Latest news with #SeniorNotes
Yahoo
2 hours ago
- Business
- Yahoo
Global Partners LP Announces Private Offering of Senior Notes
WALTHAM, Mass., June 10, 2025--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) ("Global") today announced that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $400 million in aggregate principal amount of senior unsecured notes due 2033 (the "Senior Notes"). The Senior Notes will be co-issued by GLP Finance Corp. and guaranteed by certain other subsidiaries of Global. Global intends to use the net proceeds from the offering of the Senior Notes, together with cash on hand, if necessary, to fund the purchase of its outstanding $400 million aggregate principal amount of 7.00% senior notes due 2027 (the "2027 Notes") in a cash tender offer (the "Tender Offer"). The Tender Offer is being made pursuant to an Offer to Purchase and Notice of Guaranteed Delivery, each dated June 10, 2025. To the extent the Tender Offer is not completed or is completed but Global purchases less than all of the 2027 Notes in the Tender Offer, Global intends to use any remaining net proceeds from the offering of the Senior Notes to redeem any 2027 Notes that remain outstanding on or about August 1, 2025. The Senior Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance upon Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and non-U.S. persons in transactions outside the United States in reliance upon Regulation S under the Securities Act. The Senior Notes have not been and will not be registered under the Securities Act or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes, nor shall there be any sale of the Senior Notes in any state in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. This announcement shall not constitute an offer to purchase, or the solicitation of an offer to sell, the 2027 Notes, nor shall it constitute a notice of redemption with respect to the 2027 Notes. About Global Partners LP Building on a legacy that began more than 90 years ago, Global Partners has evolved into a Fortune 500 company and industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. Global operates or maintains dedicated storage at 54 liquid energy terminals—with connectivity to strategic rail, pipeline, and marine assets—spanning from Maine to Florida and into the U.S. Gulf States. Through this extensive network, the company distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers. In addition, Global owns, operates and/or supplies approximately 1,700 retail locations across the Northeast states, the Mid-Atlantic, and Texas, providing the fuels people need to keep them on the go at their unique guest-focused convenience destinations. Recognized as one of Fortune's Most Admired Companies, Global Partners is embracing progress and diversifying to meet the needs of the energy transition. Forward-Looking Statements Certain statements and information in this press release may constitute "forward-looking statements," including statements regarding the expected terms of the offering of the Senior Notes and the Tender Offer and the intended use of proceeds from the offering of the Senior Notes. The words "believe," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global's current expectations and beliefs concerning future developments and their potential effect on Global. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Global will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond Global's control) and assumptions that could cause actual results to differ materially from Global's historical experience and present expectations or projections. We believe these assumptions are reasonable given currently available information. The assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, which are described in our filings with the Securities and Exchange Commission (the "SEC"). For additional information regarding known material factors that could cause actual results to differ from Global's projected results, please see Global's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise. View source version on Contacts Gregory B. HansonChief Financial OfficerGlobal Partners LP(781) 894-8800 Sean T. GearyChief Legal Officer and SecretaryGlobal Partners LP(781) 894-8800 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
Business Wire
2 hours ago
- Business
- Business Wire
Global Partners LP Announces Private Offering of Senior Notes
WALTHAM, Mass.--(BUSINESS WIRE)--Global Partners LP (NYSE: GLP) ('Global') today announced that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $400 million in aggregate principal amount of senior unsecured notes due 2033 (the 'Senior Notes'). The Senior Notes will be co-issued by GLP Finance Corp. and guaranteed by certain other subsidiaries of Global. Global intends to use the net proceeds from the offering of the Senior Notes, together with cash on hand, if necessary, to fund the purchase of its outstanding $400 million aggregate principal amount of 7.00% senior notes due 2027 (the '2027 Notes') in a cash tender offer (the 'Tender Offer'). The Tender Offer is being made pursuant to an Offer to Purchase and Notice of Guaranteed Delivery, each dated June 10, 2025. To the extent the Tender Offer is not completed or is completed but Global purchases less than all of the 2027 Notes in the Tender Offer, Global intends to use any remaining net proceeds from the offering of the Senior Notes to redeem any 2027 Notes that remain outstanding on or about August 1, 2025. The Senior Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance upon Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and non-U.S. persons in transactions outside the United States in reliance upon Regulation S under the Securities Act. The Senior Notes have not been and will not be registered under the Securities Act or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes, nor shall there be any sale of the Senior Notes in any state in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. This announcement shall not constitute an offer to purchase, or the solicitation of an offer to sell, the 2027 Notes, nor shall it constitute a notice of redemption with respect to the 2027 Notes. About Global Partners LP Building on a legacy that began more