Latest news with #seniornotes
Yahoo
2 days ago
- Business
- Yahoo
Truist announces redemption of senior notes due July 2026
CHARLOTTE, N.C., July 17, 2025 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it will redeem all $1,500,000,000 principal amount outstanding of its floating rate senior notes due July 28, 2026 (CUSIP 89788MAH5) on the redemption date of July 28, 2025. The redemption price for the senior notes will be equal to 100% of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the senior notes will cease to accrue on and after the redemption date. Payment of the redemption price for the senior notes will be made through the facilities of The Depository Trust Company. About TruistTruist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading U.S. commercial bank, Truist has leading market share in many of the high-growth markets across the country. Truist offers a wide range of products and services through our wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $536 billion as of March 31, 2025. Truist Bank, Member FDIC. Learn more at View original content: SOURCE Truist Financial Corporation
Yahoo
3 days ago
- Business
- Yahoo
Compass Minerals Engages in Major Debt Refinancing Following Insider Support
Compass Minerals International, Inc. (NYSE:CMP) is one of the . The company's price target was raised following the completion of $650 million senior notes offering. A close up of an essential mineral being extracted from a large rock wall. Headquartered in Kansas, Compass Minerals International, Inc. (NYSE:CMP) is a leading producer of essential minerals. Focusing on rock salt, sulfate of potash, and magnesium chloride, among others, the company serves deicing, agricultural, industrial, culinary, and consumer markets across North America and the U.K. On June 3, 2025, Compass Minerals International, Inc. (NYSE:CMP) announced the pricing of a $650 million senior notes offering. Due in 2030, the notes carry an interest rate. And the proceeds from the notes are anticipated to be used for repaying debt while redeeming $350 million of senior notes due 2027. The offering was closed on June 16, 2025. Following these developments, Deutsche Bank reiterated a Buy rating on the stock, while raising the price target from $14 to $22, signaling a high confidence in the company's progress. From the insider's perspective as well, notable confidence is established on the stock, with Director Joseph Reece's purchase of 5000 shares on March 27, 2025, boosting the insider ownership by 0.05% in the last six months. While we acknowledge the potential of CMP 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: and 12 Best MLP Dividend Stocks to Buy According to Analysts Disclosure. None.
Yahoo
4 days ago
- Business
- Yahoo
Macy's Inc. Refinances and Eases Debt Load
Macy's Inc. is refinancing to ease its debt obligations. On Monday, Macy's said that a subsidiary would offer $500 million worth of unsecured senior notes due 2033, in a private offering. More from WWD Macy's Fourth of July Fireworks Shifts Back to the East River Macy's Inc. Reports Q1 Declines but Came Out Ahead of Guidance Assessing Modern Luxury With Bluemercury's Maly Bernstein The proceeds from the offering, as well as cash on hand, will be used to repay approximately $587 million in senior notes that are maturing while also covering a $175 million tender offer for other debt. Fitch Ratings assigned a BBB- rating to Macy's proposed $500 million of unsecured notes. According to Fitch, 'BBB ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity.' Fitch said the rating reflects Macy's 'industry leadership, good cash flow and reasonable balance sheet management, enabling it to navigate the challenging department store industry and maintain market share.' The agency also cited the need for the retailer to continue repositioning its portfolio, which includes closing about 150 department stores from 2024 to 2026, many of which have already been closed. Fitch does see Macy's and other retailers selling discretionaries experiencing near-term operational challenges due to softening consumer sentiment and the evolving tariff policy. Longer term, the Fitch ratings assumes Macy's can generate annual earnings before interest, taxes, depreciation and amortization of around $1.7 billion to $1.8 billion. 'With $23 billion in 2024 total revenue, Macy's is the clear leader in the U.S. department store space,' Fitch indicated. 'The company's scale, physical and digital infrastructure, cash flow and relationships with vendors and customers are assets that, if used effectively, could allow Macy's to defend market share in a difficult space.…The company has recently demonstrated some success in managing operations and expenses, with Fitch forecasting EBITDA margins around the mid-8 percent range in the medium term, similar to 2019, despite around 10 percent revenue declines and the absorption of cost inflation.' As of the end of first quarter of 2025, Macy's had total debt of $2.8 billion and no material long-term debt maturities until 2027. Fitch said that near-term maturities are 'limited' and include $61 million in 2027 and $176 million due 2028. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
National Post
5 days ago
- Business
- National Post
AECOM announces US $1.0 billion senior unsecured notes offering
