On Monday, International Paper Co (NYSE:IP)’s shares declined -0.02% to $51.82.
International Paper Co (IP) declared the U.S. Treasury reference security yield to maturity for its formerly declared cash tender offer (the “Tender Offer”) for up to $750 million combined aggregate principal amount, which the Company has raised by $250 million to up to $1.0 billion combined aggregate principal amount (the “Tender Cap”) of its outstanding 7.500% Notes due 2021 (the “7.500% Notes”), 7.950% Notes due 2018 (the “7.950% Notes”), 9.375% Notes due 2019 (the “9.375% Notes”) and 4.750% Notes due 2022 (the “4.750% Notes”) and the outstanding 6.625% Notes due 2018 of Temple-Inland, Inc., a wholly-owned partner of the company, which notes are guaranteed by the company (the “6.625% Notes” and, together with the 7.500% Notes, the 7.950% Notes, the 9.375% Notes and the 4.750% Notes, the “Notes”).
The formerly declared expiration of withdrawal rights for the Tender Offer of 5:00 p.m., New York City time, on May 28, 2015, will not be extended; therefore, formerly tendered Notes may not be withdrawn after such time and any Notes tendered after such time will not have withdrawal rights.
The Tender Offer is subject to the satisfaction or waiver of certain conditions set forth in the Offer to Purchase, dated May 14, 2015 (as may be amended or supplemented from time to time, the “Offer to Purchase”). The condition that International Paper has obtained proceeds from a public offering of senior debt securities in an amount not less than the Tender Cap prior to the Early Tender Deadline has been satisfied.
International Paper Company operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging.
Maxim Integrated Products Inc. (NASDAQ:MXIM)’s shares dropped -1.14% to $34.67.
Maxim Integrated Products Inc. (MXIM) stated net revenue of $577 million for its third quarter of fiscal 2015 ended March 28, 2015, a 2% enhance from the $567 million revenue recorded in the preceding quarter, and a 5% decrease from the same quarter of last year.
Fiscal Year 2015 Third Quarter Results
Based on Generally Accepted Accounting Principles (GAAP), diluted earnings per share in the March quarter was $0.28. The results were affected by pre-tax special items which primarily comprised of $23 million in charges related to acquisitions and $17 million in charges related to restructuring activities. GAAP earnings per share, not taking into account special items was $0.40. An analysis of GAAP as compared to GAAP not taking into account special items is offered in the last table of this press release.
Maxim Integrated Products, Inc. designs, develops, manufactures, and markets various linear and mixed-signal integrated circuits worldwide. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs. It primarily serves automotive, communications and data center, computing, consumer, and industrial markets.
At the end of Monday’s trade, Wendys Co (NASDAQ:WEN)‘s shares dipped -1.07% to $11.12.
Wendys Co (WEN) declared that one of its indirect, special purpose auxiliaries (the “Master Issuer”) has accomplished the sale of $875 million of its Series 2015-1 3.371% Fixed Rate Senior Secured Notes, Class A-2-I (the “Class A-2-I Notes”), $900 million of its Series 2015-1 4.080% Fixed Rate Senior Secured Notes, Class A-2-II (the “Class A-2-II Notes”), and $500 million of its Series 2015-1 4.497% Fixed Rate Senior Secured Notes, Class A-2-III (the “Class A-2-III Notes” and, together with the Class A-2-I Notes and the Class A-2-II Notes, the “Notes”). Interest payments on the Notes are payable on a quarterly basis. The legal final maturity date of the Notes is in June of 2045, but, unless earlier prepaid to the extent permitted under the indenture that governs the Notes, the anticipated repayment dates of the Class A-2-I Notes, the Class A-2-II Notes and the Class A-2-III Notes will be 4.25, 7 and 10 years, respectively. The Notes were issued by the Master Issuer in a privately placed securitization transaction.
The Master Issuer also reached a purchase agreement for the issuance of up to $150 million Series 2015-1 Class A-1 Notes, which will allow the Master Issuer to borrow amounts from time to time on a revolving basis.
The net proceeds from the sale of the Notes will be used for repayment of existing senior secured indebtedness, transaction costs associated with the refinancing, and general corporate purposes, counting the return of cash to shareholders.
The Wendy’s Company, through its auxiliaries, owns and franchises Wendy’s restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants. As of May 26, 2015, its restaurant system comprised of about 6,500 franchised and company-operated restaurants worldwide. The company was formerly known as Wendy’s/Arby’s Group, Inc. and changed its name to The Wendy’s Company in July 2011.
News Corp (NASDAQ:NWSA), ended its Monday’s trading session with 0.50% gain, and closed at $15.23.
Harlequin is a division of HarperCollins Publishers, itself a partner of News Corp (NWSA). Harlequin and HarperCollins Publishers recently declared the launch of Harlequin Audio, a new imprint that will produce audio versions of Harlequin titles. The imprint will release its first titles on June 30, 2015.
Harlequin Audio, in conjunction with HarperAudio, will work directly with digital audio distributors to provide full distribution to the retail and library markets. Furthermore, Harlequin Audio will distribute physical CD versions of all titles through relationships with Blackstone Audio and Midwest Tape.
In its first year, Harlequin Audio plans to release 200 titles, counting audios from bestselling authors Robyn Carr, Debbie Macomber, Shannon Stacey, Marie Force, Pam Jenoff and Maisey Yates. All titles will be accessible in the retail and library space.
News Corporation, a media and information services company, focuses on creating and distributing authoritative and engaging content to consumers and businesses worldwide. The company operates through News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Digital Education segments.
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