than 90 years ago, Global Partners has evolved into a Fortune 500 company and industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. Global operates or maintains dedicated storage at 54 liquid energy terminals—with connectivity to strategic rail, pipeline, and marine assets—spanning from Maine to Florida and into the U.S. Gulf States. Through this extensive network, the company distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers. In addition, Global owns, operates and/or supplies approximately 1,700 retail locations across the Northeast states, the Mid-Atlantic, and Texas, providing the fuels people need to keep them on the go at their unique guest-focused convenience destinations. Recognized as one of Fortune's Most Admired Companies, Global Partners is embracing progress and diversifying to meet the needs of the energy transition. Forward-Looking Statements Certain statements and information in this press release may constitute 'forward-looking statements,' including statements regarding the expected terms of the offering of the Senior Notes and the Tender Offer and the intended use of proceeds from the offering of the Senior Notes. The words 'believe,' 'expect,' 'anticipate,' 'plan,' 'intend,' 'foresee,' 'should,' 'would,' 'could' or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Global's current expectations and beliefs concerning future developments and their potential effect on Global. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Global will be those that it anticipates. Forward-looking statements involve significant risks and uncertainties (some of which are beyond Global's control) and assumptions that could cause actual results to differ materially from Global's historical experience and present expectations or projections. We believe these assumptions are reasonable given currently available information. The assumptions and future performance are subject to a wide range of business risks, uncertainties and factors, which are described in our filings with the Securities and Exchange Commission (the 'SEC'). For additional information regarding known material factors that could cause actual results to differ from Global's projected results, please see Global's filings with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Global undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Business Wire
3 hours ago
- Business
- Business Wire
Rubrik, Inc. Announces Proposed Convertible Senior Notes Offering
PALO ALTO, Calif.--(BUSINESS WIRE)--Rubrik, Inc. ('Rubrik') (NYSE: RBRK), today announced its intent to offer, subject to market conditions and other factors, $1.0 billion aggregate principal amount of Convertible Senior Notes due 2030 (the 'Notes') in a private placement (the 'Offering') to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). Rubrik also intends to grant the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $150.0 million aggregate principal amount of Notes. The Notes will be general unsecured obligations of Rubrik, will accrue interest payable semiannually in arrears and will mature on June 15, 2030, unless earlier converted, redeemed or repurchased. Upon conversion, Rubrik will pay or deliver, as the case may be, cash, shares of Rubrik's Class A common stock, par value $0.000025 per share ('Class A common stock') or a combination of cash and shares of Class A common stock, at its election. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Offering. Rubrik expects to use the net proceeds from the Offering to pay the cost of the capped call transactions described below, to repay in full the $327.9 million principal amount of outstanding loans under and terminate its credit agreement, and for general corporate purposes, which may include acquisitions or strategic investments in complementary businesses or technologies, working capital, operating expenses and capital expenditures. If the initial purchasers exercise their option to purchase additional Notes, Rubrik expects to use a portion of the net proceeds from the sale of the additional Notes to enter into additional capped call transactions as described below and the remainder for general corporate purposes as described above. In connection with the pricing of the Notes, Rubrik expects to enter into capped call transactions with one or more of the initial purchasers or affiliates thereof and/or other financial institutions (the 'Option Counterparties'). The capped call transactions will cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to the Class A common stock upon any conversion of Notes and/or offset any cash payments Rubrik is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. In connection with establishing their initial hedges of the capped call transactions, Rubrik expects the Option Counterparties or their respective affiliates will enter into various derivative transactions with respect to the Class A common stock and/or purchase shares of Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of the Class A common stock or the Notes at that time. In addition, the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the Class A common stock and/or purchasing or selling shares of Class A common stock or other securities of Rubrik in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so following any conversion, repurchase upon a fundamental change or redemption of the Notes, or, to the extent Rubrik exercises the relevant election under the capped call transactions, following any other repurchase of the Notes). This activity could also cause or avoid an increase or a decrease in the market price of the Class A common stock or the Notes, which could affect a noteholder's ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, it could affect the number of shares, if any, and value of the consideration that a noteholder will receive upon conversion of its Notes. The Notes and shares of Class A common stock issuable upon conversion of the Notes, if any, have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding, among other things, the proposed Offering, including statements concerning the proposed and the anticipated terms, completion, timing and size of the proposed Offering of the Notes, the capped call transactions, the anticipated use