On Wednesday, Shares of Vale S.A. (NYSE:VALE), showed no change to $6.61.
Murilo Ferreira made the most of China’s latest Brazil tour.
The chief executive officer of iron-ore giant Vale SA signed four deals with Chinese counterparts during Tuesday’s visit by Premier Li Keqiang to Brasilia, counting a credit agreement worth as much as $4 billion. The Rio de Janeiro-based miner also scooped up $445 million from divesting four of its iron-ore ships and agreeing to sell four more carriers to a Chinese shipping firm. Shares ended a six-day losing streak, according to Bloomberg.
The accords come as Vale, the world’s largest iron-ore producer, seeks to boost cash as it faces a supply glut that sent prices for the steelmaking ingredient to the lowest in a decade in April. On May 15, the company said it agreed to terms on a $3 billion revolving loan with 24 banks for five years. Vale may get $2.1 billion by selling all of its giant Valemax ships at similar values, according to Banco Itau BBA SA. Bloomberg Reports.
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment produces and extracts iron ore and pellet.
Shares of Black Knight Financial Services Inc. (NYSE:BKFS), inclined 10.65% to $27.11, during its last trading session.
Black Knight Financial Services, declared the pricing of its initial public offering of 18,000,000 shares of Class A common stock at a price to the public of $24.50 per share. The Company has granted the underwriters a 30-day option to purchase up to 2,700,000 additional shares at the initial public offering price less underwriting discount and commissions. The Company’s Class A common stock started trading on the New York Stock Exchange under the symbol “BKFS” on May 20, 2015. The offering is predictable to close on May 26, 2015, subject to customary closing conditions.
The net proceeds from the initial public offering will be used to repay a portion of the Company’s outstanding debt, among other uses. Right away following the initial public offering, the Company will refinance the remaining indebtedness under its mirror notes and intercompany notes with new senior secured credit facilities to significantly reduce its interest expense.
J.P. Morgan Securities LLC, BofA Merrill Lynch and Wells Fargo Securities, LLC are acting as active bookrunning managers for the offering.
Black Knight Financial Services, a Fidelity National Financial (FNF) company, is the mortgage and finance industries’ leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
At the end of Wednesday’s trade, Shares of Cimarex Energy Co. (NYSE:XEC), gained 1.35% to $116.31.
Cimarex Energy, declared that it has priced a public offering of 6,000,000 shares of its common stock at a price to the public of $109.00 per share. Net proceeds from the offering are predictable to be used for general corporate purposes and to fund raised drilling and completion activity in the second half of 2015 and more significantly in 2016. Cimarex has also granted the underwriters an option to purchase up to an additional 900,000 shares of its common stock. The offering is predictable to close on or about May 26, 2015, subject to customary closing conditions.
.P. Morgan and Barclays are acting as joint book-running managers for the offering. The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the Securities and Exchange Commission’s website at www.sec.gov.
Cimarex Energy Co. operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. The company owns interests in 3,240 net productive oil and gas wells.
Finally, Turquoise Hill Resources Ltd. (NYSE:TRQ), ended its last trade with -0.22% loss, and closed at $4.50.
On May 19, Turquoise Hill Resources shares climbed following the settlement of a dispute between the Mongolian government and its mining partner Rio Tinto (RIO) that will allow the companies to resume the expansion of the copper and gold mine at Oyu Tolgoi.
Rio Tinto agreed to pay $30 million in taxes on the mine development deal per the terms of the agreement, down from the $127 million the Mongolian government was originally seeking.
Turquoise Hill holds a 66% stake in Oyu Tolgoi, but Rio Tinto controls the mining operations through its majority stake in Turquoise Hill.
Turquoise Hill Resources Ltd., together with its auxiliaries, operates as a mining company. Its principal material mineral resource property is the Oyu Tolgoi copper-gold mine located in the southern Mongolia.
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