Note

Brandywine Realty Trust Announces Closing of $400 Million Offering of 8.875% Guaranteed Notes Due 2029

Retrieved on: 
Friday, April 12, 2024
Sale, Retirement, Prospectus, Security (finance), Partnership, BDN, Brandywine Realty Trust, Note

PHILADELPHIA, April 12, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (the “Company”) (NYSE: BDN) announced today that its operating partnership, Brandywine Operating Partnership, L.P. (the “Operating Partnership”), has closed its previously announced underwritten public offering of $400 million of its 8.875% guaranteed notes due 2029 (the “Notes”).

Key Points: 
  • PHILADELPHIA, April 12, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (the “Company”) (NYSE: BDN) announced today that its operating partnership, Brandywine Operating Partnership, L.P. (the “Operating Partnership”), has closed its previously announced underwritten public offering of $400 million of its 8.875% guaranteed notes due 2029 (the “Notes”).
  • The Operating Partnership intends to use the net proceeds of the offering to repurchase or redeem the $335.1 million outstanding principal amount of its 4.10% Guaranteed Notes due October 1, 2024 and for general corporate purposes, which may include the repayment, repurchase or other retirement of other indebtedness.
  • The offering of the Notes was made pursuant to an effective shelf registration statement and related prospectus and preliminary prospectus supplement filed by the Company with the Securities and Exchange Commission.
  • This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

JOYY Inc. Announces Repurchase Right Notification for 1.375% Convertible Senior Notes due 2026

Retrieved on: 
Friday, April 12, 2024
Debt-to-GDP ratio, YY, Trust, Depository Trust Company, Exercise, Citibank, PARTIES, CUSIP, Attention, FICC, Repurchase agreement, Note

The Repurchase Right entitles each holder of the 2026 Notes to require the Company to repurchase for cash on June 15, 2024 (the “Repurchase Date”), all of such holder’s 2026 Notes, or any portion thereof that is an integral multiple of US$1,000 principal amount, at a repurchase price that is equal to 100% of the principal amount of the 2026 Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the Repurchase Date, subject to the terms and conditions of the Indenture and the 2026 Notes.

Key Points: 
  • The Repurchase Right entitles each holder of the 2026 Notes to require the Company to repurchase for cash on June 15, 2024 (the “Repurchase Date”), all of such holder’s 2026 Notes, or any portion thereof that is an integral multiple of US$1,000 principal amount, at a repurchase price that is equal to 100% of the principal amount of the 2026 Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the Repurchase Date, subject to the terms and conditions of the Indenture and the 2026 Notes.
  • The Repurchase Date is an interest payment date under the terms of the Indenture and the 2026 Notes.
  • If all outstanding 2026 Notes are surrendered for repurchase through exercise of the Repurchase Right, the aggregate cash repurchase price will be US$406,038,000.
  • The offer to purchase the 2026 Notes will be only pursuant to, and the 2026 Notes may be tendered only in accordance with, the Company’s Repurchase Right Notice dated April 12, 2024 and related documents.

Transocean Ltd. Announces Pricing of Upsized Private Offering of Senior Notes Due 2029 and Senior Notes Due 2031

Retrieved on: 
Thursday, April 11, 2024
Debt-to-GDP ratio, Sale, Tender offer, Transocean, United, Senior, Note, Security (finance)

The 2029 Notes will bear interest at the rate of 8.250% per annum, and the 2031 Notes will bear interest at the rate of 8.500% per annum.

Key Points: 
  • The 2029 Notes will bear interest at the rate of 8.250% per annum, and the 2031 Notes will bear interest at the rate of 8.500% per annum.
  • The offering is expected to close on or about April 18, 2024, subject to customary closing conditions.
  • The Company intends to use the remaining net proceeds from the offering for the redemption of other priority guaranteed notes.
  • The 2025 Priority Guaranteed Notes Redemption is scheduled to occur on April 23, 2024, subject to the completion of the offering.

