On Tuesday, H & R Block Inc (NYSE:HRB)’s shares declined -0.11% to $35.74.
H&R Block, Inc. (HRB), the world’s largest consumer tax services provider, declared recently that its wholly owned partner, Block Financial LLC, reached a new five-year, $2.0 billion Credit and Guarantee Agreement.
The execution of this Agreement satisfies a condition of the company’s formerly declared tender offer to purchase up to $1.5 billion of its common stock. The tender offer, however, remains subject to the other conditions described in the Offer to Purchase, dated September 2, 2015. The tender offer will expire at 5:00 P.M., New York City time, on Friday, October 2, 2015, unless the company extends the tender offer.
The Agreement matures on September 21, 2020, unless extended following the terms of the Agreement, and contains customary representations, warranties, covenants, and events of default. The Agreement also contains financial covenants comprising of: (1) a covenant requiring the company to maintain a debt-to-EBITDA ratio calculated on a merged basis of no greater than 3.5 to 1.0 as of the last day of each fiscal quarter ending on April 30, July 31 and October 31 of each year and 4.5 to 1.0 as of the last day of the fiscal quarter ending on January 31 of each year; and (2) a covenant requiring the company to maintain an interest coverage (EBITDA-to-interest expense) ratio calculated on a merged basis of not less than 2.5 to 1.0 as of the last day of any fiscal quarter. The company intends to borrow amounts under the new credit facility from time to time in the future, rather than issuing commercial paper, to support the company’s working capital needs or for other general corporate purposes.
H&R Block, Inc., through its auxiliaries, provides tax preparation, banking, and other services to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees; and online tax services, such as tax advice, professional and do-it-yourself (DIY) tax return preparation, and electronic filing services through its Website hrblock.com.
Comcast Corporation (NASDAQ:CMCSK)’s shares dropped -0.43% to $58.03.
In celebration of the World Meeting of Families – Philadelphia 2015 and the historic visit of Pope Francis to Philadelphia, Comcast recently unveiled Eternally Rome, a new 13-minute show presented on “The Comcast Experience” video wall in the Comcast Center lobby.
Eternally Rome is a visual celebration of the ancient, beautiful city, shot using stunning high-resolution cinematography and featuring breathtaking views of some of Rome’s most iconic landmarks, counting the Colosseum, Pantheon, The Roman Forum, St. Peter’s Square and Vatican City.
Brian L. Roberts, Chairman and CEO of Comcast, and Archbishop Charles J. Chaput of the Archdiocese of Philadelphia, presented the show recently to several hundred guests in the Comcast Center lobby.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Netoperates, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name.
At the end of Tuesday’s trade, New Residential Investment Corp (NYSE:NRZ)‘s shares surged 0.66% to $14.53.
New Residential Investment Corp. (NYSE:NRZ) declared the appointment of Nicola Santoro, Jr. as the Company’s new Chief Financial Officer.
Mr. Santoro joins New Residential from FXCM Inc., where he was the Chief Accounting Officer, overseeing the firm’s global financial reporting, tax and financial planning. Proceeding to his role at FXCM Inc., he was the Chief Financial Officer of Financial Guaranty Insurance Company. Mr. Santoro is a registered Certified Public Accountant.
Mr. Santoro succeeds Jonathan Brown, who has served as New Residential’s Interim Chief Financial Officer since October 2014. Mr. Brown will remain at New Residential and continue his role as Chief Accounting Officer.
In addition, New Residential’s Board of Directors declared a quarterly dividend of $0.46 per common share for the third quarter of 2015, up from $0.45 per common share in the second quarter of 2015. The dividend is payable on October 30, 2015 to shareholders of record on October 5, 2015.
New Residential Investment Corp., a real estate investment trust (REIT), focuses on investing in and managing residential mortgage related assets. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments.
Oi SA (ADR) (NYSE:OIBR), ended its Tuesday’s trading session with -5.82% loss, and closed at $0.800.
Oi S.A. (OIBR), informs there is no discussion in progress about the restructuring of its debt and that it has not hired any banks to assist it in this subject.
NM Rothschild & Sons (Brasil) Ltda. has been hired to carry out an assessment work for the optimization of the use of the resources derived from the sale of PT Portugal SGPS S.A., with the purpose of extending the maturities and improving the Company’s debt profile.
Oi S.A. provides integrated telecommunication services for residential customers and governmental agencies, in addition to small, medium, and large companies in Brazil. It offers fixed-line voice services, such as installation, monthly subscription, metered services, collect calls, and supplemental local services; domestic and international long-distance services; broadband Internet access services; subscription television services; and bundled services, in addition to owns and operates public telephones.
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