Debt

First Quantum Minerals Announces Pricing and Upsizing of Senior Notes Offering

Thursday, September 17, 2020 - 10:59pm

TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (First Quantum or the Company) (TSX:FM) today announced that it has successfully completed the pricing of its offering (the Offering) of $1,500 million aggregate principal amount of 6.875% Senior Notes due 2027 (the Notes).

Key Points: 
  • TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. (First Quantum or the Company) (TSX:FM) today announced that it has successfully completed the pricing of its offering (the Offering) of $1,500 million aggregate principal amount of 6.875% Senior Notes due 2027 (the Notes).
  • The original offering amount of the Notes of $1,000 million has been increased to $1,500 million.
  • Interest on the Notes will accrue from the issue date at a rate of 6.875% per annum and will be payable semi-annually.
  • The Notes will be senior unsecured obligations of the Company and will be guaranteed by certain of the Company's subsidiaries.

Benefitfocus Adds PayActiv as Financial Wellness Partner

Thursday, September 17, 2020 - 9:15pm

PayActiv, a Public Benefit Corporation and Certified B-Corp, is a holistic financial wellness platform that gives employees on-demand access to earned but unpaid wages.

Key Points: 
  • PayActiv, a Public Benefit Corporation and Certified B-Corp, is a holistic financial wellness platform that gives employees on-demand access to earned but unpaid wages.
  • Businesses that partner with PayActiv see significant cost reductions through increased recruitment, engagement and retention.
  • Employees love PayActiv because it eliminates the expensive between-paychecks tolls of payday loans, bank overdrafts and late fees.
  • PayActiv also offers a suite of financial services that include savings and budgeting tools, bill payment and financial health measurement.

Candelaria Announces Shares for Debt Transaction

Thursday, September 17, 2020 - 9:46pm

VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Candelaria Mining Corp. (TSXV:CAND, OTC PINK:CDELF) (the Company) announces that it has agreed to settle outstanding debt of US$825,000 with an arms length creditor by issuing 2,175,030 common shares of the Company at a deemed price of C$0.50 per share.

Key Points: 
  • VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Candelaria Mining Corp. (TSXV:CAND, OTC PINK:CDELF) (the Company) announces that it has agreed to settle outstanding debt of US$825,000 with an arms length creditor by issuing 2,175,030 common shares of the Company at a deemed price of C$0.50 per share.
  • The issuance of common shares in connection with the debt settlement is subject to the approval of the TSX Venture Exchange.
  • The common shares issued pursuant to the debt settlement will be subject to a four-month hold period in accordance with applicable securities legislation.
  • Candelaria Mining is a Canadian-based gold development and exploration company with a portfolio of highly prospective projects in Mexico, one of the worlds best mining jurisdictions.

First Resource Bank Completes $6 Million Subordinated Debt Offering

Thursday, September 17, 2020 - 5:52pm

EXTON, Pa., Sept. 17, 2020 /PRNewswire/ --First Resource Bank (OTCQX: FRSB) announced the completion of its $6 million subordinated notes offering.

Key Points: 
  • EXTON, Pa., Sept. 17, 2020 /PRNewswire/ --First Resource Bank (OTCQX: FRSB) announced the completion of its $6 million subordinated notes offering.
  • "We are delighted to announce the successful completion of our subordinated debt offering," commented First Resource Bank President & CFO, Lauren Ranalli.
  • About First Resource Bank First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank, serving the banking needs of businesses, professionals and individuals in the Delaware Valley.
  • First Resource Bank disclaims any intent or obligation to update publicly any of the forward-looking statements herein, whether in response to new information, future events or otherwise.

CA Foundation Donates to RIP Medical Debt to Eliminate $2 Million in Medical Bills

Thursday, September 17, 2020 - 2:00pm

The donation allows RIP Medical Debt , a national non-profit that forgives health care debt on behalf of individual donors, philanthropists and organizations, to negotiate medical bills with providers, granting millions in debt forgiveness to Americans across the country.

Key Points: 
  • The donation allows RIP Medical Debt , a national non-profit that forgives health care debt on behalf of individual donors, philanthropists and organizations, to negotiate medical bills with providers, granting millions in debt forgiveness to Americans across the country.
  • RIP Medical Debt was established in 2014, and 100% of donations to the organization go towards its debt abolishment program.
  • When a recipient receives medical debt forgiveness it is considered an act of generosity, and the debt does not count as income to the debtor, allowing individuals to completely eliminate their medical bills.
  • "It is ironic that $20,000 can eliminate $2 million in medical debt through basic negotiation.

