On Monday, Range Resources Corp. (NYSE:RRC)’s shares declined -0.79% to $54.97.
Range Resources Corp. (RRC) declared that its Board of Directors declared a quarterly cash dividend on its common stock for the second quarter. A dividend of $0.04 per common share is payable on June 30, 2015 to stockholders of record at the close of business on June 16, 2015.
Range Resources Corporation, an independent natural gas, natural gas liquids (NGLs), and oil company, engages in the acquisition, exploration, and development of natural gas and oil properties in the United States. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Midcontinent regions.
ITC Holdings Corp. (NYSE:ITC)’s shares gained 0.26% to $35.38.
ITC Holdings Corp. (ITC) a wholly-owned partner of ITC Holdings Corp., the largest independent electricity transmission company in the United States, recently declared it has filed a major permit application with the U.S. Department of Energy (DOE) for the ITC Lake Erie Connector merchant transmission line. The purpose of the DOE filing is to obtain the Presidential Permit necessary for international border-crossing projects.
The ITC Lake Erie Connector is a projected 1000 MW, bi-directional, High-Voltage Direct Current (HVDC) merchant transmission line that will provide the first direct link between the markets of the Ontario Independent Electricity System Operator (IESO) and PJM Interconnection, LLC (PJM). The ITC Lake Erie Connector will enable transmission customers to more efficiently access energy, capacity, and renewable energy credit opportunities in both markets.
ITC Holdings Corp., together with its auxiliaries, engages in the transmission of electricity in the United States. The company functions as conduit, allowing for power from generators to be transmitted to local distribution systems through its own systems or in conjunction with neighboring transmission systems.
At the end of Monday’s trade, Planned Hotels and Resorts Inc (NYSE:BEE)‘s shares surged 1.99% to $12.32.
Planned Hotels and Resorts Inc (BEE) declared that it has closed a new $750.0 million unsecured credit facility with an accordion feature allowing for additional borrowing capacity up to $1.0 billion. The new facility is comprised of a $450.0 million unsecured revolving credit facility and a $300.0 million unsecured term loan. The new facility replaces a $300.0 million stock secured revolving credit facility.
The new revolving credit facility’s interest rate is based upon a leverage-based pricing grid ranging from LIBOR plus 165 basis points to LIBOR plus 240 basis points. Initial pricing will be LIBOR plus 165 basis points, which is a reduction from the previous facility’s pricing of LIBOR plus 200 basis points. The new term loan’s interest rate is also based upon a leveraged based pricing grid ranging from LIBOR plus 160 basis points to LIBOR plus 235 basis points. Initial pricing will be LIBOR plus 160 basis points. At closing, the Company has $80.0 million outstanding on the revolving credit facility in addition to the $300.0 million funded unsecured term loan. The combined unsecured facility has a five-year term and will mature in May 2020.
Planned Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts. The firm was formerly known as Planned Hotel Capital Inc. Planned Hotels & Resorts, Inc was founded in 1997 and is based in Chicago, Illinois.
Infinera Corp. (NASDAQ:INFN), ended its Monday’s trading session with 2.08% gain, and closed at $21.07.
Infinera Corp. (INFN) provider of Intelligent Transport Networks, declared that it will take part in the following webcasted investment community event:
William Blair & Company 2015 Growth Stock Conference - Chicago, IL
Date: Tuesday, June 9, 2015
Infinera Corporation provides optical transport networking equipment, software, and services for telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions, and government entities worldwide.
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