Latest news with #Citibank
AU Financial Review
13 hours ago
- Business
- AU Financial Review
ATO pursuing Adgemis for $162m, double what he has told creditors
Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal Connect with Max on Twitter. Email Max at
Business Recorder
14 hours ago
- Business
- Business Recorder
China, Hong Kong stocks fall after Politburo meeting, weak factory data
HONG KONG: China and Hong Kong shares tumbled on Thursday, led by property and commodity stocks, as a lack of stimulus signals from the Politburo meeting and sluggish factory data weighed on investor sentiment. In the much-anticipated Politburo meeting, top leaders pledged to support the economy by managing 'disorderly competition', but showed no sense of urgency to roll out big stimulus. Meanwhile, fresh data showed China's manufacturing activity shrank for a fourth straight month in July as demand at home and abroad weakened. Investors were also anxiously awaiting progress in U.S.-China trade talks with the truce deadline approaching, now that neighbouring South Korea has struck a deal and lowered tariff levels. The policy meeting did not reveal a fundamental shift in policy thinking on growth, which could be a potential letdown for some investors, while the trade talks also failed to deliver much details, Citibank's chief China economist Xiangrong Yu said in a note. 'The events could weigh on near-term market sentiment, more or less,' the economist said. At the midday break, the Shanghai Composite index was down 0.7% at 3,591.26 after closing at a nine-month high in the previous session. The blue-chip CSI300 index declined 1.1%, heading for its biggest single-day drop in nearly four months. In Hong Kong, the benchmark Hang Seng Index was down 1.1% at 24,906.39. Leading declines, the real estate index, fell 3.5% onshore and 3.7% in Hong Kong. Commodities-related shares fell further, with steel , coal and materials down 2.8% to 3.3%.
AU Financial Review
16 hours ago
- Business
- AU Financial Review
Alex Waislitz's fiancee sweats on sister's ‘Gaslit' book
Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal
Yahoo
17 hours ago
- Business
- Yahoo
Altria (MO) Extends $3B Credit Line Amid Strong Dividend History
Altria Group, Inc. (NYSE:MO) is one of the defensive stocks that billionaires are buying amid US trade tariff uncertainty. On July 23, Altria Group announced an extension of its $3.0 billion five-year revolving credit agreement, shifting the expiration date from October 2028 to October 2029. The deal, originally signed in October 2023, involves JPMorgan Chase and Citibank as administrative agents. All other terms remain unchanged. Altria continues to maintain a strong financial position, offering a robust 6.83% dividend yield and making payouts for 55 consecutive years. The involved lenders already provide Altria with financial services, including investment banking, trust operations, and cash management. Altria Group, Inc. (NYSE:MO) is a leading American tobacco company known for producing and marketing cigarettes and related products worldwide, while also expanding into innovative nicotine alternatives like electronic vaping devices and oral nicotine pouches as part of its strategy to diversify its portfolio and adapt to shifting consumer preferences. While we acknowledge the potential of MO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Best 52-Week High Stocks to Buy Now and 10 Best Biotech Stocks to Buy According to Billionaire Steve Cohen. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
ZTO Express Announces Repurchase Right Notification for 1.50% Convertible Senior Notes due 2027
SHANGHAI, July 30, 2025 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO and HKEX: 2057), a leading and fast-growing express delivery company in China ("ZTO" or the "Company"), today announced that it is notifying holders of its 1.50% Convertible Senior Notes due 2027 (CUSIP No. 98980AAB1) (the "Notes") that pursuant to the Indenture dated as of August 29, 2022 (the "Indenture") relating to the Notes by and between the Company and Citibank, N.A., as trustee, each holder has the right, at the option of such holder, to require the Company to repurchase all of such holder's Notes or any portion thereof that is an integral multiple of US$1,000 principal amount for cash on September 2, 2025 (the "Repurchase Right"). The Repurchase Right expires at 5:00 p.m., New York City time, on Thursday, August 28, 2025. As required by rules of the United States Securities and Exchange Commission (the "SEC"), the Company will file a Tender Offer Statement on Schedule TO which includes documents specifying the terms, conditions and procedures for exercising the Repurchase Right. None of the Company, its board of directors or its employees has made or is making any representation or recommendation to any holder as to whether to exercise or refrain from exercising the Repurchase Right. The Repurchase Right entitles each holder of the Notes to require the Company to repurchase all of such holder's Notes or any portion thereof that is an integral multiple of US$1,000 principal amount. The repurchase price for such Notes will be equal to 100% of the principal amount of the Notes to be repurchased, plus any accrued and unpaid additional interest, if any, to, but excluding, September 2, 2025, which is the date specified for repurchase in the Indenture (the "Repurchase Date"), subject to the terms and conditions of the Indenture and the Notes. Pursuant to the terms of the Indenture and the Notes, the next interest payment date for the Notes is September 1, 2025. As September 1, 2025 is a federal holiday, pursuant to the Indenture and the Notes, on Tuesday, September 2, 2025, which is the next succeeding business day, the Company will pay accrued and unpaid interest on all of the Notes through August 31, 2025 to all holders who were holders of record as of close of business on Friday, August 15, 2025. As of July 29, 2025, there was US$1,000,000,000.00 in aggregate principal amount of the Notes outstanding. If all outstanding Notes are surrendered for repurchase through exercise of the Repurchase Right, the aggregate cash purchase price will be US$1,000,000,000.00. The opportunity for holders of the Notes to exercise the Repurchase Right commences at 9:00 a.m., New York City time today, July 30, 2025, and will terminate at 5:00 p.m., New York City time, on Thursday, August 28, 2025. In order to exercise the Repurchase Right, a holder must follow the transmittal procedures set forth in the Company's Repurchase Right Notice to holders (the "Repurchase Right Notice"), which is available through the Depository Trust Company. Holders may withdraw any previously tendered Notes pursuant to the terms of the Repurchase Right at any time prior to 5:00 p.m., New York City time, on Thursday, August 28, 2025, or as otherwise provided by applicable law. This press release is for information only and is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell the Notes or any other securities of the Company. The offer to purchase the Notes will be only pursuant to, and the Notes may be tendered only in accordance with, the Company's Repurchase Right Notice dated July 30, 2025 and related documents. Holders of the Notes should refer to the Indenture for a complete description of repurchase procedures and direct any questions concerning the mechanics of repurchase to the Trustee by contacting Citibank, N.A. at citinygats@ or HOLDERS OF NOTES AND OTHER INTERESTED PARTIES ARE URGED TO READ THE COMPANY'S SCHEDULE TO, REPURCHASE RIGHT NOTICE AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ZTO EXPRESS (CAYMAN) INC. AND THE REPURCHASE RIGHT. Materials filed with the SEC will be available electronically without charge at the SEC's website, Documents filed with the SEC may also be obtained without charge at the Company's website, About ZTO Express (Cayman) Inc. ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057) ("ZTO" or the "Company") is a leading and fast-growing express delivery company in China. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network coverage in China. ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in China. The Company leverages its network partners to provide pickup and last-mile delivery services, while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain. For more information, please visit: For investor and media inquiries, please contact: ZTO Express (Cayman) Inc. Investor RelationsE-mail: ir@ +86 21 5980 4508 View original content: SOURCE ZTO Express (Cayman) Inc. Sign in to access your portfolio
