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Yahoo
16-05-2025
- Business
- Yahoo
Énergir Announces a Private Placement of $300 Million Series 2025-1 First Mortgage Bonds
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Énergir Inc. and Énergir, L.P. announce today a private placement by Énergir, L.P. of $300 million aggregate principal amount of Series 2025-1 First Mortgage Bonds (the 'Series 2025-1 Bonds'). The Series 2025-1 Bonds will be secured by a hypothec on the assets of Énergir, L.P. The Series 2025-1 Bonds, bearing interest at the rate of 4.65% per annum, are expected to be dated May 20, 2025 and to mature on May 20, 2055 and would be issued at a price of $998.87 per $1,000 principal amount. The Series 2025-1 Bonds have been assigned a provisional rating of A by Standard & Poor's and a provisional rating of A by DBRS Limited. Closing of the offering of the Series 2025-1 Bonds is expected to occur on May 20, 2025, subject to customary closing conditions. Énergir, L.P. intends to use the proceeds to repay existing indebtedness and for general corporate purposes. The Series 2025-1 Bonds are offered on an agency basis through a syndicate of dealers led by BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, together with CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc. and Casgrain & Company Limited, as agents. The Series 2025-1 Bonds have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer or sale of the Series 2025-1 Bonds in Canada is being made on a basis which is exempt from the prospectus requirements of such securities laws. The Series 2025-1 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Series 2025-1 Bonds in the United States. About Énergir Inc. and Énergir, L.P. Énergir Inc. mainly holds a 71% interest in Énergir, L.P., for which it acts as the General Partner. With more than $11 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec, where, through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future. Forward-Looking Statements This news release contains forward-looking statements, including, but not limited to, statements relating to the expected timing completion and use of proceeds of the proposed sale of Series 2025-1 Bonds and other statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and, Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Forward-looking statements are provided herein for the purpose of giving information about the proposed private placement referred to above. Readers are cautioned that such information may not be appropriate for other purposes. The timing and completion of the abovementioned proposed sale of the Series 2025-1 Bonds is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the Series 2025-1 Bonds will occur, or that it will occur at the expected time indicated in this news release. For more information:MediaCatherine HoudeÉnergir, L.P.1-866-598-3449communications@ Investor RelationsGabrielle RicardÉnergir, 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
16-05-2025
- Business
- Yahoo
Énergir Announces a Private Placement of $300 Million Series 2025-1 First Mortgage Bonds
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Énergir Inc. and Énergir, L.P. announce today a private placement by Énergir, L.P. of $300 million aggregate principal amount of Series 2025-1 First Mortgage Bonds (the 'Series 2025-1 Bonds'). The Series 2025-1 Bonds will be secured by a hypothec on the assets of Énergir, L.P. The Series 2025-1 Bonds, bearing interest at the rate of 4.65% per annum, are expected to be dated May 20, 2025 and to mature on May 20, 2055 and would be issued at a price of $998.87 per $1,000 principal amount. The Series 2025-1 Bonds have been assigned a provisional rating of A by Standard & Poor's and a provisional rating of A by DBRS Limited. Closing of the offering of the Series 2025-1 Bonds is expected to occur on May 20, 2025, subject to customary closing conditions. Énergir, L.P. intends to use the proceeds to repay existing indebtedness and for general corporate purposes. The Series 2025-1 Bonds are offered on an agency basis through a syndicate of dealers led by BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, together with CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc. and Casgrain & Company Limited, as agents. The Series 2025-1 Bonds have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer or sale of the Series 2025-1 Bonds in Canada is being made on a basis which is exempt from the prospectus requirements of such securities laws. The Series 2025-1 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Series 2025-1 Bonds in the United States. About Énergir Inc. and Énergir, L.P. Énergir Inc. mainly holds a 71% interest in Énergir, L.P., for which it acts as the General Partner. With more than $11 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec, where, through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future. Forward-Looking Statements This news release contains forward-looking statements, including, but not limited to, statements relating to the expected timing completion and use of proceeds of the proposed sale of Series 2025-1 Bonds and other statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and, Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Forward-looking statements are provided herein for the purpose of giving information about the proposed private placement referred to above. Readers are cautioned that such information may not be appropriate for other purposes. The timing and completion of the abovementioned proposed sale of the Series 2025-1 Bonds is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the Series 2025-1 Bonds will occur, or that it will occur at the expected time indicated in this news release. For more information:MediaCatherine HoudeÉnergir, L.P.1-866-598-3449communications@ Investor RelationsGabrielle RicardÉnergir, Sign in to access your portfolio
