Streetbeat News

Credit

GSBD

Goldman Sachs BDC has been downgraded from a buy to a hold due to credit quality concerns, declining NAV, and top/bottom line erosion. Despite improvements like higher originations and lower non-accruals, persistent headwinds remain a concern.

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November 20, 2024 | 12:30 pm

RVYL

RYVYL Inc. has amended its Memorandum of Understanding to extend the first tranche payment for retiring its 8% Senior Convertible Note and Series B Convertible Preferred Stock to November 29, 2024.

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November 20, 2024 | 12:15 pm

TPC

Tutor Perini Corporation has announced a $100 million pre-payment of its Term Loan B debt, further strengthening its balance sheet. This follows a previous $50 million paydown, totaling $150 million in debt reduction over the past month.

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November 20, 2024 | 11:15 am

BNC

Banco Santander's UK division has set aside £295 million for potential compensation claims related to motor finance commissions. This follows a Court of Appeal ruling that motor dealers, acting as credit brokers, failed to disclose commissions on car loan sales.

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November 20, 2024 | 8:30 am

NVGS

Navigator Holdings (NVGS) has shown strong performance with a 12.3% YTD gain. The company reported increased YoY revenue and EBITDA in 3Q24, and restructured its balance sheet to lower capital costs and extend debt maturity by five years.

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November 20, 2024 | 5:45 am

CCB

Coastal Financial's earnings outlook appears priced in, with stable credit demand expected to drive both non-interest and net interest income. The liability-sensitive nature of CCB's books suggests that rate cuts will benefit net interest income by reducing funding costs more than asset yields.

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November 20, 2024 | 1:00 am

BABA

Alibaba Group has announced the pricing of a US$2.65 billion offering of U.S. dollar-denominated senior unsecured notes and a RMB17 billion offering of RMB-denominated senior unsecured notes. This move is part of Alibaba's strategy to raise capital through debt issuance.

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November 20, 2024 | 12:15 am

VST

Vistra Corp. has announced the pricing of a $1.25 billion private offering of senior secured notes, with $500 million due in 2026 and $750 million due in 2034. The offering is targeted at qualified institutional buyers and certain non-U.S. persons.

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November 19, 2024 | 10:45 pm

PARA

Shari Redstone has paid off a $186 million loan to Paramount's lenders, with significant financial support from Larry Ellison. This payment was made to creditors of National Amusements, which holds a majority of Paramount's voting stock.

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November 19, 2024 | 10:45 pm

DLX

Deluxe (NYSE: DLX) has announced the pricing of $450 million in senior secured notes due 2029, with an interest rate of 8.125% per annum. The offering was increased from $400 million to $450 million and is expected to close on December 3, 2024.

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November 19, 2024 | 10:00 pm