On Thursday, Alpha Natural Resources, Inc. (NYSE:ANR)’s shares climbed, as on April 1, Alpha Natural declared that it has accomplished the repurchase of an aggregate of about $593 million in principal amount of its unsecured notes, counting $82 million principal amount of its 3.75% convertible notes due 2017, $108 million principal amount of its 9.75% senior notes due 2018, $220 million principal amount of its 6.00% senior notes due 2019, $68 million principal amount of its 4.875% convertible notes due 2020 and $115 million principal amount of its 6.25% senior notes due 2021, in separate privately negotiated transactions with investors. Alpha funded the aggregate repurchase price of about $331 million for the unsecured notes through a combination of proceeds from the issuance of $214 million principal amount of 7.50% senior secured second lien notes due 2020 (Series B) and $117 million of cash on hand.
The repurchase of the unsecured notes and issuance of new Series B Notes results in a reduction in Alpha’s merged net indebtedness of about $379 million, and reduces Alpha’s anticipated annual cash paid for interest by about $21 million. As a result of the transactions, Alpha is revising its guidance for 2015 cash paid for interest from a range of $245-$255 million to a range of $230-$240 million.
The newly issued Series B Notes have the same terms as Alpha’s 7.50% senior secured second lien notes due 2020 that were issued on May 20, 2014, but constitute a new series of notes issued under a separate indenture and CUSIP and will vote as a separate class on all matters that require action of the noteholders. The Series B Notes are guaranteed by each of Alpha’s current and future wholly-owned domestic auxiliaries that guarantee Alpha’s obligations under Alpha’s credit contract. The Series B Notes and the guarantees are secured by second priority liens on the same collateral securing on a first priority lien basis indebtedness incurred under the credit contract, and will comprise of substantially all of Alpha’s assets and the assets of Alpha’s partner guarantors.
Alpha Natural Resources, Inc., together with its auxiliaries, engages in extracting, processing, and marketing steam and metallurgical coal in Kentucky, Pennsylvania, Virginia, West Virginia, and Wyoming. It operates through two segments, Eastern Coal Operations and Western Coal Operations.
Swift Energy Co. (NYSE:SFY)’s shares jumped during the last trading session on Thursday, as an independent oil and gas corporation, will report its first quarter financial results on Thursday, May 7, 2015 by issuing a news release before the market opens and conducting a conference call to talk about such results on that date at 9:00 a.m. CDT. To take part in this conference call, dial 877-420-2751 five to ten minutes before the planned start time and indicate your intention to take part in the Swift Energy conference call using Conference ID # 21569652. A digital replay of the call will also be accessible two hours after the call’s completion on May 7 until May 21, by dialing 855-859-2056 and using Conference ID # 21569652.
Swift Energy Corporation, an independent oil and gas corporation, attains, explores, develops, and operates oil and gas properties. The corporation focuses on the Eagle Ford trend of South Texas, in addition to the onshore and inland waters of Louisiana.
At the end of Thursday’s trade, Ensco plc (NYSE:ESV)’s shares climbed, as Ensco will hold its first quarter 2015 earnings conference call at 10:00 a.m. CDT (11:00 a.m. EDT and 4:00 p.m. London) on Thursday, 30 April 2015. The earnings release will be issued before the New York Stock Exchange opens that morning. The conference call will be webcast live at www.enscoplc.com. Interested parties also may listen to the call by dialing 1-866-652-5200 within the United States, or +1-412-317-6060 from outside the U.S., and asking for the Ensco conference call. It is recommended that participants call 15 minutes before the planned start time.
Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. The corporation operates through three segments: Floaters, Jackups, and Other. The corporation owns and operates offshore drilling rig fleet of 70 rigs, counting 10 drillships, 13 semisubmersible rigs, 5 moored semisubmersible rigs, and 42 jackup rigs located in North and South America, the Middle East and Africa, the Asia Pacific rim, Europe and the Mediterranean, and Brazil.
Walgreens Boots Alliance, Inc. (NASDAQ:WBA), ended its Thursday’s trading session in Green, after Walgreens Boots declared financial results for the second quarter and first six months of fiscal year 2015 that ended 28 February 2015. This is the first earnings declaration for Walgreens Boots Alliance since the 31 December 2014 planned combination of Walgreen Co. and Alliance Boots GmbH.
Executive Vice Chairman and Acting CEO Stefano Pessina said, “This quarter marked a solid start for our new corporation, and I remain as optimistic as ever about our long-term future. At the same time, we understand the work that is needed to proactively address headwinds such as reimbursement pressure and competition. Our work comprises several key areas of focus to create value.
“The first area is improving the performance of our businesses worldwide with an emphasis on operations. Second, we will be refreshing and reinvesting in the stores of our Retail Pharmacy USA division to improve the customer experience and expand retail margins. Third, we are restructuring our cost base, with a focus primarily in the USA, to create a more efficient cost model and become a more agile corporation. Through these efforts, Walgreens Boots Alliance is determined to lead the way in our industry and be at the forefront of innovative, pharmacy-led health care.”
Walgreens Boots Alliance, Inc., together with its auxiliaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, in addition to through mail, and by telephone and online.
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