Business Upturn
24-04-2025
- Business
- Business Upturn
Dorchester Minerals, L.P. Announces Its First Quarter Distribution
DALLAS, April 24, 2025 (GLOBE NEWSWIRE) — Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership's first quarter 2025 cash distribution. The distribution of $0.725835 per common unit represents activity for the three-month period ended March 31, 2025 and is payable on May 15, 2025 to common unitholders of record as of May 5, 2025. Cash receipts attributable to the Partnership's Royalty Properties during the first quarter totaled approximately $34.2 million. Approximately 68% of these receipts reflect oil sales during December 2024 through February 2025 and natural gas sales during November 2024 through January 2025, and approximately 32% from prior sales periods. Cash Receipts attributable to the Partnership's Net Profits Interest during the first quarter totaled approximately $4.8 million. Approximately 74% of these receipts reflect oil sales and natural gas sales during November 2024 through January 2025, and approximately 26% from prior sales periods. Cash receipts attributable to lease bonus and other income during the first quarter totaled approximately $0.6 million. Dorchester Minerals, L.P. is a Dallas-based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests located in 28 states. Its common units trade on the Nasdaq Global Select Market under the symbol DMLP. This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Although a portion of Dorchester Minerals, L.P.'s income may not be effectively connected income and may be subject to alternative withholding procedures, brokers and nominees should treat 100% of Dorchester Minerals, L.P.'s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Dorchester Minerals, L.P.'s distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate for individuals or corporations, as applicable. Nominees, and not Dorchester Minerals, L.P., are treated as withholding agents responsible for withholding on distributions received by them on behalf of non-U.S. investors. FORWARD-LOOKING STATEMENTS Portions of this document may constitute 'forward-looking statements' as defined by federal law. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Examples of such uncertainties and risk factors include, but are not limited to, changes in the price or demand for oil and natural gas, changes in the operations on or development of the Partnership's properties, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements) and the Partnership's financial position, business strategy and other plans and objectives for future operations. These and other factors are set forth in the Partnership's filings with the Securities and Exchange Commission. Contact: Martye Miller 3838 Oak Lawn Ave., Suite 300 Dallas, Texas 75219-4541 (214) 559-0300
Yahoo
23-04-2025
- Business
- Yahoo
Jim Cramer Is Still Positive on Plains All American (PAA): 'A Terrific Stock — I Wish We Had it for the Charitable Trust.'
We recently published a list of . In this article, we are going to take a look at where Pipeline, L.P. (NASDAQ:PAA) stands against other stocks on Jim Cramer's radar. On Monday, Mad Money host Jim Cramer drew a parallel to 2011 and argued that what we are seeing is another crisis that feels manufactured, one he believes could be resolved just as easily as it was created, 'with the stroke of a pen,' as he described it. 'Could this be another earnings season that simply doesn't matter because there are bigger forces at work that are going to crush the entire market? It's happened before, back in 2011.' READ ALSO Jim Cramer's Thoughts on These 5 Stocks and Jim Cramer's Game Plan for Next Week: 25 Stocks in Focus Cramer pointed out that the market has opened lower nearly every day, not because of disappointing earnings, those, he said, have largely held up, except in the case of companies with significant exposure to China, which he described as now being a liability for American businesses. He emphasized that the situation is not being driven by corporate fundamentals but by factors outside of earnings. He added: 'At least this time, the problem's about America itself. As the president begins to create a constitutional crisis over the potential firing of Jay Powell while Congress once again deals with the interminable debt crisis, I think we can expect another ratings agency to begin the discussion of a debt downgrade.' According to Cramer, investors should begin to accept the reality of a market that drops every morning, regardless of how strong earnings might be. The dominant forces in the environment, he insisted, are not balance sheets or profit margins. He remarked that the current period will be shaped by discussions around tariffs and the ongoing threats to remove Jerome Powell from his position. He added: 'Unfortunately, this time, the United States is not a safe haven as other countries appear much more stable and our bonds act squirrelly, almost as if they're anticipating another painful debt downgrade. Ironic. We could get much higher yields because a president wants them to be lower in the worst way. The worst way being to poke fun, to ride, chide, and make life hell for a man who has served our country well, and I think deserves better.' For this article, we compiled a list of 9 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 21. We listed the stocks in ascending order of their hedge fund sentiment as of the fourth quarter of 2024, which was taken from Insider Monkey's database of over 1,000 hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Aerial