Exchangeable

Spectrum Brands Announces Pricing of Private Offering of $300 Million of New Exchangeable Senior Notes

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화요일, 5월 21, 2024

Home Goods, Online Retail, Other Retail, Retail, Specialty, News, SPB, Exercise, Exchangeable, Sale, Person, Common, Note, Observation, Security (finance)

Spectrum Brands Holdings, Inc. (NYSE: SPB; “Parent”), announced today that its wholly-owned subsidiary, Spectrum Brands, Inc. (“Spectrum Brands” or the “Company”) has priced its private offering of $300 million in aggregate principal amount of its 3.375% exchangeable senior notes due 2029 (the “Exchangeable Notes”) in a private placement (the “Offering”) to eligible purchasers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”).

Key Points:

Spectrum Brands Holdings, Inc. (NYSE: SPB; “Parent”), announced today that its wholly-owned subsidiary, Spectrum Brands, Inc. (“Spectrum Brands” or the “Company”) has priced its private offering of $300 million in aggregate principal amount of its 3.375% exchangeable senior notes due 2029 (the “Exchangeable Notes”) in a private placement (the “Offering”) to eligible purchasers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”).
In connection with the Offering, if the initial purchasers sell more Exchangeable Notes than the total principal amount of the Exchangeable Notes set forth above, the Company has granted the initial purchasers the option to purchase, for settlement within a 13-day period beginning on, and including, the date the Exchangeable Notes are first issued, up to an additional $50 million aggregate principal amount of Exchangeable Notes.
The Exchangeable Notes will mature on June 1, 2029, unless repurchased, redeemed or exchanged in accordance with their terms prior to such date.
The share repurchases could affect the market price of the Parent Common Stock concurrently with the pricing of the Exchangeable Notes, and could also result in a higher effective exchange price for the Exchangeable Notes.

Spectrum Brands Announces Proposed Offering of Exchangeable Notes & Share Repurchase Plan

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월요일, 5월 20, 2024

Home Goods, Online Retail, Other Retail, Retail, Specialty, Share repurchase, News, SPB, Exercise, Exchangeable, Sale, Person, Common, Note, Observation, Security (finance)

Spectrum Brands Holdings, Inc. (NYSE: SPB; “Parent”), announced today that its wholly-owned subsidiary, Spectrum Brands, Inc. (“Spectrum Brands” or the “Company”) intends to offer, subject to market and other conditions, $300 million in aggregate principal amount of exchangeable senior notes due 2029 (the “Exchangeable Notes”) and a share repurchase plan.

Key Points:

Spectrum Brands Holdings, Inc. (NYSE: SPB; “Parent”), announced today that its wholly-owned subsidiary, Spectrum Brands, Inc. (“Spectrum Brands” or the “Company”) intends to offer, subject to market and other conditions, $300 million in aggregate principal amount of exchangeable senior notes due 2029 (the “Exchangeable Notes”) and a share repurchase plan.
In connection with the Exchangeable Notes offering, if the initial purchasers sell more Exchangeable Notes than the total principal amount of the Exchangeable Notes set forth above, the Company expects to grant the initial purchasers the option to purchase, for settlement within a 13-day period beginning on, and including, the date the Exchangeable Notes are first issued, up to an additional $50 million aggregate principal amount of Exchangeable Notes.
In connection with the pricing of the Exchangeable Notes, the Parent expects to enter into share repurchases at a cash purchase price per share equal to the closing price per share of the Parent Common Stock on the pricing date of the Exchangeable Notes.
The share repurchases could affect the market price of the Parent Common Stock concurrently with the pricing of the Exchangeable Notes, and could also result in a higher effective exchange price for the Exchangeable Notes.

Sabre expands its accounts receivable securitization facility to $235 million and increases liquidity

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화요일, 4월 2, 2024

Exchangeable, Growth, PNC Financial Services, Sabre Corporation, PNC, Senior, SABR, Debt-to-GDP ratio, FILO, Bank

SOUTHLAKE, Texas, April 2, 2024 /PRNewswire/ -- Sabre Corporation (NASDAQ: SABR) ("Sabre" or the "Company"), a leading technology provider to the global travel industry, today announced that its indirect subsidiary, Sabre Securitization LLC, has increased the overall size of its existing accounts receivable securitization facility (the "AR Facility") from $200 million to $235 million and extended its maturity date to March 2027. The AR Facility now consists of a fully-funded $120 million "first-in, last-out" tranche (the "FILO Facility"), provided by various entities advised by affiliates of Centerbridge Partners, L.P. ("Centerbridge"), and a $115 million revolving tranche provided by the existing lender, PNC Bank N.A. ("PNC"). PNC will continue to act as the administrative agent.

