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A roundup of some of the North American equities making moves in both directions today
On the rise
BlackBerry Ltd. (BB-T) was higher on Wednesday after announcing Volvo Group has selected its QNX software for its heavy vehicles’ dynamic software platform.
“We are delighted to extend our partnership with the Volvo Group and help bring to market their world-class fleet of commercial vehicles,” said Senior Vice President and Co-Head of BlackBerry Technology Solutions John Wall. “OEMs are constantly looking to deploy the right software foundation for the safe and secure architecture of the whole truck, and with BlackBerry QNX we are able to deliver the components and fun
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QUINCY, Ill., April 7, 2021 /PRNewswire/ Titan International, Inc. (NYSE: TWI) ( Titan or the Company ) Titan announced today that, in accordance with the redemption provisions of the indenture governing its 6.50% Senior Secured Notes due 2023 (the 2023 Notes ), it has called for redemption all of the 2023 Notes.
The call is conditional upon the closing of a new secured notes offering. The 2023 Notes will be redeemed on May 7, 2021, assuming satisfaction of the conditions set forth above. Pursuant to the indenture, the notes will be redeemed at 103.25% of the principal amount, plus accrued and unpaid interest to, but not including, the redemption date.
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QUINCY, Ill., April 7, 2021 /PRNewswire/ Titan International, Inc. (NYSE: TWI) ( Titan or the Company ) today announced its intention to offer through a private placement, subject to market and other conditions, $400 million aggregate principal amount of its Senior Secured Notes due 2028 (the 2028 Notes ). The 2028 Notes are being offered by the initial purchasers only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act ), and outside the United States in compliance with Regulation S under the Securities Act.
Titan intends to use the net proceeds from the offering 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, which are being called for redemption in accordance with the applicable provisions of the indenture
Bausch Health To Reduce Debt By $100 Million Using Cash Generated From Operations
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LAVAL, Quebec, April 7, 2021 /PRNewswire/ Bausch Health Companies Inc. (NYSE/TSX: BHC) ( Bausch Health or the Company ) today announced it will reduce debt by $100 million through the redemption of outstanding senior secured notes, using cash generated from operations.
Bausch Health will redeem $100 million aggregate principal amount of its outstanding 7.00% Senior Secured Notes due 2024, CUSIP Nos. 91911K AK8, C94143 AK7 (the Notes ) on May 7, 2021. The Company previously redeemed a total of $200M aggregate principal amount of the Notes in March 2021.