Sunday 31 January 2016
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Active Stocks to Watch For: Bank of America Corporation, (NYSE:BAC), Exxon Mobil Corporation, (NYSE:XOM), KeyCorp., (NYSE:KEY)

On Wednesday, Shares of Bank of America Corporation (NYSE:BAC), gained 1.18% to $17.22.

Ukraine’s Eurobonds dropped for a fourth day as Bank of America Merrill Lynch warned the nation is underestimating the repercussions of default and investors awaited the outcome of Tuesday’s debt talks in Washington, according to Bloomberg.

The country’s $2.6 billion of bonds maturing in July 2017 fell 0.97 cent to 47.53 cents on the dollar at 1:46 p.m. in Kiev, extending this week’s drop to 1.95 cents. The government might be shut out of international debt markets if it continues to take a hard line with creditors that leads to a debt moratorium, Bank of America Merrill Lynch economist Vadim Khramov wrote in a research report on Wednesday. Bloomberg Reports.

Ukraine has threatened to stop paying its international creditors if they don’t accept a proposal that comprises a writedown to the face value of about $19 billion of bonds. The two sides met with the International Monetary Fund yesterday to talk about the crisis lender’s latest economic forecasts for Ukraine. Restructuring negotiations may follow recently, Ukrainian government debt envoy Vitaliy Lisovenko said last week. Bloomberg added.

In other news, Bank of America, declared a redemption notice will be presented to the property trustee for Barnett Capital III, which will result in the redemption of all $63,805,000 aggregate liquidation amount outstanding of the Floating Rate Capital Securities of Barnett Capital III.

The redemption date for these securities will be July 27, 2015, and the cash redemption price to be paid on the redemption date will be $1,000 per capital security plus accrued and unpaid distributions thereon to the redemption date. Bank of America has received all necessary approvals for these redemptions.

Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, large corporations, and governments worldwide. The company operates through Consumer & Business Banking; Consumer Real Estate Services; Global Wealth & Investment Administration; Global Banking; Global Markets; and Legacy Assets & Servicing segments.

Shares of Exxon Mobil Corporation (NYSE:XOM), declined -1% to $82.37, during its last trading session, hitting its lowest level, as oil prices fell due to an enhance in U.S. crude supplies for the first rise in more than two months, according to Reuters.

Oil prices plummeted nearly 60% from June 2014 to a six-year low in March as soaring production from the U.S. and other countries overwhelmed global demand. The swoon caught many oil traders, industry executives and policy makers off guard and rattled financial markets. WSJ Reports.

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures and markets commodity petrochemicals, counting olefins, aromatics, polyethylene and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products.

Finally, KeyCorp. (NYSE:KEY), ended its last trade with 1.93% gain, and closed at $15.31.

SunEdison, Inc., declared that is has secured financing for and started construction on the Bingham Wind project in Maine. The 185-megawatt (MW) wind project is predictable to be the largest of its kind in the New England area of the U.S.

“The Bingham wind farm is our largest wind project in Maine, and once accomplished should bring our total wind-generation capacity in the state to 552 megawatts,” said Paul Gaynor, SunEdison executive vice president of the Americas and EMEA. “SunEdison has made a major commitment in Maine’s renewable energy future, and that commitment creates new local jobs and incremental tax revenues for the state, in addition to long term stable and competitive electricity prices for rate payers. Bingham is a fantastic example of how good policies can create great economic and environmental results.”

The financing facility for the combined wind farm and generator lead is for $360 million, and the total construction cost is $420 million. KeyBanc Capital Markets Inc. served as the joint lead arranger and KeyBank National Association (KEY) acted as administrative agent on the construction loan.

KeyCorp operates as the bank holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States.


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