Owens Corning Commences Exchange Offer and Masonite Commences Consent Solicitation

Retrieved on: 
Wednesday, May 1, 2024
Other Construction & Property, Residential Building & Real Estate, Manufacturing, Commercial Building & Real Estate, Construction & Property, Other Manufacturing, Exchange offer, Date, Amendment, Exchange, Statement, Wells Fargo, Settlement, Owens Corning, Eligibility, Consent, Note, Settlement date, Solicitation, Acquisition, Expiration, Arrangement, Participation, Security (finance)

Owens Corning and Masonite are making the Exchange Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offering memorandum and consent solicitation statement dated May 1, 2024 (the “Statement”).

Key Points: 
  • Owens Corning and Masonite are making the Exchange Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offering memorandum and consent solicitation statement dated May 1, 2024 (the “Statement”).
  • Eligible Holders may not deliver consents to the Proposed Amendments in the Consent Solicitation without tendering Existing Masonite Notes in the Exchange Offer, and may not tender Existing Masonite Notes in the Exchange Offer without delivering consents in the Consent Solicitation.
  • To the extent any Existing Masonite Notes are not tendered and accepted in the Exchange Offer and Consent Solicitation, Owens Corning or Masonite may purchase any outstanding Existing Masonite Notes in the open market, in privately negotiated transactions, through one or more additional tender or exchange offers, by redemption or otherwise.
  • The New Owens Corning Notes will not be guaranteed by any of Owens Corning’s subsidiaries, including Masonite and its subsidiaries that guarantee the Existing Masonite Notes.

Office Properties Income Trust Announces Private Exchange Offers Relating to Existing Unsecured Senior Notes

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Sale, Exchange offer, OPI, Settlement date, Depreciation, Security (finance), Exchange, Expiration, Circular reference, Information, Regulation, Letter, GAAP, ATTN:, Note

An Eligible Holder (as defined below) must tender all of its Existing 2025 Notes in the Exchange Offers in order to participate in the Exchange Offers.

Key Points: 
  • An Eligible Holder (as defined below) must tender all of its Existing 2025 Notes in the Exchange Offers in order to participate in the Exchange Offers.
  • An Eligible Holder may withdraw Existing 2025 Notes from an Exchange Offer only if it validly withdraws all its Existing 2025 Notes from such Exchange Offer and also validly withdraws its tender of all other Existing Notes from the applicable Exchange Offers.
  • Holders of Existing Notes who wish to receive a copy of the eligibility letters for the Exchange Offers may contact the information and exchange agent, D.F.
  • The Existing Notes that are not exchanged will continue to be outstanding in accordance with all other terms of the Existing Notes and the indentures governing such Existing Notes.

VICI Properties Inc. Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
REIT, Lodging, Commercial Building & Real Estate, Construction & Property, Travel, Debt-to-GDP ratio, Sale, Apollo, Total, Investment, Recreation, Risk, Sport, CPI, ATM, Margaritaville Casino, FFO, Acquisition, Vici Properties, VICI, Note, Holding company

VICI Properties Inc. (NYSE: VICI) (“VICI Properties”, “VICI” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2024.

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties”, “VICI” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2024.
  • Total revenues for the quarter included $135.7 million of non-cash leasing and financing adjustments and $19.3 million of other income.
  • AFFO per share was $0.56 for the quarter, an increase of 6.1% compared to $0.53 for the quarter ended March 31, 2023.
  • The initial $400.0 million investment will be funded in three quarterly draws based on a fixed funding schedule: $100.0 million in Q2 2024, $150.0 million in Q3 2024 and $150.0 million in Q4 2024.

Six Flags Announces Closing of Offering of $850 Million of 6.625% Senior Secured Notes due 2032

Retrieved on: 
Thursday, May 2, 2024
Tourist Attractions, Theme Parks, Other Entertainment, Entertainment, Travel, Sale, SFTP, Plan, Water, Public expenditure, Senior, Cedar Fair, Regulation, Mergers and acquisitions, Person, Note

Pursuant to the Merger Agreement, Cedar Fair and Six Flags will each merge with and into HoldCo, with HoldCo continuing as the surviving entity.

