StoneMor Inc. Announces Pricing of Senior Secured Notes Offering
April 23, 2021 17:34 ET | Source: StoneMor Partners L.P. StoneMor Partners L.P.
BENSALEM, Pa., April 23, 2021 (GLOBE NEWSWIRE)
StoneMor Inc. (NYSE: STON) (“StoneMor” or the “Company”), a leading owner and operator of cemeteries and funeral homes, announced today the pricing of $400 million aggregate principal amount of its 8.500% Senior Secured Notes due 2029 (the Notes ). The Notes will be issued at a price equal to 100% of the principal amount thereof, plus accrued interest from May 11, 2021. The Notes will be senior secured obligations of the Company and will be guaranteed by certain of the Company’s domestic subsidiaries and by any foreign subsidiary that guarantees any future credit facility. The offering is expected to close on May 11, 2021, subject to customary closing conditions.
WFW advises Danaos on US$1.25bn refinancing
Watson Farley & Williams (“WFW”) has advised long-standing client Danaos Corporation (“Danaos”) on the refinancing of US$1.25bn of its outstanding senior secured debt (which totalled US$1.3bn as of 31 December 2020).
Danaos has refinanced all its outstanding debt under nine senior secured credit facilities, streamlining its capital structure from nine credit facilities to one. WFW advised on a US$815m senior secured credit facility with Citibank N.A. and National Westminster Bank plc, a US$135m sale and leaseback agreement with Oriental Fleet International Company Limited, an affiliate of COSCO Shipping Lease Co., Ltd., in respect of five vessels, and Danaos’ February 2021 offering, proceeds of which amount to US$300m of 8.500% Senior Secured Notes due in 2028.
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QUINCY, Ill., April 22, 2021 /PRNewswire/ Titan International, Inc. (NYSE: TWI) ( Titan or the Company ) today announced the closing of its offering of $400 million aggregate principal amount of 7.00% Senior Secured Notes due 2028 (the 2028 Notes ). The 2028 Notes were offered and sold 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, and outside the United States in compliance with Regulation S.
Titan intends to use the net proceeds from the offering and cash on hand to finance the redemption of its 6.50% Senior Secured Notes due 2023 (the 2023 Notes ), including all call premiums, accrued interest, costs and expenses associated therewith. The 2023 Notes were called for redemption on April 7, 2021 in accordance with the applicable provisions of the indenture governing the 2023 Notes. The 2023 Notes will be redeemed on May 7,
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Morgan Stanley, Credit Suisse, Others Arrange Refinance Facility for Gogo
April 22, 2021, 08:00 AM
Gogo announced the pricing and allocation of a 7-year $725 million term loan B (the Term Loan B ) and a 5-year $100 million revolving credit facility (the Revolver and together with the Term Loan B, the Facilities ), marking an important milestone in its comprehensive refinancing efforts. Gogo expects that the Term Loan B will bear interest at LIBOR (with a LIBOR floor of 0.75%) plus 3.75% and be offered at 99.5% of par (or with an original issue discount of 0.5%). Morgan Stanley, Credit Suisse, Deutsche Bank, Benefit Street Partners and CBAM Partners acted as Joint Lead arrangers. Morgan Stanley is also administrative agent on the term loan.