On Thursday, Shares of Frontier Communications Corporation (NASDAQ:FTR), gained 1.10% to $5.51.
Frontier Communications Corporation declared that it intends to offer, in a private transaction, up to $6.6 billion aggregate principal amount of Senior Notes.
Frontier intends to use the proceeds from the offering to finance a portion of the cash consideration payable in connection with its formerly declared acquisition of the wireline properties of Verizon Communications Inc. in California, Florida and Texas and to pay related fees and expenses. The acquisition is predictable to close by the end of the first quarter of 2016. The net proceeds of the offering will be deposited in an escrow account to partially fund the acquisition or, if the acquisition is terminated or otherwise not consummated on or before August 6, 2016, to redeem the Notes at par plus accrued interest.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of Mondelez International, Inc. (NASDAQ:MDLZ), inclined 0.93% to $42.38, during its last trading session.
At the Barclays Global Consumer Staples conference, Mondelēz International updated investors on aggressive cost-reduction programs and outlined how the company is increasing investments to accelerate revenue growth.
“As the world’s leading snacking company, we’re proud to be one of few industry players with the assets, leadership and strategy to deliver strong top- and bottom-line growth over the long term. This is our point of difference,” said Brian Gladden, Executive Vice President and CFO. “Our advantaged platform provides us the potential to be among the industry’s fastest growing companies, with substantial margin upside and the highest EPS growth while also returning noteworthy cash to our shareholders.”
Reinventing the Global Supply Chain and Delivering World-Class Productivity
Gladden offered an update on the company’s journey to reinvent its global supply chain, which is now delivering world-class productivity of more than 3 percent of cost of goods sold.
In addition, Gladden highlighted the company’s efforts to reconfigure its manufacturing network. Since 2012, Mondelēz International has closed, sold or streamlined 78 production facilities, and accomplished or declared the construction of 14 greenfield or brownfield sites, with 40 new state-of-the-art manufacturing lines predictable to be on-stream by year-end 2015.
Mondelez International, Inc., through its auxiliaries, manufactures and markets snack food and beverage products worldwide. The company offers biscuits, counting cookies, crackers, and salted snacks; chocolates, and gums and candies; powdered beverages and coffee; and cheese and grocery products.
Finally, CSX Corp. (NYSE:CSX), ended its last trade with 0.76% gain, and closed at $28.02.
CSX Corporation, one of America’s premier transportation companies, has agreed to donate 130 acres of undeveloped land in southwestern Pennsylvania to the September 11th National Memorial Trail Alliance, a not-for-profit organization formed to establish a memorial trail to link the memorial sites at the World Trade Center, the Pentagon and the Flight 93 National Memorial. The donation provides land that will assist the alliance build a 7-mile portion of an off-road multipurpose trail between the Great Alleghany Passage Trail in Garrett, Penn., and the Flight 93 Memorial in Shanksville, Penn.
David G. Brickley, president of the September 11th National Memorial Trail Alliance, said, “The Alliance thanks CSX for its outstanding support in this national trail initiative and for the commitment its employees share to honoring the Heroes of September 11, 2001, and the communities in which the victims, their families and first responders lived and worked. CSX’s generosity has been critical to our ability to complete this key segment of the September 11th National Memorial Trail to the Flight 93 Memorial in Pennsylvania and considerably strengthens our ability to maintain it for those who will enjoy and learn from the Trail for generations to come.”
CSX Corporation, together with its auxiliaries, provides rail-based transportation services in the United States and Canada. It offers traditional rail services, and transports intermodal containers and trailers.
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