On Wednesday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), gained 0.86% to $28.27.
Cisco Systems has planned a conference call for Wednesday, August 12, 2015, at 1:30 PM (PT); 4:30 PM (ET) to declare its fourth quarter and fiscal year 2015 financial results for the period ending Saturday, July 25, 2015.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide.
Shares of Enterprise Products Partners L.P. (NYSE:EPD), declined -5.96% to $25.86, during its last trading session.
Enterprise Products Partners declared its financial results for the three and six months ended June 30, 2015.
- Enterprise raised its cash distribution with respect to the second quarter of 2015 by 5.6 percent to $0.38 per unit contrast to the second quarter of 2014;
- Enterprise stated distributable cash flow of $988 million for the second quarter of 2015, which offered 1.3 times coverage of the $0.38 per unit cash distribution and resulted in $238 million of retained distributable cash flow; and
- Associates of privately held Enterprise Products Company (“EPCO”), which collectively own our general partner and about 34 percent of our outstanding limited partner interests, purchased $50 million of common units from Enterprise in May 2015 through the distribution reinvestment plan. Counting this purchase, EPCO associates have purchased $150 million of Enterprise common units in 2015.
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products in the United States and internationally.
Finally, Resource Capital Corp. (NYSE:RSO), ended its last trade with -12.36% loss, and closed at $3.05, hitting its lowest level.
Resource Capital Corp., declared that its newly formed partner, Resource Capital Corp. 2014-CRE4, Ltd., will issue $223.735 million of non-recourse, floating-rate notes at a weighted average cost of LIBOR +171 basis points. The Offered Notes comprise $179.927 million of Class A Notes, rated Aaa by Moody’s Investors Services, Inc. which will be issued at a coupon of LIBOR +140 basis points and $43.81 million of Class B Notes, rated Baa3 by Moody’s, which will be issued at a coupon of LIBOR +300 basis points. The Offered Notes are collateralized by floating rate commercial real estate first mortgage loans originated by wholly-owned auxiliaries of the Company. The Company will retain the subordinated notes and the preferred shares in the transaction, totaling $89.2 million, or 28.5% of the deal. The transaction is predictable to close on or about August 20, 2015 subject to the satisfaction of customary closing conditions.
This transaction continues the Company’s practice of term financing its lightly transitional floating rate whole loan originations through its proven access to the CRE CLO market. Dave Bloom, Head of Real Estate for the Company said, “Recently we declare the pricing of our fourth securitization, RSO CRE 2015-4. We are again extremely happy with the support that the institutional investment community has demonstrated in the credit quality of our loans through the successful execution of this transaction just two days after announcing its launch. During a period of noteworthy volatility for similar transactions, our execution at a weighted average cost of LIBOR+171 provides ongoing validation by the market of our ability to originate and structure high quality, floating rate, transitional loans. With this transaction RSO has successfully match-funded over $1.4 Billion of our self-originated whole loans in under 20 months. We are achieving a record pace of new loan originations and look forward to accessing the CRE CLO market as a known and trusted issuer on a regular basis.”
Resource Capital Corp., a diversified real estate investment trust, primarily focuses on originating, holding, and managing commercial mortgage loans and other commercial real estate-related debt and equity investments in the United States.
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