Article content DALLAS — AECOM (NYSE: ACM), the trusted global infrastructure leader, announced today that it has commenced a private offering of US $1.0 billion in aggregate principal amount of senior unsecured notes due 2033 (the 'senior notes'). The senior notes will be guaranteed by certain of AECOM's subsidiaries. Article content AECOM intends to use the net proceeds from the sale of the senior notes, together with cash on hand, to purchase its outstanding 5.125% Senior Notes due 2027 (the '2027 Notes') pursuant to AECOM's concurrent cash tender offer (the 'Tender Offer') for any and all of the outstanding 2027 Notes, and redeem any 2027 Notes not purchased in the Tender Offer and to pay related fees and expenses. Article content The senior notes and related guarantees will be issued in a private 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'), and to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. Article content Any offer of the senior notes and related guarantees will be made only by means of a private offering memorandum. The senior notes and related guarantees are not being 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. Article content About AECOM Article content AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients' complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2024. Article content Cautionary Note Regarding Forward-Looking Statements Article content All statements in this press release other than statements of historical fact are 'forward-looking statements' for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although AECOM believes that the expectations reflected in these forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of these forward-looking statements. Important factors that could cause AECOM's actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in these forward-looking statements include, but are not limited to, the following: risks related to the offering and Tender Offer; potential high leverage and inability to service AECOM's debt and guarantees; changes in capital markets and stock market volatility; as well as other additional risks and factors that could cause actual results to differ materially from these forward-looking statements set forth in AECOM's reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement. Article content Article content Article content Article content Media Contact: Article content Article content Brendan Ranson-Walsh Article content Article content 213-996-2367 Article content Article content Article content Investor Contact: Article content Article content Will Gabrielski Article content Article content Article content Article content
Yahoo
5 days ago
- Business
- Yahoo
Macy's, Inc. Announces Pricing of Senior Notes
NEW YORK, July 14, 2025--(BUSINESS WIRE)--Macy's, Inc. (NYSE: M) (the "Company") announced today that its wholly-owned subsidiary, Macy's Retail Holdings, LLC (the "Issuer"), priced an offering of $500 million in aggregate principal amount of 7.375% senior notes due 2033 (the "Notes") in a private offering at an offering price of 100% of the principal amount thereof. The Notes will have a maturity date of August 1, 2033. The closing of the offering of the Notes is expected to occur on July 29, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of the Issuer and will be unconditionally guaranteed on a senior unsecured basis by the Company. The Issuer intends to use the proceeds from the offering of the Notes, together with cash on hand, to (i) fund its separately announced concurrent tender offer (the "Tender Offer"), (ii) redeem approximately $587 million of certain of its existing outstanding senior notes and debentures (such redemption, the "Redemption") and (iii) pay fees, premium and expenses in connection therewith and this offering. The Redemption and the Tender Offer are conditioned on, among other things, the consummation of the offering of the Notes. The offering of the Notes, however, is not conditioned on the consummation of the Redemption or the Tender Offer (including the tender of any specified amount of the Company's outstanding senior notes as part of the Tender Offer). This press release does not constitute an offer to purchase, a solicitation of an offer to sell or a notice with respect to any tender offer or redemption of any existing notes. This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States in reliance on Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act or any applicable state securities laws. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About Macy's, Inc. Macy's, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy's, Bloomingdale's and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. Forward-Looking Statements All statements in this press release regarding the closing of the notes offering and the expected use of proceeds therefrom that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including, but not limited to, general market conditions which might affect the offering, and other factors identified in documents filed by the Company with the Securities and Exchange Commission, including under the captions "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended February 1, 2025 and the Company's Quarterly Report on Form 10-Q for the quarterly period ended May 3, 2025. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. View source version on Contacts Media – Chris Grams communications@ Investors – Pamela Quintiliano investors@ Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
