During Tuesday’s Morning trade, Shares of FS Investment Corporation (NYSE:FSIC), gained 0.33% to $9.21.
Franklin Square Capital Partners, the largest manager of business development companies (BDCs), declared the origination of a new senior secured loan to Pittsburgh Glass Works, LLC (PGW), a leading North American manufacturer, supplier and distributor of automotive glass products.
PGW is a portfolio company of Kohlberg & Co (Kohlberg), a New York-based private equity firm focused on the middle market. The financing was offered by FS Investment Corporation (FSIC), FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), BDCs managed by associates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Administration LLC, an associate of GSO Capital Partners LP (GSO).
“We are happy to provide a customized credit solution to a leader in the automotive glass industry like Pittsburgh Glass Works,” said Michael C. Forman, Chairman and Chief Executive Officer of FSIC, FSIC II and FSIC III.
FS Investment Corporation is a non-diversified, closed-end administration investment company. The Company’s investment objectives are to generate current income and a long-term capital appreciation. Its portfolio comprises of investments in senior secured loans and second lien secured loans of private middle market United States companies and subordinated loans of private United States companies.
Shares of Automatic Data Processing (NASDAQ:ADP), inclined 1.63% to $87.13, during its current trading session.
Private sector employment in France reduced by 4,600 jobs from October to November according to the November ADP®France National Employment Report. Broadly distributed to the public each month, free of charge, the ADP France National Employment Report is produced by ADP Research Institute® in partnership with Moody’s Analytics. The report, which is derived from actual headcount data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
November 2015 Report Highlights
Total France Nonfarm Private Employment: -4,600
Industry Snapshot
Manufacturing -6,500
Trade +5,300
Financial Services +1,000
Business Services -5,100
Transportation +400
Real Estate +500
“The trade sector was a bright spot for employment gains in November,” said Ahu Yildirmaz, head of the ADP Research Institute. “Strengthening retail sales driven by raised household consumption and low oil prices are among the prime factors contributing to growth in this sector.”
Automatic Data Processing, Inc., together with its auxiliaries, provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services.
Finally, PVH Corp (NYSE:PVH), gained 2.33%, and is now trading at $74.62.
Tommy Hilfiger, which is owned by PVH Corp. [NYSE: PVH], declares that internationally renowned supermodel Gigi Hadid will appear as the brand ambassador for Tommy Hilfiger women’s starting Fall 2016, building on the new vision and planned expansion of the brand’s global women’s business. As part of her exclusive ambassadorship, Hadid has partnered with Tommy Hilfiger to launch her first capsule collection, created in partnershipwith the iconic American designer. Launching in Fall 2016, the capsule will feature women’s sportswear, footwear and accessories, counting watches and sunglasses, in addition to a new fragrance, which celebrate Hadid’s unique take on modern style, fused with Hilfiger’s signature “classic American cool” heritage.
“I’ve known Gigi and her family for years, and it has been amazing to watch her grow into one of the world’s top models and most-followed fashion influencers,” said Tommy Hilfiger. “Gigi has walked in our runway shows and now we are thrilled to continue our partnership with her as the new face of Tommy Hilfiger womens wear and fragrance. She is truly the definition of recently’s ‘Tommy Girl’ – her magnetic personality is bright and always optimistic, and her style is confident, effortless and cool.”
Hadid’s ambassadorship reflects the company’s planned commitment to expanding its women’s businesses globally; while already a noteworthy contributor to global revenues, there is a strong potential for additional growth across all women’s categories. The expansion strategy encompasses design direction, store design, merchandising, presentation and communication to present a fresh new vision for Tommy Hilfiger women swear, reinforcing the brand’s credentials as the world’s leading accessible designer brand that offers stylish classics with a playful fashion edge.
PVH Corp. operates as an apparel company in the United States and internationally. It designs, markets, and retails men’s and women’s apparel and accessories, branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, golf apparel, fragrances, cosmetics, eyewear, hosiery, socks, jewelry, watches, outerwear, small leather goods, and home furnishings, in addition to other related products.
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