On Wednesday, Duke Realty Corp (NYSE:DRE)’s shares dwindled -1.44%, and closed at $21.20, as Duke Realty Corp (DRE), declared that its operating partnership, Duke Realty Limited Partnership (“Duke Realty”), has determined pricing of its formerly declared tender offer (the “Tender Offer”) to purchase for cash for a combined aggregate purchase price (exclusive of accrued and unpaid interest) of up to $500,000,000 (the “Maximum Tender Amount”) its 8.25% Senior Notes due 2019 (CUSIP No.: 26441YAT4) (the “2019 Notes”), its 5.95% Senior Notes due 2017 (CUSIP No.: 26441YAM9) (the “2017 Notes”), its 6.75% Senior Notes due 2020 (CUSIP No.: 26441YAU1) (the “2020 Notes”), its 6.50% Senior Notes due 2018 (CUSIP No.: 26441YAQ0) (the “2018 Notes”) and its 4.375% Senior Notes due 2022 (CUSIP No.: 26441YAV9) (the “2022 Notes”). The 2019 Notes, the 2017 Notes, the 2020 Notes, the 2018 Notes and the 2022 Notes are referred to collectively as the “Securities.” In addition, no more than $175.0 million aggregate principal amount of the 2017 Notes will be purchased (the “2017 Tender Cap”).
Duke Realty Corporation operates as a real estate investment trust (REIT) in the United States. It offers leasing, property and asset administration, development, construction, build-to-suit, and other tenant-related services. As of December 31, 2006, Duke Realty owned about 721 industrial, office, and retail properties comprising 113.8 million rentable square feet, in addition to owned 6,400 acres of unencumbered land for development.
Apollo Education Group Inc (NASDAQ:APOL)’s shares dropped -1.42%, and settled at $17.75, during the last trading session on Wednesday, after Carnegie Learning, Inc., a partner of Apollo Education Group, Inc. (NASDAQ: APOL), declared that the Florida State Board of Education has approved Carnegie Learning’s middle school and Algebra I programs for use across the state. These programs comprise Carnegie Learning’s Middle School Math Series Courses 1, 2, and Pre-Algebra for grades 6-8, as well as its Algebra I program, which may be used in both middle and high schools. The approved Carnegie Learning programs meet all Mathematics Florida Standards and are now accessible right away to all Florida middle and high schools.
“A sound foundation in mathematics is a critical element for students preparing to meet the challenges of our 21st century workforce,” said Erin Simmons, chief operating officer at Carnegie Learning. “We are proud to assist bring Carnegie Learning’s blended math curricula into classrooms across Florida to provide students with a learning environment that will assist them build and grow their math skills.”
Apollo Education Group, Inc. provides private education services. It offers online and on-campus undergraduate, graduate, professional development, and other non-degree educational programs and services primarily to working learners in the United States and internationally. The corporation operates in University of Phoenix, Apollo Global, and Other segments.
At the end of Wednesday’s trade, Windstream Holdings, Inc (NASDAQ:WIN)’s shares dipped -1.38%, and closed at $7.88, after Communications Sales & Leasing, Inc. (“CS&L” or the “Corporation”) and CSL Capital, LLC (the “Co-Issuer” and, together with CS&L, the “Issuers”) declared the planned offering, subject to market and other conditions, of about $540 million aggregate principal amount of senior secured notes (the “Secured Notes”) and $1.11 billion aggregate principal amount of senior unsecured notes (the “Senior Notes” and, together with the Secured Notes, the “Notes”). The Notes are being offered for sale by certain selling security holders that intend to attain such Notes from the Issuers’ parent, Windstream Services, LLC (“Windstream Services”), in exchange for debt of Windstream Services that such selling security holders will attain.
The Issuers intend to initially issue all of the Notes to Windstream Services as partial consideration for the contribution of select telecommunications network assets, counting fiber and copper networks and other real estate, of Windstream Holdings, Inc. (WIN) (“Parent”), the parent of Windstream Services, and its auxiliaries to CS&L and its auxiliaries, in anticipation of Parent’s projected pro rata distribution of at least 80.1% of the shares of ordinary stock of CS&L (the “Spin-Off”) to the Parent’s shareholders. The Spin-Off is more fully described in CS&L’s Information Statement on Form 10 filed by CS&L with the Securities and Exchange Commission (the “SEC”) on March 26, 2015.
Windstream Holdings, Inc. provides communications and technology solutions in the United States. It offers managed services and cloud computing services to businesses, in addition to broadband, voice, and video services to consumers primarily in rural markets. The corporations primary business service offerings comprise integrated voice and data services, multi-site networking, data center services, managed services, high-speed Internet, and voice services.
FMSA Holdings Inc (NYSE:FMSA), ended its Wednesday’s trading session with -0.77% loss, and closed at $7.70, formerly on March 23, FMSA Holdings Inc (FMSA), stated results for the fourth quarter and full year ended December 31, 2014.
Fourth-Quarter 2014 Results:
For the fourth quarter, net revenue was $37.9 million, or $0.23 per diluted share, contrast with net revenue of $10.7 million, or $0.06 per diluted share, for the same period a year ago. Adjusted earnings per diluted share were $0.24, a raise of 118% over adjusted earnings per diluted share of $0.11 for the fourth quarter of 2013. The raise in earnings was primarily due to a 14% raise in raw sand sales volumes and a 44% raise in value-added coated product sales volumes. The quarterly and full-year comparisons of net revenue and earnings per share were influenced by a number of non-operating charges in both periods, which are offered in the accorporationing table. Adjusted EBITDA for the fourth quarter was $100.4 million, up 56% over fourth-quarter 2013 adjusted EBITDA of $64.1 million.
Full-Year 2014 Results:
For full-year 2014, net revenue was $170.4 million, or $1.03 per diluted share, contrast with net revenue of $104.0 million, or $0.63 per diluted share, for the preceding year. Adjusted earnings per diluted share were $1.07, a raise of 43% over adjusted earnings per diluted share of $0.75 for 2013. The raise was driven by the raise in sales volumes for coated products and an raise in sales volumes and selling prices for raw sand, partially offset by higher SG&A costs, counting additional costs to support sales and marketing for the Proppant Solutions segment, IPO and public corporation-related costs, expenditures to enhance the corporation’s logistics capabilities, and costs to support the growth of the business. Adjusted EBITDA for 2014 was $397.3 million, up 36% over 2013 adjusted EBITDA of $292.6 million. Adjusted EBITDA for 2014 was negatively influenced by $3 million of bad debt and litigation reserves that were not anticipated when the corporation offered full-year adjusted EBITDA guidance of $390 million to $395 million.
FMSA Holdings Inc., together with its auxiliaries, provides sand-based proppant solutions for exploration and production companies to enhance the productivity of their oil and gas wells. It operates in two segments, Proppant Solutions and Industrial & Recreational (I&R) Products. The Proppant Solutions segment primarily provides sand-based proppants for use in hydraulic fracturing operations in the United States, Canada, Argentina, Mexico, China, northern Europe, and the United Arab Emirates.
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