During Thursday’s Morning trade, Shares of Citigroup Inc. (NYSE:C), lost -0.42% to $56.30.
On 9 June 2015, Citigroup, declared its invitation to eligible holders of its €1,250,000,000 4.25% Fixed Rate / Floating Rate Callable Subordinated Notes due 2030 (ISIN:XS0213026197) £400,000,000 6.5% Fixed Rate Senior Notes due 2030 (ISIN:XS0116066449) and its CHF400,000,000 3.00% Fixed Rate Notes due 2019 (ISIN:CH0029365100) to tender their Notes for purchase by the Company for cash.
The Offers were made on the terms and subject to the conditions contained in the tender offer memorandum dated 9 June 2015 (the “Tender Offer Memorandum”). Capitalised terms used but not otherwise defined in this declaration shall have the meanings given to them in the Tender Offer Memorandum.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Shares of Energen Corp. (NYSE:EGN), inclined 1.39% to $69.41, during its current trading session.
Energen Corporation, declared that it has priced an underwritten public offering of 5,700,000 shares of its common stock. Total gross proceeds of the offering (before underwriter’s discounts and commissions and estimated offering expenses) will be about $405 million. The underwriter intends to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The underwriter has a 30-day option to purchase up to 855,000 additional shares of common stock from Energen. The offering is predictable to close on or about June 22, 2015, subject to customary closing conditions.
Energen intends to use the net proceeds from the offering to fund a slight enhance in drilling activity in the Midland Basin in the second half of 2015 and, more significantly, to start a multi-year acceleration of development activities in the Permian Basin in 2016, with capital investment in 2016 of $1.0 billion or more; net proceeds also may be used for other general corporate purposes, counting the acquisition of proved and unproved leasehold. Pending such uses, Energen intends to use the net proceeds from this offering to repay borrowings outstanding under its credit facility.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. The common stock will be issued and sold following an effective automatic shelf registration statement on Form S-3 formerly filed with the Securities and Exchange Commission. When accessible, copies of the written prospectus for the offering may be obtained from Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), at One Madison Avenue, New York, New York.
Energen Corporation, through its partner Energen Resources Corporation, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States.
Finally, Archer-Daniels-Midland Company (NYSE:ADM), gained 0.90%, and is now trading at $51.40.
Archer-Daniels-Midland Company, declared that as of 5:00 p.m., New York City time, June 12, 2015, the below-listed amounts of the following debentures (the “Debentures”) have been validly tendered and not validly withdrawn in connection with the cash tender offers, as stated by the depositary. These Debentures, if accepted, will be eligible for the early tender payment of $30.00 per $1,000.00 principal amount of Debentures. Debentures tendered following the offers can no longer be withdrawn. The terms and conditions of the tender offers are described in detail in the Offer to Purchase dated June 1, 2015, and the related Letter of Transmittal.
The formerly declared early tender time for each series of Debentures has been extended to 5:00 p.m., New York City time, on June 30, 2015, which is the current expiration date for the offers. Holders of Debentures that are validly tendered preceding to the expiration date will be eligible to receive the early tender payment of $30.00 per $1,000.00 principal amount of Debentures. All other terms of the offers, as formerly declared, remain unchanged except that all holders will be eligible to receive the early tender payment regardless when their Debentures were tendered.
The tender offers will expire at 5:00 p.m., New York City time, on June 30, 2015, unless extended.
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities and products. The company’s Oilseeds Processing segment originates, merchandises, crushes, and processes soybeans and soft seeds into vegetable oils and protein meals.
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