The Marcus Corporation Announces Launch of $87 Million Convertible Senior Notes Offering

Thursday, September 17, 2020 - 12:08pm

The Notes will be senior unsecured obligations of the Company and will accrue interest payable semiannually in arrears.

Key Points: 
  • The Notes will be senior unsecured obligations of the Company and will accrue interest payable semiannually in arrears.
  • Prior to March 15, 2025, the Notes will be convertible at the option of the holders only during certain periods and upon satisfaction of certain conditions.
  • Upon conversion, the Notes may be settled, at the Companys election, in cash, shares of the Companys common stock or a combination thereof.
  • The interest rate, conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.

Murray Energy Successfully Consummates Going-Concern Sale Transaction

Thursday, September 17, 2020 - 1:08am

Murray Energy Holdings Co. and its subsidiaries (collectively, Murray) announced today that its chapter 11 plan (the Plan) became effective as of September 16, 2020, and that it has successfully completed a sale of substantially all its assets to a privately held company owned by a group of its former creditors.

Key Points: 
  • Murray Energy Holdings Co. and its subsidiaries (collectively, Murray) announced today that its chapter 11 plan (the Plan) became effective as of September 16, 2020, and that it has successfully completed a sale of substantially all its assets to a privately held company owned by a group of its former creditors.
  • The United States Bankruptcy Court for the Southern District of Ohio (Western Division) (the Court) approved the Plan on August 31, 2020.
  • Through the restructuring process, Murray effectuated the sale of substantially all of their assets to American Consolidated Natural Resources, Inc. (ACNR), a new entity formed at the direction of an ad hoc group of Murrays superpriority term loan lenders.
  • In addition, ACNR will manage and operate the Foresight Energy mines and the Murray Metallurgical mines through two separate management services agreements.

W. R. Berkley Corporation Announces Pricing of $250 Million of 4.25% Subordinated Debentures Due 2060

Wednesday, September 16, 2020 - 9:15pm

W. R. Berkley Corporation (NYSE: WRB) (the Company) announced today that it priced an offering of $250 million aggregate principal amount of 4.25% Subordinated Debentures due 2060 (the Debentures).

Key Points: 
  • W. R. Berkley Corporation (NYSE: WRB) (the Company) announced today that it priced an offering of $250 million aggregate principal amount of 4.25% Subordinated Debentures due 2060 (the Debentures).
  • The net proceeds of the offering will be used to redeem the remaining $150 million aggregate principal amount of 5.625% Subordinated Debentures due 2053, with the remaining balance for general corporate purposes.
  • A shelf registration statement relating to the Debentures has been filed with the Securities and Exchange Commission (SEC) and has become effective.
  • The offering of the Debentures will be made only by means of a prospectus supplement and accompanying prospectus.

Sienna Announces Pricing of $175 Million Aggregate Principal Amount of 3.45% Series B Senior Unsecured Debentures and Plans to Enter Into a $100 Million Secured Term Credit Facility

Wednesday, September 16, 2020 - 7:13pm

Contemporaneous with the closing of the Offering, Sienna expects to enter into a $100 million secured term credit facility (the Credit Facility).

Key Points: 
  • Contemporaneous with the closing of the Offering, Sienna expects to enter into a $100 million secured term credit facility (the Credit Facility).
  • The Credit Facility is expected to be secured by three retirement residences of Sienna.
  • Notice of the early redemption of the Series B Secured Debentures has been delivered by LSCLP.
  • It is expected that the Series B Secured Debentures will be fully repaid on October 2, 2020.

GoExpedi Secures $25 Million in Series C Funding

Wednesday, September 16, 2020 - 2:00pm

This capital raise, which follows the company's November 2019 $25 million Series B raise, brings the total to $75 million of equity and debt capital and continues fueling GoExpedi's suite of integrated tech applications for the industrial sector.

Key Points: 
  • This capital raise, which follows the company's November 2019 $25 million Series B raise, brings the total to $75 million of equity and debt capital and continues fueling GoExpedi's suite of integrated tech applications for the industrial sector.
  • Furthermore, it will further deepen an already robust talent pool of industry experts and top tech talent.
  • Its end-to-end suite of applications and meticulous cataloging system enables spending transparency, lowering costs and unplanned downtime.
  • Staffed by experts with oilfield management experience and backed by innovative technology, GoExpedi is able to deliver an incredible service at a lower cost than traditional suppliers.