During Monday’s Current trade, Shares of Berry Plastics Group Inc (NYSE:BERY), lost -1.66% to $33.11.
Berry Plastics Group, Inc. (BERY) declared that Berry Plastics Corporation (the “Issuer”), Berry Group’s wholly owned partner, has accomplished its tender offer (the “Tender Offer”) to purchase any and all of its outstanding 9.75 percent Second Priority Senior Secured Notes due 2021 issued under an indenture dated as of November 19, 2010 (the “Notes”).
The Tender Offer expired on June 18, 2015 (the “Expiration Date”). No additional Notes were tendered after the expiration of the consent payment deadline on June 4, 2015, at 5:00 p.m., New York City time (the “Consent Date”) and before the Expiration Date. As formerly declared, the Issuer received tenders from holders of $503,186,000 aggregate principal amount of Notes, representing 62.90 percent of the then outstanding Notes. On June 5, 2015, the Issuer accepted for early payment the Notes tendered prior to the Consent Date.
Berry Plastics Group, Inc. manufactures and distributes plastic consumer packaging and engineered materials in North America and internationally. The company operates through four segments: Rigid Open Top, Rigid Closed Top, Engineered Materials, and Flexible Packaging. It offers rigid packaging products, counting containers; foodservice items, which comprise thermoformed polypropylene and injection-molded plastic drink cups; closures and overcaps; bottle and prescription containers, such as polyethylene and polyethylene terephthalate bottles, in addition to decorated bottles; and tubes.
Shares of Heico Corp (NYSE:HEI), declined -0.39% to $59.51, during its current trading session.
Dukane Seacom (HEICO) has created the first FAA and EASA certified 90 day underwater locator beacon (ULB) that complies with TSO-C121b & TSO-C142a and ETSO-C121b & ETSO-C142a. Dukane Seacom is the world’s largest supplier of ULB devices to the commercial and military aviation markets.
The new 90 Day operational requirements go into effect on December 1, 2015. In addition to surpassing this longer operational requirement, the DK120/90 also offers a 7 year battery replacement cycle. This longer battery life is one year longer than that offered by our existing 30 Day ULB’s and better aligns with recorder and aircraft maintenance cycles. These ULBs have been extensively tested to verify compliance to all primary cell lithium battery safety requirements counting FAA and EASA approvals. An exchange program is offered for airlines who would like to convert from 30 day beacons to 90 day beacons through Dukane Seacom’s distribution partner, Seal Dynamics.
HEICO Corporation, through its auxiliaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company’s Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.
Midstates Petroleum Company Inc (NYSE:MPO), during its Monday’s current trading session gained 2.21% to $1.01.
Midstates Petroleum Company, Inc. (MPO) and its wholly owned partner Midstates Petroleum Company LLC (together with the Company, the “Issuers”) issued about $20 million in aggregate principal amount of Senior Secured Third Lien Notes (the “Additional Notes”) in a private placement in exchange for $26.547 million of the Issuers’ 10.75% Senior Unsecured Notes due 2020 and $2.025 million of the Issuers’ 9.25% Senior Unsecured Notes due 2021 (the “Exchange”).
The Additional Notes were issued under and are governed by an indenture dated May 21, 2015 (the “Third Lien Indenture”), among the Issuers and Wilmington Trust, National Association, as trustee (the “Trustee”). The Issuers entered into the Third Lien Indenture in connection with their issuance of $504.1 million in aggregate principal amount of Senior Secured Third Lien Notes (the “Initial Notes” and, together with the Additional Notes, the “Third Lien Notes”) on May 21, 2015. The Third Lien Indenture governs both the Additional Notes and the Initial Notes.
The Additional Notes will be initially secured by third-priority liens on substantially all of the Issuers’ assets that secure the Initial Notes and the Issuers’ existing Senior Secured Second Lien Notes due 2020 (the “Second Lien Notes”). The Third Lien Notes will have an interest rate of 12%, comprising of cash interest of 10% and paid-in-kind interest of 2% per annum and will mature on the earlier of June 1, 2020 and 12 months after the maturity date of the Company’s revolving credit facility (counting any extension or refinancing of such facility). The Third Lien Indenture contains customary terms, events of default and covenants relating to, among other things, the incurrence of debt, the payment of dividends or similar restricted payments, undertaking transactions with the Company’s unrestricted associates and limitations on asset sales. Indebtedness under the Additional Notes may be accelerated in certain circumstances upon an event of default as set forth in the Third Lien Indenture.
Midstates Petroleum Company, Inc. engages in the exploration, development, and production of oil, natural gas liquids, and natural gas in the United States. It primarily focuses on oilfields in the Mississippian Lime trend in northwestern Oklahoma; the Anadarko Basin in Texas and Oklahoma; and the Upper Gulf Coast Tertiary trend in central Louisiana.
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