On Friday, TECO Energy, Inc. (NYSE:TE)’s shares declined -0.95% to $17.80.
TECO Energy, Inc. (TE) through its partner has reached a non-binding letter of intent with a new buyer for selling all of its interest in TECO Coal LLC. Formerly, the company had been talking with Kentucky-based Cambrian Coal Corp. to sell the business. However, the sales agreement did not close on Jun 5, 2015 as the buyer failed to satisfy the terms of sale, which has rendered the agreement terminable by either party.
Under the sales agreement with Cambrian Coal Corp., total sales price was decided at $140 million, counting a future contingent consideration of $60 million, if certain coal benchmark prices reach specific levels over the next five years.
The transaction with the new buyer would be subject to the negotiation of a definitive agreement and third-party consents. Both parties expect to close the sale on or before Jul 3, 2015. The new buyer would not require external funding for the acquisition.
TECO Energy, Inc., an electric and gas utility holding company, engages in the regulated electric and gas utility operations. It generates purchases, transmits, distributes, and sells electric energy to retail customers, in addition to utilities and other resellers of electricity in West Central Florida; and has electric generating plants with a winter peak generating capacity of 4,668 megawatts.
Eclipse Resources Corp (NYSE:ECR)’s shares dropped -0.16% to $6.16.
Eclipse Resources Corp (ECR) declared that, subject to market conditions, it intends to offer $650 million in aggregate principal amount of senior unsecured notes due 2023 in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”).
The Company intends to use a portion of the net proceeds of the offering to finance the redemption of its outstanding 12.0% senior unsecured PIK notes due 2018. The Company intends to use the remaining net proceeds to fund the Company’s capital expenditure plan and for general corporate purposes.
The securities to be offered have not been registered under the Securities Act or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except following an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are predictable to be eligible for trading by qualified institutional buyers in the United States under Rule 144A and outside the United States following Regulation S.
Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company owns interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2014, it had an acreage position approximating 221,700 net acres in Eastern Ohio.
At the end of Friday’s trade, FXCM Inc (NYSE:FXCM)‘s shares dipped -3.18% to $1.52.
FXCM Inc (FXCM) declared certain key operating metrics for May 2015 for its retail and institutional foreign exchange business.
May 2015 Customer Trading Metrics from Ongoing Operations (1)
- Retail customer trading volume(2) of $331 billion in May 2015, 8% higher than April 2015 and 39% higher than May 2014.
- Average retail customer trading volume(2) per day of $15.8 billion in May 2015, 14% higher than April 2015 and 46% higher than May 2014.
- An average of 520,282 retail client trades per day in May 2015, 2% higher than April 2015 and 65% higher than May 2014.
- Tradeable accounts(3) of 188,484 as of May 31, 2015, an enhance of 263 accounts from April 2015, and an enhance of 29,583 accounts, or 19% from May 2014.
May 2015 Institutional Trading Metrics
- Institutional customer trading volume(1) of $206 billion in May 2015, 6% lower than April 2015 and 11% higher than May 2014.
- Average institutional trading volume(1) per day of $9.8 billion in May 2015, 2% lower than April 2015 and 17% higher than May 2014.
- An average of 38,394 institutional client trades per day in May 2015, 30% lower than April 2015 and 31% lower than May 2014.
FXCM Inc., through its auxiliaries, provides online foreign exchange (FX) trading and related services to retail and institutional customers worldwide. The company operates in two segments, Retail Trading and Institutional Trading. It acts as an agent between retail customers and a collection of global banks and financial institutions by making foreign currency markets for customers trading in foreign exchange spot markets.
AEGON N.V. (ADR) (NYSE:AEG), ended its Friday’s trading session with -1.73% loss, and closed at $7.39.
AEGON N.V. (ADR) (AEG) has accomplished a planned asset administration partnership with La Banque Postale. Under the terms of the agreement, Aegon has attained a 25% stake in La Banque Postale Asset Administration (LBPAM) for a consideration of EUR 112.5 million. LBPAM is the fifth largest asset manager in France, with about EUR 150 billion assets under administration.
The opportunity to create a planned partnership with La Banque Postale supports Aegon’s ambition to grow and diversify its customer base and to provide fee-based, capital-light products. It also represents a noteworthystep in implementing Aegon Asset Administration’s strategy to expand its services and solutions for third-party customers internationally.
The two companies will work together to further strengthen the development of LBPAM, which will offer a comprehensive range of products - counting international equity and multi-asset investment products. These will be distributed through La Banque Postale’s network of about 17,000 points of sale, online and by its institutional sales team.
Aegon N.V. provides life insurance, pensions, and asset administration services. The company operates through the Americas, the Netherlands, the United Kingdom, and New Markets. The company offers life and protection products, such as traditional and universal life, endowment, term, and whole life insurance products; and supplemental health, accidental death and dismemberment insurance, critical illness, cancer treatment, credit/disability, income protection, travel, and long-term care insurance.
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