On Friday, Shares of Lyondell Basell Industries NV (NYSE:LYB), gained 1.19% to $96.30.
Lyondell Basell Industries N.V., declared its commencement of two concurrent consent solicitations respecting amendments (the “Amendments”) to the indentures (the “Indentures”) governing its outstanding 5.000% Senior Notes due 2019 (the “2019 Notes”), 6.000% Senior Notes due 2021 (the “2021 Notes”) and 5.750% Senior Notes due 2024 (the “2024 Notes” and together with the 2019 Notes and the 2021 Notes, the “Notes”). Presently, $1,000,000,000 in aggregate principal amount of each of the 2021 Notes and the 2024 Notes, and $2,000,000,000 in aggregate principal amount of the 2019 Notes, is outstanding.
Principally, the Amendments seek to eliminate restrictions on debt of certain auxiliaries of the Company and requirements that certain future auxiliaries guarantee the Notes. The Company views these provisions as carryovers or remnants from the period priority to its senior notes achieving investment grade ratings. If adopted, the Amendments will align certain covenants in the Indentures with those in the Company’s most recent senior notes indenture, resulting in more consistent covenants across the Company’s public debt portfolio and affording the Company greater financial flexibility and easing administration of its public debt portfolio.
Each consent solicitation will expire at 5:00 p.m., New York City time, on Thursday, December 10, 2015, unless extended (the “Expiration Date”). The consent solicitations are conditioned on the receipt of consents from holders of record at 5:00 p.m. New York City time on November 30, 2015 (the “Record Date”) of (i) a majority in aggregate principal amount of the outstanding 2021 Notes and (ii) a majority in aggregate principal amount of the outstanding 2019 Notes and 2024 Notes, voting as a single class, respectively (the “Requisite Consents”).
Lyondell Basell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers.
Shares of Credit Suisse Group AG (ADR) (NYSE:CS), inclined 0.13% to $ 22.62, during its last trading session.
The Credit Suisse LAB Index was down 0.63% in November.
The Credit Suisse Liquid Alternative Beta Index (“CSLAB”), which aims to reflect the performance of the global hedge fund industry, finished down 0.63% in November. The Managed Futures strategy was the strongest performer for the month, and finished up 2.08% in November. The Long/Short Equity strategy was the highest performing strategy year-to-date, up 7.30%.
Credit Suisse Group AG, together with its auxiliaries, provides various financial services to private, corporate, institutional, government clients, and high-net-worth individuals, in addition to affluent and retail clients worldwide.
Finally, Shares of Monsanto Company (NYSE:MON), ended its last trade with 1.31% gain, and closed at $97.85.
Monsanto Company’s (MON) Robb Fraley, Ph.D., executive vice president and chief technology officer, will address investors in New York recently at Citi’s Basic Materials Conference. Fraley will discuss product performance, the company’s planned initiatives and long-term growth drivers, future expectations and other matters related to the company’s business. Fraley’s session will start at 2:45 p.m. ET (1:45 p.m. CT).
During the event, Fraley will confirm the company’s fiscal year 2016 earnings per share (EPS) guidance of $5.10 to $5.60 on an ongoing basis and $4.00 to $4.66 on an as stated basis. The company also will confirm fiscal year 2016 first quarter EPS guidance to be a loss in the range of ($0.23) to ($0.33) on an ongoing basis, though it will indicate that it is now predictable to be closer to an ongoing loss of ($0.23) as spend and Brazil results both appear to be slightly better than originally forecasted for the first quarter of fiscal year 2016. Fiscal year 2016 first quarter EPS guidance on an as-stated basis remains a loss in the range of ($0.86) to ($1.13).
The company also continues to project free cash flow in the range of $1.6 billion to $1.8 billion for fiscal year 2016. The company anticipates net cash offered by operating activities to be $2.7 billion to $3.1 billion, and net cash required by investing activities to be about $1.1 billion to $1.3 billion.
A webcast link and slides for the event are available at www.monsanto.com/investors. Following the live broadcast, a replay link of the webcasts will be accessible on the Monsanto website for three weeks.
Monsanto Company, together with its auxiliaries, provides agricultural products for farmers worldwide. It operates in two segments, Seeds and Genomics, and Agricultural Productivity. The Seeds and Genomics segment produces raw crop seeds, counting corn, soybean, cotton, and canola seeds under the DEKALB, Channel, Asgrow, and Deltapine brands; and vegetable seeds, such as tomato, pepper, melon, cucumber, squash, beans, broccoli, onions, lettuce, and others under the Seminis and De Ruiter brands.