Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (5 lettori)

waltermasoni

waltermasoni

Caribbean Trader
Fabrib ha scritto:
J.C. Penney (NYSE:JCP) is talking with first-lien lenders to secure $450M in financing, with an eye toward filing for bankruptcy on Friday, CNBC reports.
One option would allow the struggling retailer to draw $225M in debtor-in-possession financing on day one and then pursue particular milestones to receive the second half of the money, according to the report.
That uncommon approach would offer some downside protection to lenders amid the unpredictable retail environment of the COVID-19 pandemic.
The milestones would be tied to how the company does against a budget that is still being determined.
The $450M is less than $1B in DIP financing that J.C. Penney had originally sought, though that would have included a rollover of existing debt.
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JC Penney (JCP.N) +30,6%. CNBC riporta che il gruppo è in trattative per un prestito di 450 milioni di dollari per evitare la bancarotta
 
Fabrib

Fabrib

Forumer storico
Goodyear Tire & Rubber Co. said Wednesday it is publicly offering $600 million in five-year senior unsecured notes. The tire maker expects to use the proceeds from the offering to repay the 8.75% notes that mature in August 2020, of which there is $282 million in principal outstanding. Goodyear's credit is rated B+ at S&P Global Ratings, which is four notches deep into speculative grade, or "junk," territory. The stock rose 2.1% in premarket trading, after falling 8.7% the past two days.
SA
 
gionmorg

gionmorg

low cost high value
Membro dello Staff
Fabrib ha scritto:
MIAMI, May 13, 2020 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE: RCL) (the "Company") today announced that it has commenced a private offering of senior secured notes to be issued by the Company in separate series of notes due 2023 and 2025 (together, the "Notes"), for an aggregate principal amount of $3.3 billion.
The Notes and the related guarantees will be secured by 28 of the company's vessels and material intellectual property of the company. The obligations under the Notes and the related guarantees will be secured by the collateral in an amount not to exceed permitted capacity under the company's existing indebtedness.
The Company expects to use the net proceeds from the offering of the Notes to repay its $2.35 billion 364-day senior secured term loan agreement with Morgan Stanley Senior Funding, Inc., as the administrative agent and collateral agent and the other lenders party thereto entered into on March 23, 2020. The Company expects to use the remainder net proceeds for general corporate purposes, which may include repayment of additional indebtedness.
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Royal Caribbean jumps after prelim results, liquidity update
May 13, 2020 8:20 AM ET|About: Royal Caribbean Cruises Ltd. (RCL)|By: Brad Olesen, SA News Editor


Royal Caribbean (NYSE:RCL) has yet to complete its quarterly report, but provided 1Q preliminary financials, including revenue at $2.0B vs $2.02B consensus. Has delayed filing, and expects to file 10-Q by May 31.

1Q Gross yield flat, net yield -1.6% y/y; Constant currency: Gross yield up 1%, net yield -0.5%

Shares rose 3.3% pre-market

The cruise line also started a $3.3B private offering of senior secured notes due 2023 and 2025, with proceeds intended to be used to pay down its $2.35 billion 364-day senior secured term loan agreement with Morgan Stanley Senior Funding, while using the remaining proceeds for general purposes.

On the expense front, RCL reiterates it estimates average ongoing ship operating expenses, admin expenses at $150M-$170M/month , and cash burn on average in a range of $250M-$275M/month.

Discloses it has amended some of its debt agreements to waive quarterly testing of covenants for next four calendar quarters.

Notes that it has sufficient liquidity for at least 12 months.

Covid impact in 1Q on net seen at $453M.

As part of its agreement with some of its with lenders, the co. has agreed not to pay dividends or conduct share buybacks.
 
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