Key Points:

SOUTHLAKE, Texas, April 2, 2024 /PRNewswire/ -- Sabre Corporation (NASDAQ: SABR) ("Sabre" or the "Company"), a leading technology provider to the global travel industry, today announced that its indirect subsidiary, Sabre Securitization LLC, has increased the overall size of its existing accounts receivable securitization facility (the "AR Facility") from $200 million to $235 million and extended its maturity date to March 2027.
The transactions described above, including the establishment of the FILO Facility, increased the drawn amount under the AR Facility from approximately $120 million immediately prior to the transactions to approximately $232 million immediately after the transactions.
As a result of execution of these transactions and closing of the FILO Facility and amended AR facility, Sabre has reduced its 2025 funded debt maturities by over $300 million and increased its liquidity by over $70 million.
Together with the 2023 transactions, Sabre has refinanced approximately $1,832 million, or almost 90%, of the debt that was previously maturing in 2025.

EQS-News: GlobalWafers GmbH successfully priced an offering of EUR345.2 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd

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수요일, 1월 17, 2024

Surety, Silicon, GWC, Unit, Application, Nomura, Warrant, Sale, GlobalWafers, Offering, EUR, Gesellschaft mit beschränkter Haftung, Exchangeable, Security (finance)

GlobalWafers GmbH successfully priced an offering of EUR345.2 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd

Key Points:

GlobalWafers GmbH successfully priced an offering of EUR345.2 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd
The issuer is solely responsible for the content of this announcement.
GlobalWafers GmbH successfully priced an offering of EUR345.2 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd
GlobalWafers GmbH (the "Issuer") announces the successful pricing of an offering (the “Offering”) of units (the "Exchangeable Units"), comprising (1) EUR345.2 million senior unsecured bonds due 2029 (the “Bonds”) and (2) 3,452 detachable warrants (the “Warrants”).
The Exchangeable Units, Bonds and Warrants will be guaranteed by GlobalWafers Co., Ltd. (“GWC” or “Guarantor”), the world’s third largest silicon wafer manufacturer, listed in Taiwan, and the sole shareholder of the Issuer.
The Exchangeable Units will be issued at 100% of the principal amounts of the Bonds.

EQS-News: GlobalWafers GmbH launches an offering of approximately EUR350 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd

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수요일, 1월 17, 2024

Surety, Silicon, GWC, Unit, Application, Nomura, Warrant, Sale, GlobalWafers, Offering, Gesellschaft mit beschränkter Haftung, Exchangeable, Security (finance)

GlobalWafers GmbH launches an offering of approximately EUR350 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd

Key Points:

GlobalWafers GmbH launches an offering of approximately EUR350 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd
The issuer is solely responsible for the content of this announcement.
GlobalWafers GmbH launches an offering of approximately EUR350 million Exchangeable Units guaranteed by GlobalWafers Co., Ltd
GlobalWafers GmbH (the "Issuer") announces the launch of an offering (the “Offering”) of units (the "Exchangeable Units"), comprising (1) approximately EUR350 million senior unsecured bonds due 2029 (the “Bonds”) and (2) approximately 3,500 detachable warrants (the “Warrants”).
The Exchangeable Units, Bonds and Warrants will be guaranteed by GlobalWafers Co., Ltd. (“GWC” or “Guarantor”), the world’s third largest silicon wafer manufacturer, listed in Taiwan, and the sole shareholder of the Issuer.
The Exchangeable Units will be issued at 100% of the principal amounts of the Bonds.

Arizona Sonoran and Nuton LLC Announce Option to Joint Venture on Cactus Project in Arizona

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목요일, 12월 14, 2023

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce today that it has entered into an option to joint venture agreement with Nuton LLC (“Nuton”), a wholly-owned subsidiary of Rio Tinto, to establish a strategic alliance for deployment of the Nuton technologies at its Cactus Mine and the Parks/Salyer Project (collectively, the “Cactus Project”), in Arizona, USA.

Key Points:

Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) is pleased to announce today that it has entered into an option to joint venture agreement with Nuton LLC (“Nuton”), a wholly-owned subsidiary of Rio Tinto, to establish a strategic alliance for deployment of the Nuton technologies at its Cactus Mine and the Parks/Salyer Project (collectively, the “Cactus Project”), in Arizona, USA.
Nuton has indicated the potential to significantly increase copper cathode output from our current 45-50 ktpa target which could materially enhance project economics.
In the event that Nuton exercises the Option, the parties will either form a Delaware limited liability company or deem Cactus to be the joint venture company for the Cactus Project (the “Joint Venture Corporation”).
Rothschild acted as financial advisor, and Torys LLP and Dorsey & Whitney LLP acted as legal advisors, to Nuton.