of proceeds from the Offering, and the potential impact of the foregoing or related transactions on dilution to holders of the Class A common stock and the market price of the Class A common stock or the Notes or the conversion price of the Notes. These forward-looking statements are based on Rubrik's current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Rubrik's actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These risks include, but are not limited to market risks, trends and conditions. These and other risks are more fully described in Rubrik's filings with the Securities and Exchange Commission ('SEC'), including in the section entitled 'Risk Factors' in its Annual Report on Form 10-K for the fiscal year ended January 31, 2025, filed with the SEC on March 20, 2025, in its Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2025, filed with the SEC on June 9, 2025, as well as other filings Rubrik may make with the SEC in the future. Rubrik undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Yahoo
29-05-2025
- Business
- Yahoo
Bombardier Announces Closing of its New Issuance of Senior Notes due 2033
MONTRÉAL, May 29, 2025 (GLOBE NEWSWIRE) -- Bombardier Inc. ('Bombardier') today announced that it has successfully closed its previously announced offering of US$500 million aggregate principal amount of Senior Notes due 2033 (the 'New Notes'). The New Notes carry a coupon of 6.750% per annum, mature on June 15, 2033 and were sold at par. Bombardier intends to use the proceeds of the offering of the New Notes, together with cash on hand, (i) to fund the repayment and/or retirement of outstanding indebtedness, including the redemption of US$500 million aggregate principal amount of its outstanding 7.875% Senior Notes due 2027 (the '2027 Notes'), and (ii) to pay accrued interest and related fees and expenses. As of the date hereof, prior to giving effect to this redemption, there is US$683,142,000 aggregate principal amount outstanding of the 2027 Notes. The redemption is expected to be completed on June 13, 2025, in accordance with the notice of partial redemption that Bombardier issued on May 14, 2025. This press release does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any security and shall not constitute an offer, solicitation, sale or purchase of any securities in any jurisdiction in which such offering, solicitation, sale or purchase would be unlawful. The New Notes mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended, any state securities laws or the laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The New Notes mentioned herein were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act and outside the United States in reliance on Regulation S under the U.S. Securities Act. The New Notes mentioned herein have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada was made on a basis which is exempt from the prospectus requirements of such securities laws. The New Notes were offered and sold in Canada on a private placement basis only to 'accredited investors' pursuant to certain prospectus exemptions. Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements For information Francis Richer de La FlècheVice President, Financial Planning and Investor Relations Bombardier +1 514 240 9649 Mark MasluchSenior Director, Communications Bombardier +1 514 855 7167Sign in to access your portfolio
Business Wire
29-05-2025
- Business
- Business Wire
Enpro Inc. Completes Offering of $450 Million 6.125% Senior Notes Due 2033
CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) ('Enpro') today announced that it has completed the previously announced offering of $450 million 6.125% Senior Notes due 2033 (the 'Senior Notes'). The offer was made in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. A portion of the net proceeds of the offering of the Senior Notes have been deposited with the trustee for Enpro's outstanding 5.75% Senior Notes due 2026 (the '5.75% Notes') to fully fund the redemption of all of the outstanding 5.75% Notes. The conditional redemption of the 5.75% Notes was announced by Enpro on May 13, 2025, with a redemption date of June 12, 2025, and all of the conditions to such redemption have been satisfied. The Senior Notes are unsecured, unsubordinated obligations of Enpro and mature on June 1, 2033. Interest on the Senior Notes accrues at a rate of 6.125% per annum and is payable semi-annually in cash in arrears on June 1 and December 1 of each year, commencing December 1, 2025. The Senior Notes are guaranteed on a senior unsecured basis by Enpro's direct and indirect domestic subsidiaries that are borrowers under, or guarantee, its senior secured revolving credit facility. Each holder of the Senior Notes may require Enpro to repurchase some or all of the Senior Notes for cash upon the occurrence of a defined 'change of control' event, at a price equal to 101% of the principal amount of the Senior Notes being repurchased, plus accrued and unpaid interest. Enpro's ability to redeem the Senior Notes prior to maturity is subject to certain conditions, including in certain cases the payment of make-whole amounts. The indenture governing the Senior Notes includes covenants that restrict Enpro's ability to engage in certain activities, including incurring liens on assets, engaging in certain asset sales, including sale and leaseback transactions, and merging consolidating or transferring or disposing of all or substantially all assets, subject to specified exceptions and qualifications set forth in the indenture. This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes. Any offers of the Senior Notes were made only by means of a private offering memorandum. The Senior Notes have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release also does not constitute a notice of redemption of, or an offer to purchase or a solicitation of an offer to purchase, the 5.75% Notes. The formal notice of redemption has been provided in accordance with the terms of the indenture governing the 5.75% Notes. Forward-Looking Statements This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of 'Risk Factors' listed from time to time in Enpro's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the period ended March 31, 2025.
