On Wednesday, Shares of SandRidge Energy Inc. (NYSE:SD), lost -5.10% to $0.484.
SandRidge Energy declared that the Company has reached privately negotiated purchase and exchange agreements under which it will repurchase $250 million aggregate principal amount of its senior unsecured notes for $94.5 million cash and exchange $275 million of notes into new convertible notes.
James Bennett, President and CEO, commented, “We are very happy with the execution of this transaction and its effect on the Company’s financial position. This represents a noteworthy first step in reducing SandRidge’s debt and improving our balance sheet. In this transaction we addressed $525 million of senior unsecured debt, by repurchasing senior unsecured notes at a substantial discount to face value, also right away eliminating about $19 million in annual interest expense, and modifying additional outstanding debt to convert into equity at a noteworthypremium to the current share price.”
Specifically, the Company will repurchase $29.3 million aggregate principal amount of its 8.75% Senior Notes due 2020, $111.6 million aggregate principal amount of its 7.5% Senior Notes due 2021, $26.1 million aggregate principal amount of its 8.125% Senior Notes due 2022, and $83.0 million aggregate principal amount of its 7.5% Senior Notes due 2023 for an aggregate of $94.5 million in cash.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Shares of Time Warner Inc (NYSE:TWX), declined -1.52% to $77.81, during its last trading session.
Time Warner Inc., declared that Priya Dogra has been named Senior Vice President, Mergers and Acquisitions. In this role, Ms. Dogra will oversee Time Warner’s global mergers and acquisitions efforts to progress the Company’s long-term corporate strategies and assist define capital allocation precedingities.
In announcing Ms. Dogra’s appointment, Mr. Averill said: “We are thrilled that Priya will now lead our M&A group. She has been instrumental in originating, evaluating, and executing critically important transactions across the Company. Given her deep understanding of the industry, strong transaction execution skills and collaborative nature, we couldn’t hope for a more effective leader for this group.”
Ms. Dogra joined Time Warner in 2009 as a Director in the Mergers and Acquisitions group, and became the group’s Vice President three years later. In this role, she worked closely with Time Warner’s divisions and served as the primary corporate liaison for divisional corporate development functions counting the acquisition of content assets and television networks internationally in addition to investments in digital media and over the top assets across the Company.
Preceding to joining Time Warner, Ms. Dogra was a Vice President in the Technology, Media and Telecom investment banking group at Citigroup where she spent seven years based out of the New York, London and Toronto offices covering numerous clients such as Time Warner, Sony, Discovery and Bertelsmann, and advising on a broad range of transactions counting acquisitions, divestitures and financings.
Time Warner Inc. operates as a media and entertainment company in the United States and internationally. It operates through three segments: Turner, Home Box Office, and Warner Bros.
Finally, Keysight Technologies Inc (NYSE:KEYS), ended its last trade with -1.50% loss, and closed at $29.55.
Keysight Technologies, stated revenues of $665 million for the third fiscal quarter ended July 31, 2015, down 12 percent contrast with one year ago, or down 9 percent not taking into account the impact of currency and acquisitions.
Third-quarter non-GAAP net income was $94 million, or $0.55 per share, which excludes GAAP to non-GAAP adjustments of $24 million. Third-quarter GAAP net income was $70 million, or $0.41 per share.
“We delivered solid profit performance in the third quarter despite a challenging market environment,” said Ron Nersesian, Keysight president and CEO.
Keysight Technologies, Inc. provides electronic measurement solutions to the communications and electronics industries in the United States and internationally. It operates through two segments: Measurement Solutions, and Customer Support and Services.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
