On Thursday, Tahoe Resources Inc (NYSE:TAHO)’s shares declined -0.82% to $12.16.
Tahoe Resources Inc. (TAHO,) declared the closing of the formerly declared secondary offering of Tahoe shares beneficially held by Goldcorp Inc. (Goldcorp) (TSX: G, NYSE: GG). A total of 58,051,692 Tahoe common shares beneficially held by Goldcorp were sold at an offering price of CAD$17.20 per share (the Offering). The Offering was accomplished through a syndicate of underwriters led by GMP Securities L.P. and BMO Nesbitt Burns Inc. acting as joint bookrunners and counting CIBC World Markets Inc., HSBC Securities (Canada) Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Citigroup Global Markets Canada Inc., Credit Suisse Securities (Canada), Inc., Goldman Sachs Canada Inc., Laurentian Bank Securities Inc., Merrill Lynch Canada Inc., Morgan Stanley Canada Ltd., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., Paradigm Capital Inc. and Raymond James Ltd.
Tahoe Resources Inc., together with its auxiliaries, explores for and produces precious metals in the Americas. The company primarily produces silver, in addition to gold, lead, and zinc. Its principal project is the Escobal project located in Southeast Guatemala. The company was formerly known as CKM Resources Inc. and changed its name to Tahoe Resources Inc. in January 2010. Tahoe Resources Inc. was incorporated in 2009 and is headquartered in Reno, Nevada.
Oshkosh Corporation (NYSE:OSK)’s shares gained 0.94% to $41.67.
The U.S. Army has awarded Oshkosh Defense, LLC, an Oshkosh Corporation (OSK) company, a five year requirements contract to recapitalize its Family of Heavy Tactical Vehicles (FHTV). Oshkosh will bring the Army’s fleet of Heavy Expanded Mobility Tactical Trucks (HEMTT) and Palletized Load Systems (PLS) to the latest model configuration and the same zero-mile, zero-hour condition as new production vehicles.
Overall, the contract’s potential value is $780 million for the recapitalization of an estimated 1,800 FHTVs, in addition to the production of about 1,000 trailers. All work performed under the contract will be accomplished in Oshkosh, Wisconsin, with deliveries occurring from 2015 to 2019.
Through recapitalization, heavily used vehicles are returned to Oshkosh, stripped to the frame rails and completely rebuilt to like-new condition. Recapitalized vehicles are assembled on the same production line as new vehicles, and put through the same extensive performance tests and inspection procedures as new vehicles. The vehicles also receive the latest technology and safety upgrades and are delivered with a new bumper-to-bumper warranty.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. Its Access Equipment segment offers aerial work platforms and telehandlers used in construction, agricultural, industrial, institutional, and general maintenance applications. This segment also offers towing and recovery equipment, and carriers and wreckers; and installs equipment and sells chassis and service parts, in addition to offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements. Its Defense segment manufactures severe-duty, heavy, and medium-payload tactical trucks for the department of defense, counting hauling tanks, missile systems, ammunition, fuel, troops and cargo for combat units, and light-payload tactical vehicles.
At the end of Thursday’s trade, Hercules Offshore, Inc. (NASDAQ:HERO)‘s shares dipped -0.32% to $0.215.
Hercules Offshore, Inc. (HERO) said Saudi Aramco – the state-owned national oil company of Saudi Arabia – has withdrawn its formerly issued notice of termination for Hercules 261, one of the three jackup rigs working in the Persian Gulf.
Moreover, all terms and conditions of the contract will remain effective for the remaining tenure of the five-year period that runs through Nov 2019.
Hercules Offshore, Inc., together with its auxiliaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through Domestic Offshore, International Offshore, and International Liftboats segments.
PNC Financial Services Group Inc (NYSE:PNC), ended its Thursday’s trading session with -0.60% loss, and closed at $96.47.
PNC Financial Services Group Inc (PNC) Motorcar Parts of America, Inc. (MPAA) declared it has reached a $125 million credit facility with PNC Bank National Association (PNC) comprising of a $100 million revolver and $25 million term loan.
Loans outstanding under the new credit facility bear interest, at the company’s option, at the domestic rate or at the LIBOR rate plus, in each case, an applicable per annum margin. The current applicable LIBOR interest rate for both the revolver and the term loan is 2.94%, comprising of LIBOR of 0.19% plus a margin of 2.75%. The new credit facility replaces a previous credit facility, comprised of an outstanding $82.4 million term loan and an undrawn $40 million revolver. The applicable LIBOR interest rate for the previous term loan was 6.75%, comprising of a LIBOR floor of 1.50% plus a margin of 5.25%. Post-closing, the company had a $25 million term loan outstanding, in addition to $15 million of borrowings on the revolving credit facility.
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Administration Group, Residential Mortgage Banking, BlackRock, and Non-Planned Assets Portfolio. The Retail Banking segment offers deposit, lending, brokerage, investment administration, and cash administration services to consumer and small business customers through branch network, ATMs, call centers, online banking, and mobile channels.
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