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AZN

AstraZeneca Inc. (NASDAQ:AZN) has seen its shares decrease by 10.16% over the past three months. The company's total debt stands at $16.81 billion, with $14.50 billion in long-term debt and $2.31 billion in current debt. After adjusting for $5.02 billion in cash-equivalents, the net debt is $11.79 billion. The company's debt-ratio is 0.27, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 8:45 pm

KODK

Eastman Kodak Co (KODK) shares rose by 16.68% after the company announced a Term Loan Amendment, modifying their existing credit agreement. The amendment involves Kennedy Lewis Investment Management LLC and Alter Domus (U.S.) LLC, with the Refinancing Term Loan Lenders committing to provide the company with $450 million in term loans. The funds will be used for various purposes, including refinancing existing loans, repaying credit facility commitments, and meeting general corporate and working capital needs.

Portfolio Pulse from Henry Khederian

July 07, 2023 | 7:03 pm

AVGO

Broadcom Inc.'s shares rose by 37.84% over the past three months. The company's total debt stands at $39.31 billion, with long-term debt at $38.19 billion and current debt at $1.12 billion. After adjusting for $11.55 billion in cash-equivalents, the net debt is $27.76 billion. The debt ratio, a measure of financial leverage, is 0.55, indicating that a significant portion of the company's assets are funded by debt.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 6:31 pm

AMGN

Amgen Inc.'s (NASDAQ:AMGN) shares have dropped by 12.70% over the past three months. The company's total debt stands at $61.59 billion, with $60.76 billion in long-term debt and $834.00 million in current debt. After adjusting for $31.56 billion in cash-equivalents, the net debt is $30.04 billion. The debt-ratio, a measure of financial leverage, is at 0.69 considering Amgen's $88.72 billion in total assets.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 5:15 pm

BX

Viral Patel, Blackstone Credit's global head of technology investing, sees private credit as an attractive option for tech firms amidst a sluggish IPO market. Patel disclosed Blackstone's focus on cash flow-based loans and the shift from ARR loans to EBITDA-based loans for companies reducing top-line growth. He also expressed a positive outlook on IPOs and a preference for cybersecurity and software companies catering to corporations' increasing data volume.

Portfolio Pulse from Anusuya Lahiri

July 07, 2023 | 4:44 pm

IGC

IGC Pharma, Inc. (AMEX:IGC) has secured a $12 million credit from the Hong Kong Branch of O-Bank Co., Ltd. The funding will support IGC's working capital needs primarily related to Alzheimer's research. The company's IGC-AD1 is currently in Phase 2 of clinical trials as a potential treatment for agitation in dementia due to Alzheimer's. Bradbury Asset Management has collateralized cash assets in support of the line of credit.

Portfolio Pulse from Nabaparna Bhattacharya

July 07, 2023 | 4:43 pm

LCID

Lucid Group Inc's (LCID) shares are trading higher by 4.8% to $7.42, rebounding after Thursday's weakness. The rise is attributed to better-than-expected U.S. jobs data, which could lead to further rate hikes. Higher interest rates can increase the cost of capital for electric vehicle companies like Lucid, impacting their ability to secure favorable terms for raising funds and potentially leading to higher component prices.

Portfolio Pulse from Henry Khederian

July 07, 2023 | 3:47 pm

AEP

American Electric Power Inc.'s (NASDAQ:AEP) shares fell by 10.15% in the past three months. The company's total debt stands at $43.21 billion, with $36.24 billion in long-term debt and $6.97 billion in current debt. After adjusting for $343.50 million in cash-equivalents, the net debt is $42.86 billion. The company's debt-ratio is 0.46, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 07, 2023 | 1:45 pm

WWW

Wolverine World Wide Inc (NYSE:WWW) has amended its existing Credit Agreement to adjust the maximum consolidated leverage ratio from 4.5x EBITDA to 4.875x EBITDA for the remainder of fiscal 2023. The company expects the amendment to provide near-term financial and operational flexibility. The financial covenant thresholds will revert to pre-existing levels in the first quarter of fiscal 2024. WWW shares traded higher by 0.88% at $14.40 on the last check Friday.

Portfolio Pulse from Shivani Kumaresan

July 07, 2023 | 1:42 pm

IGC

IGC Pharma has secured a $12 million line of credit from O-Bank to strengthen its Alzheimer's research efforts.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 1:17 pm