During Friday’s Afternoon trade, Shares of Santander Consumer USA Holdings Inc (NYSE:SC), gain 0.78% to $26.00.
Santander Consumer USA Holdings Inc (SC) declared a broad reorganization of its Board of Directors, counting the appointment of four new independent SHUSA directors and the creation of the position of Lead Independent Director.
The new independent SHUSA directors will be Alan Fishman, Chairman of Ladder Capital; Thomas S. Johnson, former Chairman and CEO of GreenPoint Capital; Catherine Keating, CEO of Commonfund; and Richard Spillenkothen, former head of banking supervision at the Federal Reserve Board and former director of Deloitte & Touche LLP.
The new independent SHUSA directors will be Alan Fishman, Chairman of Ladder Capital; Thomas S. Johnson, former Chairman and CEO of GreenPoint Capital; Catherine Keating, CEO of Commonfund; and Richard Spillenkothen, former head of banking supervision at the Federal Reserve Board and former director of Deloitte & Touche LLP.
Santander Consumer USA Holdings Inc., a specialized consumer finance company, provides vehicle finance and unsecured consumer lending products in the United States. The company’s vehicle finance products and services comprise retail installment contracts, vehicle leases, and dealer loans.
Shares of United Parcel Service, Inc. (NYSE:UPS), inclined 0.40% to $99.39, during its Afternoon trading session.
UPS (UPS) declared the induction of 26 Canadian drivers into its elite “Circle of Honor.” The group, in a class by themselves, has achieved 25 years of safe driving.
Collectively, the 7,878 worldwide UPS drivers have logged more than 8.5 billion kilometers and more than 221,000 years of safe driving through their careers. That’s enough kilometers to travel to Mars and back 36 times.
In addition to the new inductees, UPS Canada drivers Robert Avis, Doug Coxon, and Karl Peter reached a milestone of 38 years of safe driving. All three drivers have been recognized as Canada’s longest serving employees and members of the prestigious Circle of Honor who have delivered millions of packages throughout their career with no-at-fault accidents.
UPS drivers worldwide are among the safest on the roads, logging more than 4.8 billion kilometers per year and delivering more than 4 billion packages safely. Before ever making a delivery, all UPS drivers are taught safe driving methods through the company’s defensive driving platform and the training continues throughout their careers.
Collectively, the 7,878 worldwide UPS drivers have logged more than 8.5 billion kilometers and more than 221,000 years of safe driving through their careers. That’s enough kilometers to travel to Mars and back 36 times.
In addition to the new inductees, UPS Canada drivers Robert Avis, Doug Coxon, and Karl Peter reached a milestone of 38 years of safe driving. All three drivers have been recognized as Canada’s longest serving employees and members of the prestigious Circle of Honor who have delivered millions of packages throughout their career with no-at-fault accidents.
UPS drivers worldwide are among the safest on the roads, logging more than 4.8 billion kilometers per year and delivering more than 4 billion packages safely. Before ever making a delivery, all UPS drivers are taught safe driving methods through the company’s defensive driving platform and the training continues throughout their careers.
Key Energy Services, Inc. (NYSE:KEG), during its Friday’s Afternoon trading session decreased -3.02% to $1.93.
Key Energy Services, Inc. (KEG) declared that it has closed a $100 million asset-based revolving credit facility (“ABL”) due February 2020 and closed and funded a $315 million term loan facility due June 2020 (together, the “Facilities”). The Facilities replace Key’s existing $400 million senior revolving credit facility.
The Facilities do not have cash flow based financial maintenance covenants; however, the Facilities require Key to maintain $100 million in liquidity, counting cash and availability under the ABL. Upon closing, Key had $270.6 million of liquidity, assuming the completion of certain post-closing collateral perfection requirements. The Facilities also require Key to maintain the ratio of the net orderly liquidation value of its assets and certain term loan proceeds to term loan borrowings of 1.5x. As of the date of closing, this ratio was 2.15x. The ABL also comprises a fixed charge coverage ratio of 1.0x, which is tested only if excess availability under the ABL falls below a specified threshold or upon the occurrence of certain other events. The term loan was issued at an OID of 3.0% with an annual rate of LIBOR plus 9.25% with a 1.00% LIBOR floor. The ABL bears interest at an annual rate on outstanding borrowings of LIBOR plus 4.5%, with a fee on unused commitments ranging from 1.00% - 1.25% based on utilization. Key plans to file copies of the Facilities with the U.S. Securities and Exchange Commission as exhibits to a Current Report on Form 8-K, and reference should be made to the Facilities for a complete description of their terms.
Bank of America Merrill Lynch acted as the Sole Lead Arranger of the term loan facility and Bank of America Merrill Lynch and Wells Fargo acted as Joint Lead Arrangers on the ABL.
Key Energy Services, Inc. operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
Finally, New Senior Investment Group Inc (NYSE:SNR), decreased -0.29%, to $13.66.
New Senior Investment Group Inc. (SNR) declared the pricing of a public offering of 17,500,000 shares of its common stock at a public offering price of $13.75 per share for gross proceeds of about $241 million. The offering is predictable to close on June 29, 2015, subject to customary closing conditions.
In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of common stock from the Company.
The Company intends to use the net proceeds from the offering to fund a portion of the purchase price for a $640 million portfolio of independent living senior housing properties, which the Company entered into a contract to purchase on June 22, 2015, and for general corporate purposes, which may comprise, but are not limited to, funding additional acquisitions.
New Senior Investment Group Inc. (NYSE:SNR.WI) operates independently of Newcastle Investment Corp. as of November 6, 2014.
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.
