On Wednesday, Denbury Resources Inc. (NYSE:DNR)’s shares inclined 21.32% to $2.47. Denbury Resources Inc. (DNR) declared the commencement of private offers (the “Exchange Offers”) to Eligible Holders of its outstanding 6⅜% Senior Subordinated Notes due 2021, 5½% Senior Subordinated Notes due 2022, and 4⅝% Senior Subordinated Notes due 2023 (collectively, the “Old Notes”) to exchange a portion of their Old Notes for up to $650 million (such amount, the “Maximum Exchange Amount”) of newly issued 7½% Senior Notes due May 15, 2022 (the “New Senior Notes”). The New Senior Notes will be senior in right of payment to the portion of the Old Notes which remain outstanding after giving effect to the Exchange Offers and to any other current or future subordinated indebtedness of the Company. The Exchange Offers are being made upon the terms and subject to the conditions set forth in the offering memorandum (the “Offering Memorandum”) and the related letter of transmittal (the “Letter of Transmittal”), each dated December 21, 2015.
The Exchange Offers will expire at 11:59 p.m., New York City time, on January 20, 2016, unless extended or earlier terminated by the Company (the “Expiration Time”). For each $1,000 principal amount of Old Notes validly tendered and not validly withdrawn preceding to 5:00 p.m., New York City time, on January 7, 2016 (as it may be extended, the “Early Participation Time”), Eligible Holders will be eligible to receive the “Total Exchange Consideration” set forth in the table below, which comprises the “Early Participation Premium”.
In addition to the Exchange Consideration or Total Exchange Consideration, as applicable, the Company will pay in cash accrued and unpaid interest on Old Notes accepted in the Exchange Offers from the last interest payment date applicable to, but not counting the Settlement Date (as defined in the Offering Memorandum) for the Exchange Offers. Interest on the New Senior Notes will accrue from the Settlement Date.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Cabot Oil & Gas Corporation (NYSE:COG)’s shares gained 6.75% to $17.64. With its recent share price change, COG market value has reached roughly $6.84 billion. Its most recent quarter balance sheet showed the company is standing at a -0.80 current ratio and possess -0.96 as debt to equity ratio. The company has a Profit Margin (ttm) of negative -13.20% and has 65.70% gross margins. The operating profit margin is -24.90%. The stock’s performance in 1 month is -8.98% and its volatility for the same period is 4.26%.
Cabot Oil & Gas Corporation, an independent oil and gas company, develops, exploits, explores for, produces, and markets natural gas, oil, and natural gas liquids in the United States. The company primarily focuses on the Marcellus Shale in northeast Pennsylvania with about 200,000 net acres in the dry gas window of the play; and the Eagle Ford Shale in south Texas with about 89,000 net acres in the oil window of the play.
Ally Financial Inc (NYSE:ALLY)‘s shares surged 3.39% to $19.23. The last trading range of Ally Financial Inc (NYSE:ALLY) ranges between $18.56 and $19.25. The EPS of the company stands at $-1.35. The 52-week range shows that the stock reached higher at $24.14 while its lower range is $18.19 in the last 52-weeks. The average volume of the company is at 4.43 million with the Outstanding Shares of 481.75 million. The market capitalization of the company is $8.96 billion. The RSI (Relative Strength Index) of 48.69.
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
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