On Friday, Shares of Northstar Realty Finance Corp (NYSE:NRF), dropped -0.44%, to $15.82.
Northstar Realty Finance Corp, declared that NorthStar Realty Europe Corp. (“NorthStar Realty Europe” or “NRE”), a current wholly-owned partner of NorthStar Realty Finance, has priced a private offering of $300 million aggregate principal amount of NorthStar Realty Europe’s 4.625% senior stock-settlable notes due December 2016, plus up to an additional $60 million principal amount of notes that may be issued at the option of the initial purchasers within 30 days of the initial sale of the notes. The offering is predictable to close on July 1, 2015, subject to the satisfaction of customary closing conditions. The notes will be senior unsubordinated and unsecured obligations of NorthStar Realty Europe, and each of NorthStar Realty Finance and its operating partnership, NorthStar Realty Finance Limited Partnership, will guarantee payments on the notes. Subject to specified conditions being met, counting completion of the planned spin-off of NRE by NorthStar Realty Finance, the listing of NRE common stock, $0.01 par value, and public notice at least 60 days preceding to maturity, NRE may elect to settle all or part of the principal value of the notes in NRE common stock in lieu of cash, in which case the number of shares delivered per note will be based on NRE common stock prices during a measurement period right away preceding the maturity date.
NorthStar Realty Europe intends to use the net proceeds of the offering for general corporate purposes, which may comprise, among other things:
- the funding of acquisitions, counting additional European commercial real estate and other assets; and
- the repayment of NorthStar Realty Finance’s indebtedness, counting amounts outstanding under its corporate revolving credit facility, which accrues interest at a per annum rate equal to LIBOR plus 3.50% (or 3.68% per annum as of June 4, 2015) and is due on August 5, 2017.
NorthStar Realty Finance Corp. is a real estate investment trust launched and managed by NorthStar Asset Administration Group. The fund invests in the real estate markets of the United States.
Shares of Calpine Corporation (NYSE:CPN), dipped -0.73% to $17.58.
Calpine Corporation, declared that it plans to release second quarter 2015 financial results on Thursday, July 30, 2015, before the opening of the New York Stock Exchange. Administration will present the results during an investor call planned for 10 a.m. Eastern Time / 9 a.m. Central Time on July 30.
A listen-only webcast of the call may be accessed through the Company’s website at www.calpine.com, or by dialing (888) 895-5271 in the United States or (847) 619-6547 outside the United States. The confirmation code is 40141927. Please call in 10 to 15 minutes preceding to the planned start time.
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, IMAX Corporation (USA) (NYSE:IMAX), lost -0.86% $39.02.
IMAX Corporation, declared that it has optioned theatrical rights, among others, to author Donovan Hohn’s 2011 best-selling nonfiction book Moby Duck. The story, about a ship in the North Pacific that loses a container carrying thousands of rubber duck bath toys and their mysterious journey that spans the globe, will be made into a theatrical documentary produced by IMAX; its production will be spearheaded by Drew Fellman (Born to Be Wild and Island of Lemurs: Madagascar, writer/producer on both), who will produce and direct the project from a script he writes and develops.
Moby Duck, which was published by Viking, an imprint of Penguin Random House, lends itself ideally to the IMAX experience by drawing from the rich IMAX heritage of 3D adventure documentaries. As a film, Moby Duck will dramatize such interlocking threads as oceanic currents, the effects of plastics on wildlife, and the phenomenon of gyres and the Great Pacific Garbage Patch.
IMAX Corporation, together with its auxiliaries, operates as an entertainment technology company specializing in motion picture technologies and presentations worldwide. The company operates in seven segments: IMAX Systems, Theater System Maintenance, Joint Revenue Sharing Arrangements, Film Production and IMAX Digital Re-Mastering (DMR), Film Distribution, Film Post-Production, and Other.
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