply of CRV. With CRV's value declining by 10% in the past 24 hours, the stability of Curve Finance is under threat. Egorov also has debts on the Aave (CRYPTO: AAVE) and Frax Finance platforms. Delphi Digital warns that these large positions at risk pose serious concerns to the CRV price considering the low amount of liquidity that exists.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 10:29 am

SEDG

SolarEdge (SEDG) has reported that the US residential solar market is facing headwinds primarily due to higher interest rates.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:24 am

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that his baseline outlook does not foresee any rate cuts until the second half of 2024 at the earliest.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:21 am