Streetbeat News

Credit

TRI

Thomson Reuters has initiated debt exchange offers and consent solicitations, involving the exchange of old notes for new notes issued by its subsidiary, TR Finance LLC. The new notes will have the same terms as the old ones and will be guaranteed by Thomson Reuters and its subsidiaries.

Portfolio Pulse from

February 11, 2025 | 10:15 pm

OB

Outbrain Inc. has successfully closed a private offering of $637.5 million in senior secured notes due 2030, with a 10% interest rate. The offering was conducted under Rule 144A/Reg S and is exempt from registration under the Securities Act.

Portfolio Pulse from

February 11, 2025 | 9:45 pm

ERJ

Embraer S.A. has announced a cash tender offer for its outstanding 5.400% senior unsecured guaranteed notes due 2027, issued by Embraer Netherlands Finance B.V.

Portfolio Pulse from

February 11, 2025 | 8:00 pm

CCAP

Crescent Capital BDC's baby bond FCRX offers a 7.16% yield to maturity, outperforming sector benchmarks by 2%. The company has a Baa2 credit score, strong profitability, asset quality, and leverage, but relies on refinancing unsecured notes.

Portfolio Pulse from

February 11, 2025 | 7:00 pm

ERJ

Embraer S.A. has announced a cash tender offer for its outstanding 5.400% senior unsecured guaranteed notes due 2027, issued by Embraer Netherlands Finance B.V.

Portfolio Pulse from

February 11, 2025 | 6:15 pm

BSBR

Banco Santander (Brasil) S.A. reported a 50% YoY increase in net income for Q4 2024, driven by lower delinquencies and a focus on higher-value credit segments. The bank's balance sheet grew 16% YoY, with cautious credit expansion and significant allocations to low-risk securities. Despite macro uncertainties, BSBR offers a 14% earnings yield and 6% dividend yield, presenting an attractive valuation if investor sentiment towards Brazilian assets improves.

Portfolio Pulse from

February 11, 2025 | 4:00 pm

OZK

Bank OZK's preferred stock is considered attractive due to strong net results, low loan loss provisions, and a robust loan book. The preferred shares offer a 6.55% yield and are trading at a 30% discount to par value, with potential for price appreciation if interest rates drop.

Portfolio Pulse from

February 11, 2025 | 3:45 pm

VET

Vermilion Energy Inc. has successfully closed a private offering of $400 million in senior unsecured notes, maturing in 2033 with a 7.25% coupon rate.

Portfolio Pulse from

February 11, 2025 | 3:45 pm

MPW

Medical Properties Trust (MPW) faces a high short interest of 45%, indicating potential risks. Despite its attractive low P/FFO and high yield, concerns about cash flow, dividend sustainability, and debt levels suggest caution. The valuation may not be as favorable when considering EV metrics.

Portfolio Pulse from

February 11, 2025 | 3:30 pm

FNMA

Greystone has provided a $20.8 million Fannie Mae DUS loan to refinance a 206-unit multifamily property in Allentown, Pennsylvania. The financing was originated by Avi Lifshitz and Aviel Hematian of Greystone for Pankaj Sharma of S&S Properties.

Portfolio Pulse from

February 11, 2025 | 3:30 pm