Key Points: 
  • Pursuant to the Merger Agreement, Cedar Fair and Six Flags will each merge with and into HoldCo, with HoldCo continuing as the surviving entity.
  • This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security.
  • No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
  • Any offers of the Notes will be made only by means of a private offering memorandum.

Cedar Fair Announces Successful Closing of $1.0 Billion Term Loan B and $300 Million Revolving Credit Facility

Retrieved on: 
Wednesday, May 1, 2024
Finance, Theme Parks, Professional Services, General Entertainment, Entertainment, Weil, Gotshal & Manges, Goldman Sachs, Chase Bank, JPMorgan Chase, National Association, Senior, Citizens Bank, Cedar Fair, Capital One, Wells Fargo, HSBC, Texas Capital Bank, Credit, Note, Bank

Cedar Fair, L.P. (NYSE: FUN) (the “Company”), a leader in regional amusement parks, water parks, and immersive entertainment, today announced it has entered into new credit facilities (the “New Credit Facilities”), comprising of a 7-year $1.0 billion senior secured term loan B maturing in 2031 and a new $300 million revolving credit facility maturing in 2028.

Key Points: 
  • Cedar Fair, L.P. (NYSE: FUN) (the “Company”), a leader in regional amusement parks, water parks, and immersive entertainment, today announced it has entered into new credit facilities (the “New Credit Facilities”), comprising of a 7-year $1.0 billion senior secured term loan B maturing in 2031 and a new $300 million revolving credit facility maturing in 2028.
  • The new revolving credit facility will replace Cedar Fair’s existing revolving credit facility.
  • “We are very pleased with the solid execution of the transaction and strong market demand for our term loan,” said Cedar Fair CFO Brian Witherow.
  • The interest rate for borrowings under the revolving credit facility will be Term SOFR or Term CORRA plus a margin of 2.00% per annum.

Franklin Street Properties Corp. Announces First Quarter 2024 Results

Retrieved on: 
Tuesday, April 30, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Sale, Internet, Net income, Note 2, Franklin Street, VIE, News, Alert messaging, Investment, Monument, Webcast, Financial instrument, FFO, Foot, Sun Belt, Funds from operations, Consolidated, Current research information system, Sponsor, Bank statement, FSP, GAAP, G&A, Note

Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American: FSP), a real estate investment trust (REIT), announced its results for the first quarter ended March 31, 2024.

Key Points: 
  • Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American: FSP), a real estate investment trust (REIT), announced its results for the first quarter ended March 31, 2024.
  • G&A expenses for the first quarter of 2024 were $0.3 million higher than the first quarter of 2023.
  • Today’s news release, along with other news about Franklin Street Properties Corp., is available on the Internet at www.fspreit.com .
  • A conference call is scheduled for May 1, 2024, at 11:00 a.m. (ET) to discuss the first quarter 2024 results.

Herbalife Reports Year-Over-Year Net Sales Growth for Second Consecutive Quarter; Raises Full-Year 2024 Adjusted EBITDA1 Guidance

Retrieved on: 
Wednesday, May 1, 2024
Vitamins, Supplements, Health, Fitness & Nutrition, Debt-to-GDP ratio, Herbalife, Summit, Software as a service, Public expenditure, HLF, Senior, Amend, EPS, Line of credit, Multimedia, Adjustment, Growth, Note

View the full release here: https://www.businesswire.com/news/home/20240430842240/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240430842240/en/
    “We achieved our second consecutive quarter of year-over-year net sales growth.
  • We are laser focused on cost reductions, which drove outperformance of our Adjusted EBITDA1 guidance,” said Michael Johnson, Chairman and CEO.
  • 2 Growth/decline in net sales excluding the effects of foreign exchange is based on “net sales in local currency,” a non-GAAP financial measure.
  • Herbalife reported first quarter 2024 net sales of $1.3 billion, up 1.0% year-over-year.