view of a pipeline transporting crude oil over a desert landscape. Number of Hedge Fund Holders: 9 A caller inquired if Cramer was still feeling positive about Plains All American Pipeline, L.P. (NASDAQ:PAA). In response, Cramer stated: 'You know, [to] my understanding, Plains PAA is doing quite well. I mean, it's a very tough moment for this group. There's a lot of sellers in it, but I understand that Plains is okay. I mean, I don't know, I'm going to redouble my efforts because it is a little higher yield than it should be.' Plains All American Pipeline (NASDAQ:PAA) focuses on the transportation, storage, gathering, and Terminaling of crude oil and natural gas liquids. The company is also involved in processing and handling various products derived from natural gas and crude oil refining. It is worth noting that when Cramer was asked about the company in March, he said: 'Listen, sunshine, that's a terrific stock with a 78% yield. Not only am I a buyer, but I wish we had it for the Charitable Trust.' Overall, PAA ranks 9th on our list of stocks on Jim Cramer's radar. While we acknowledge the potential of PAA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PAA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
03-04-2025
- Business
- Yahoo
Billionaire Michael Bloomberg sends hard-nosed message on economy
The U.S. economy could be at a critical point. For years, the U.S. government has embraced breakneck spending, causing larger deficits and soaring debt levels that may require trillions of dollars in interest payments over the coming decades. The economic situation could have a dire impact if it means the government is forced to restructure its debt, something billionaire Ray Dalio has previously risk of a potential economic reckoning isn't lost on those who have seen a thing or two over decades of analyzing markets, including Michael Bloomberg, the billionaire founder of the Bloomberg terminals commonly found on the desks of most major hedge funds, mutual funds, and trading operations. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Bloomberg recently weighed in on the economic challenges, delivering a blunt assessment that every investor should consider. The Federal Reserve has put itself in a corner. In 2021, Fed Chairman Jerome Powell tried to argue that inflation was transitory, only to backtrack shortly afterward as the Fed embarked on the most restrictive and hawkish monetary policy since Fed Chair Paul Volcker battled inflation in the early war on inflation worked, but it came at a cost. While inflation has retreated below 3% from over 8% in 2022, higher interest rates' impact on economic growth has led to unemployment climbing to 4.1% from 3.5% as recently as 2023. The upturn in joblessness prompted the Fed to lower its benchmark Fed Funds Rate in the fourth quarter of 2024. However, we've yet to see any improvement in the jobs market, and the rate cuts appear to have re-sparked inflation, given the Consumer Price Index showed inflation at 2.8% in February, up from 2.4% in September. Worse, sticky inflation and job loss are coming alongside a deceleration in economic growth. The Atlanta Fed's GDPNow forecasts a first-quarter GDP of negative 3.7%. While that's likely to improve as more data becomes available, it appears very likely that the first-quarter GDP will be far shy of the 3.1% pace during the second and third quarters last year. Given consumer confidence levels, matters could get worse. The Conference Board's Consumer Expectations Index is 65, far south of the 80 level that has signaled recessions in the past. The short-term outlook for the economy is tenuous. However, the long-term outlook could be downright Bloomberg has been navigating the markets for a long time. His career stretches back to the late 1960s at Salomon Brothers, and he founded Bloomberg, L.P. in 1981. Since then, Bloomberg, L.P. has grown into one of the biggest and most influential market data companies on the planet, turning him into one of the world's richest people. Bloomberg thinks America's future could be at a critical juncture, and he's not mincing words. 'The US is on course for fiscal breakdown,' wrote Bloomberg in a recent article for his news outlet. 'Unless Congress changes course, there'll be a reckoning, and it will be grim.' Bloomberg's big concern: a mountainous – and growing - pile of debt. 'Deficit spending is more out of control than ever,' said Bloomberg. 'Investors' appetite for US government debt isn't limitless.' The U.S. government spends about $7 trillion annually but only collects about $5 trillion in taxes. As a result, the deficit exceeds 6% of the gross domestic product, or GDP. More experts: Treasury Secretary has blunt 3-word response to stock market drop Fed chairman has blunt 9-word response to recession talk Billionaire Ray Dalio's blunt message on economy turns heads If spending continues unabated, public debt will total 100% of GDP this year and could climb to 118% by 2035. 'A responsible Congress would make deficit reduction its overriding priority,' said Bloomberg. 'Higher tariff revenues won't come close to balancing the books.' President Trump's administration has proposed extending tax cuts from his 2017 Tax Cuts and Jobs Act, which is set to expire this year. Bloomberg says doing so could cost $5 trillion over the next decade. While Bloomberg favors keeping aspects of the law, including the larger standard income-tax deduction, he suggests other parts of the law are too costly. 'Congress has already delayed too long, but the cost of delaying further — and worse, compounding the problem with additional deficit spending — will have devastating economic consequences,' said in to access your portfolio
