On Friday, Shares of Ares Capital Corporation (NASDAQ:ARCC), lost -0.06% to $16.58.
Ares Capital Corporation, declared that they are establishing a new joint venture that will make senior secured loans to middle-market companies. The new joint venture will be called the Senior Direct Lending Program (SDLP). The SDLP will work to follow on with the success that Ares Capital enjoyed with its previous senior loan joint venture, the Senior Secured Loan Program (SSLP), with GE Capital.
The SDLP will underwrite and hold first lien loans, counting stretch senior and unitranche loans, that are originated by Ares and Varagon. The program will provide sponsors and administration teams with continued access to flexible capital with speed and certainty and without syndication requirements. It is predictable that the SDLP will commit and hold individual loans of up to $300 million. Ares Capital may also co-invest with the SDLP to accommodate larger transactions.
Ares Capital is a business development company that is externally managed by a partner of Ares Administration, L.P. (ARES), whose Direct Lending Group had about $29 billion in assets under administration as of March 31, 2015. Varagon was formed in 2013 as a lending platform by American International Group, Inc. (AIG) and other partners.
Shares of TECO Energy, Inc. (NYSE:TE), inclined 0.11% to $18.29, during its last trading session.
A partner of TECO Energy, Inc. (TE) has reached a non-binding letter of intent with a new buyer for the sale of all of its interest in TECO Coal LLC.
The sales agreement with Kentucky-based Cambrian Coal Corp. did not close on June 5, 2015, because the buyer could not satisfy the conditions precedent to closing, and that agreement is now terminable by either party. The new buyer does not expect to require external financing.
The transaction would be subject to the negotiation of a definitive agreement and obtaining third-party consents, and the parties presently expect to close on the sale on or before July 3.
TECO Energy, Inc., an electric and gas utility holding company, engages in the regulated electric and gas utility operations. It generates, purchases, transmits, distributes, and sells electric energy to retail customers, in addition to to utilities and other resellers of electricity in West Central Florida; and has electric generating plants with a winter peak generating capacity of 4,668 megawatts.
At the end of Friday’s trade, Shares of Lululemon Athletica inc. (NASDAQ:LULU), lost 0.93% to $65.99.
Lululemon Athletica, issued the following statement in response to media and other inquiries related to the filing of a prospectus supplement by lululemon athletica inc. (LULU):
“The prospectus supplement filed by lululemon simply enables Chip Wilson to sell his shares in the future, if he chooses to do so, on the same basis as any other stockholder.”
lululemon athletica inc., together with its auxiliaries, designs, manufactures, and distributes athletic apparel and accessories for women, men, and female youth. It operates through two segments, Corporate-Owned Stores and Direct To Consumer.
Finally, Integrated Device Technology Inc (NASDAQ:IDTI), ended its last trade with -2.92% loss, and closed at $23.59.
Integrated Device Technology, declared the addition of 6 and 8 output 3.3 V clock generators to its low-power PCI Express portfolio of clock generators. The 3.3 V family of devices joins the existing 1.5 V and 1.8 V families. The new products operate at about 100 milliwatts, making them the lowest power 3.3 V PCIe clock generators on the market. By operating at roughly one-fifth the power of traditional PCIe clock devices, the IDT 3.3 V devices effectively eliminate thermal concerns.
With their integrated terminations, the 9FGL06 and 9FGL08 devices’ ultra-compact 5×5- and 6×6-millimeter packages can deliver up to a 90 percent reduction in board area. Factory programmable versions provide quick turn device optimizations to meet exact customer requirements. The SoC-friendly devices greatly exceed the phase jitter requirements of the PCIe Gen3 specification in anticipation of the forthcoming PCIe Gen4 specification, and are also suitable for applications needing less than 3ps rms 12k-20M phase jitter, such as gigabit Ethernet and other high-performance applications.
Integrated Device Technology, Inc. designs, develops, manufactures, and markets a range of semiconductor solutions for the communications, computing, and consumer industries worldwide.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
