On Tuesday, Shares of CEMEX, S.A.B. de C.V. (NYSE:CX), lost -2.38% to $8.19.
CEMEX declared recently that it has fully repaid the total amount outstanding of about U.S.$1.94 billion under the facilities agreement dated September 17, 2012, as amended from time to time, with new funds from 17 financial institutions. These lenders have joined the credit agreement dated September 29, 2014, as amended under new tranches, allowing CEMEX to enhance the average life of its syndicated bank debt to about 4 years. Other financial institutions may join the Credit Agreement in the following months.
With this transaction, total commitments under the Credit Agreement raised to about U.S.$3.79 billion. These commitments comprise about EUR 620 million and about U.S.$3.12 billion, out of which about U.S.$710 million are in a revolving credit facility. The Credit Agreement now has an amortization profile, considering all commitments, of about 10% in 2017; 25% in 2018; 25% in 2019; and 40% in 2020.
As a result of this refinancing, CEMEX has no noteworthy debt maturities in 2016 and 2017 other than the about U.S.$352 million of Convertible Subordinated Notes due March 2016 and about U.S.$373 million corresponding to the first amortization under the Credit Agreement in September 2017.
CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia.
Shares of Calpine Corp. (NYSE:CPN), declined -1.37% to $17.32, during its last trading session.
Calpine Corporation stated second quarter 2015 Adjusted EBITDA of $457 million, contrast to $413 million in the preceding year period, and Adjusted Free Cash Flow of $144 million, or $0.39 per diluted share, contrast to $99 million, or $0.23 per diluted share, in the preceding year period. Net Income for the second quarter of 2015 was $19 million, or $0.05 per diluted share, contrast to $139 million, or $0.33 per diluted share, in the preceding year period. Net Income, As Adjusted, for the second quarter of 2015 was $33 million contrast to Net Loss, As Adjusted,of $3 million in the preceding year period. The enhances in Adjusted EBITDA, Adjusted Free Cash Flow and Net Income, As Adjusted, were primarily due to higher Commodity Margin driven largely by raised generation across all segments resulting from lower natural gas prices in the East and Texas and stronger market conditions in the West during June, in addition to higher contribution from hedges across all of our regions.
Calpine Corporation, a wholesale power generation company, owns and operates natural gas-fired and geothermal power plants in North America. It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines.
Finally, Zoetis Inc. (NYSE:ZTS), ended its last trade with 0.76% gain, and closed at $48.85.
Zoetis stated its financial results for the second quarter of 2015 and updated its full year 2015 guidance.
The company stated revenue of $1.2 billion for the second quarter of 2015, which raised 1% contrast to the second quarter of 2014. Revenue reflected an operational enhance of 11%, not taking into account the impact of foreign exchange.
The net loss for the second quarter of 2015 was $37 million, or $0.07 per diluted share, which comprises $263 million in pre-tax charges related to the company’s formerly declared comprehensive operational efficiency initiative. Adjusted net income for the second quarter of 2015 was $216 million, or $0.43 per diluted share, an enhance of 14% and 13%, respectively. Adjusted net income for the second quarter of 2015 excludes the net impact of $253 million, or $0.50 per diluted share, for purchase accounting adjustments, acquisition-related costs and certain noteworthy items. On an operational basis, adjusted net income for the second quarter of 2015 raised 20%, with foreign currency having a negative impact of 6 percentage points.
Zoetis Inc. engages in the discovery, development, manufacture, and commercialization of animal health medicines and vaccines for livestock and companion animals worldwide.
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