FEMSA announces an approximately EUR 3.3 billion offering of shares of Heineken N.V. and Heineken Holding N.V. and a Concurrent Tap issuance of up to EUR 250 million of FEMSA’s existing Exchangeable Bonds due 2026 exchangeable into shares of Heineken Hold

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화요일, 5월 30, 2023

MONTERREY, Mexico, May 30, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today an offering by the Company and its wholly-owned subsidiaries Compañía Internacional de Bebidas, S.A. de C.V. and Grupo Industrial Emprex, S. de R.L. de C.V. of existing issued ordinary shares of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) in the total amount of approximately EUR 3.3 billion (approximately 5.9% of the combined interest in the Heineken Group) (the “Equity Offering”). The Company also announces today a tap issuance of euro denominated senior unsecured bonds in the aggregate principal amount of up to EUR 250 million (the “New Bonds”), exchangeable into ordinary shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”). The New Bonds will be consolidated and form a single series with the Company’s EUR 500 million 2.625% senior unsecured Exchangeable Bonds due 2026, originally issued on 24 February 2023 (the “Original Bonds” and together with the New Bonds, the “Bonds”) with effect from on or about 18 July 2023 (the “Consolidation Date”).

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de C.V. of existing issued ordinary shares of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) in the total amount of approximately EUR 3.3 billion (approximately 5.9% of the combined interest in the Heineken Group) (the “Equity Offering”).
The Company also announces today a tap issuance of euro denominated senior unsecured bonds in the aggregate principal amount of up to EUR 250 million (the “New Bonds”), exchangeable into ordinary shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”).
The Offering has been approved by FEMSA’s board of directors and is conducted and announced in accordance with applicable law.
Investors will have the opportunity to acquire shares in the Equity Offering in Heineken N.V. and Heineken Holding N.V.

Trip.com Group Announces Repurchase Right Notification for 1.50% Exchangeable Senior Notes due 2027

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금요일, 5월 26, 2023

Exercise, Note, Exchangeable, FICC, Debt-to-GDP ratio, TCOM, Depository Trust Company, BNY Mellon, CMOC Group Limited, Bank, CUSIP, Security (finance), Indenture

The 2023 Repurchase Right entitles each holder of the Exchangeable Notes to require the Company to repurchase for cash on July 1, 2023 all of such holder's Exchangeable Notes, or any portion thereof that is equal to US$200,000 or an integral multiple of US$1,000 in excess thereof.

Key Points:

The 2023 Repurchase Right entitles each holder of the Exchangeable Notes to require the Company to repurchase for cash on July 1, 2023 all of such holder's Exchangeable Notes, or any portion thereof that is equal to US$200,000 or an integral multiple of US$1,000 in excess thereof.
The 2023 Repurchase Date is an interest payment date under the terms of the Indentures and the Exchangeable Notes.
If all outstanding Exchangeable Notes are surrendered for repurchase through exercise of the 2023 Repurchase Right, the aggregate cash purchase price will be US$500,000,000.
Holders of the Exchangeable Notes may request the Company's 2023 Repurchase Right Notice from the paying agent, The Bank of New York Mellon.

Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2022 Results

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월요일, 2월 27, 2023

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2022.

Key Points:

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2022.
Recorded $5.52 of net income attributable to common stockholders per diluted share and $8.45 of AFFO per diluted share.
Generated total revenues of approximately $70.5 million in the quarter, representing a 20% increase from the prior year’s fourth quarter.
Innovative Industrial Properties, Inc. will conduct a conference call and webcast at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) on Tuesday, February 28, 2023 to discuss IIP’s financial results and operations for the fourth quarter and full-year ended December 31, 2022.

FEMSA announces the pricing of the offering of shares of Heineken N.V. and Heineken Holding N.V. and the concurrent offering of exchangeable bonds exchangeable into shares of Heineken Holding N.V.

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금요일, 2월 17, 2023

MONTERREY, Mexico, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or, the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today the pricing of the sale by its wholly-owned subsidiary CB Equity LLP of existing issued ordinary shares (the “Shares”) of both Heineken N.V. and Heineken Holding N.V. (together, the “Heineken Group”) in the total amount of EUR 3.2 billion (approximately 7% of the combined interest in the Heineken Group) (the “Equity Offering”). The Company also announces today the pricing of an offering of senior unsecured exchangeable bonds in the aggregate principal amount of EUR 500 million (the “Bonds”), exchangeable into Shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”).

Key Points:

The Company also announces today the pricing of an offering of senior unsecured exchangeable bonds in the aggregate principal amount of EUR 500 million (the “Bonds”), exchangeable into Shares of Heineken Holding N.V. (the “Exchangeable Offering” and together with the Equity Offering, the “Offering”).
The Offering has been approved by FEMSA’s board of directors and is conducted and announced in accordance with applicable law.
In the final allocation, Heineken N.V. will acquire EUR 708,171,100 in shares of Heineken N.V. and EUR 291,828,750 in shares of Heineken Holding N.V.in the Equity Offering.
The exchange premium was set at a 27.5% premium above the clearing price per ordinary share of Heineken Holding N.V. in the Concurrent Equity Offering.