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Credit

TRP

TC Energy announced the expiration of its offers to purchase up to C$350 million of TransCanada Pipelines' outstanding notes. This move is part of their financial strategy to manage debt.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 11:40 am

BA

Boeing Co. (NYSE:BA) has halted negotiations with striking workers after failed attempts to reach an agreement, leading to a negative watch on its credit rating by S&P Global Ratings. The strike, now in its fourth week, could result in $10 billion cash outflows in 2024. Additionally, Boeing faces safety concerns with the FAA issuing an alert on potential rudder system jams on Boeing 737 airplanes.

Portfolio Pulse from Benzinga Neuro

October 09, 2024 | 10:40 am

HTGC

Hercules Capital has received a reaffirmation of its investment-grade credit and corporate rating of Baa3 from Moody's Investors Service, with an improved outlook to positive.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 10:08 am

BA

Boeing's credit rating has been placed on negative watch by S&P due to a machinist strike, which is causing significant financial strain. The strike is delaying production goals and may lead Boeing to issue new stock to raise $10 billion. Safety issues and labor disputes add to Boeing's challenges.

Portfolio Pulse from Benzinga Neuro

October 09, 2024 | 8:35 am

CNH

CNH Industrial N.V. announced that its subsidiary, CNH Industrial Capital Canada Ltd., has priced C$300 million in 4-year senior unsecured notes at 4.00% due April 2028. The proceeds will be used for general corporate purposes, including working capital and debt repayment.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 7:13 am

DKL

Delek Logistics Partners has priced a public offering of 3,846,153 common units at $39 per unit. The proceeds will be used to redeem convertible preferred units and repay borrowings under its credit agreement.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 6:21 am

CLF

Cleveland-Cliffs has announced the pricing and upsizing of $900M of Senior Guaranteed Notes due 2029 and $900M due 2033. The proceeds will be used to finance the acquisition of Stelco Holdings Inc., expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:47 pm

KRG

Kite Realty Group has recast its $1.1 billion unsecured revolving credit facility and amended its $250 million term loan facility. These financial adjustments are likely aimed at improving liquidity and financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:19 pm

BA

S&P has placed Boeing Co.'s ratings, including its 'BBB-' issuer credit rating, on CreditWatch Negative due to financial risks associated with a strike. Boeing may need additional funding to maintain its cash balance, fund operations, and meet debt obligations.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 8:00 pm

DXPE

DXP Enterprises has refinanced its Senior Secured Term Loan B, raising an additional $105 million, bringing total borrowings to $649.5 million. The company reduced its borrowing margin by 100 basis points and plans to use the proceeds for debt repayment, acquisitions, and general corporate purposes, maintaining flexibility for growth and reinvestment.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 6:26 pm