On Thursday, NRG Yield, Inc. Class C (NYSE:NYLD)’s shares declined -0.17% to $23.50.
NRG Yield, Inc. Class A (NYLD) declared that, in connection with its formerly declared offering of $250 million in aggregate principal amount of its 3.25% convertible senior notes due 2020 (the “Notes”), the underwriters of the offering have exercised in full their option to purchase an additional $37.5 million in aggregate principal amount of the Notes (the “Additional Notes”), bringing the total aggregate principal amount of Notes sold in the offering to $287.5 million. The closing of the offering is predictable to occur on June 29, 2015, subject to customary closing conditions.
The Additional Notes will be fully and unconditionally guaranteed on a senior basis by NRG Yield LLC and NRG Yield Operating LLC (“Yield Operating LLC”), the direct and indirect auxiliaries of the Company, respectively. NRG Yield will lend the net proceeds from this offering to Yield Operating LLC, and Yield Operating LLC intends to use a portion of the proceeds to repay outstanding indebtedness under the revolving credit facility and a portion of the project indebtedness associated with the Company’s Alta X and Alta XI wind facilities. Any remaining proceeds will be used for general corporate purposes, counting the acquisition of assets from NRG Energy, Inc. or other third parties, although NRG Yield does not presently have any agreements to do so in place.
NRG Yield, Inc., through its auxiliaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2014, it had 4 natural gas or dual-fired facilities, 4 thermal generation facilities, 11 utility-scale solar and wind generation facilities, and 2 portfolios of distributed solar facilities with a capacity of about 2,984 net megawatt (MW).
Gap Inc (NYSE:GPS)’s shares dropped -0.44% to $38.76.
Gap Inc (GPS) declared a series of planned actions to position Gap brand for improved business performance and build for the future. Following a thorough evaluation of its business and operations, Gap plans to right-size its specialty store fleet and streamline its headquarter workforce, primarily in North America, as part of the comprehensive effort to deliver more compriseent and compelling product collections and engage customers across all channels.
In order to drive productivity improvements and showcase the brand in the most successful locations, Gap will close about 175 specialty stores in North America over the next few years, with about 140 closures occurring this fiscal year. These changes will not impact Gap Outlet and Gap Factory Stores. In parallel with these moves, the brand will close a limited number of European stores during this period.
Following the fleet optimization effort, the brand will continue to serve North American customers through about 800 Gap stores – comprised of 500 Gap specialty locations and 300 Gap outlet stores – in addition to its dynamic online channels, better reflecting the way recently customers shop across specialty, outlet and online. The brand will continue to have a robust global presence in more than 50 countries and with about 1,600 company-operated and franchise locations globally.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names. The company provides apparel, handbags, shoes, jewelry, personal care products, and eyewear for men and women; and performance and lifestyle apparel for use in yoga, strength training, and running, as well as seasonal sports, including skiing and tennis. It offers its products through company-operated stores, franchise stores, Websites, e-commerce and social sites, and catalogs.
At the end of Thursday’s trade, Nordic American Tanker Ltd (NYSE:NAT)‘s shares dipped -2.77% to $14.23.
Nordic American Tanker Ltd (NAT) anticipates to declare the dividend for 2Q2015, July 15, 2015, before NYSE opening.
NAT has paid dividends for the past 71 successive quarters. The dividend for the first quarter 2015 was $0.38 per share. As indicated in a letter to shareholders of yesterday, NAT anticipates the second quarter 2015 also to produce good results. The 2Q2015 earnings report is planned to be declared before NYSE opening August 10, 2015. Dividend for the second quarter is predictable to be paid August 12, 2015 for holders of record July 29, 2015.
Nordic American Tankers Limited, a tanker company, engages in acquiring and chartering double-hull tankers. As of December 31, 2014, it owned 24 Suezmax crude oil tankers, counting two new buildings under construction. The company was founded in 1995 and is based in Hamilton, Bermuda.
Goldman Sachs Group Inc (NYSE:GS), ended its Thursday’s trading session with -0.79% loss, and closed at $212.73.
Goldman Sachs Group Inc (GS) declared that it will discontinue, effective right away, any further issuances of its GS Connect S&P GSCI Improved Commodity Total Return Strategy Index ETN due 2037 (NYSE Arca:GSC), part of its Medium-Term Notes, Series B (the “ETN”). The ETN holders’ option to require The Goldman Sachs Group, Inc. to repurchase the ETNs on a weekly redemption date (subject to the terms and conditions set forth in the prospectus, as amended or supplemented from time to time, regarding the ETN) will not be affected by this discontinuation of new issuances.
Investors should be aware that the discontinuation of additional issuance may cause an imbalance of supply and demand in the secondary market for the ETN, which may cause the ETN to trade at a premium or discount in relation to its intraday indicative value. Paying a premium purchase price over the intraday indicative value of the ETN could lead to a loss on the investment even if the index to which the ETN is linked enhances in value. In addition, if investors elect to redeem their ETN, any redemption would be at the redemption value and would not comprise any premium above that value.
The Goldman Sachs Group, Inc. operates as an investment banking, securities, and investment administration company worldwide. The company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Administration. The Investment Banking segment provides financial advisory services, such as planned advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk administration; and underwriting services, counting public offerings and private placements of a range of securities and other financial instruments, in addition to derivative transactions reached with public and private sector clients.
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