On Thursday, Health Care REIT, Inc. (NYSE:HCN)’s shares declined -0.18% to $66.23.
Health Care REIT, Inc. (HCN) notified holders of its 3.00% Convertible Senior Notes due 2029 (the “Notes”) that they continue to be entitled to convert all or a portion of their Notes into cash and, if applicable, shares of the company’s common stock (the “Conversion Option”) through the close of business on September 30, 2015. The Notes remain convertible because the closing price of shares of the company’s common stock, for at least 20 trading days during the 30 successive trading-day period ending on June 30, 2015, was greater than 120% of the conversion price in effect on June 30, 2015.
To convert a certificated Note, a holder must (1) complete and sign a conversion notice, with appropriate signature guarantee, on the back of each Note, (2) surrender the Notes to The Bank of New York Mellon Trust Company, N.A., which is serving as the conversion agent, (3) furnish appropriate endorsements and transfer documents if required by the registrar or the conversion agent, (4) pay the amount of interest, if any, the holder must pay in accordance with the indenture, and (5) pay any tax or duty if required following the indenture. To convert interests in a global Note, the holder must comply with The Depository Trust Company’s (“DTC”) applicable conversion program procedures.
Upon conversion, the principal amount of the Notes will be paid in cash and the conversion value, if any, will be paid in shares of common stock based upon the volume-weighted average prices per share of the company’s common stock during the 20-trading day period following the satisfaction of the conversion procedures described above.
A holder may convert a portion of the Notes. The converted portion must be a principal amount of $1,000 or a multiple of $1,000.
Health Care REIT, Inc. is an independent equity real estate investment trust. The firm engages in acquiring, planning, developing, managing, repositioning and monetizing of real estate assets. It primarily invests in the real estate markets of the United States. The firm primarily invests in senior living and health care properties.
Radian Group Inc (NYSE:RDN)’s shares gained 0.03% to $18.65.
Radian Group Inc (RDN) accomplished its formerly declared underwritten public offering of $350 million principal amount of 5.250% Senior Notes due 2020 (the “Notes,” and the offering, the “Offering”). In connection with the Offering, on June 16, 2015, the Company reached an underwriting agreement (the “Underwriting Agreement”) with Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc., as representatives of the several underwriters named on Plan A thereto (the “Underwriters”), regarding the sale by the Company of its Notes. The Underwriting Agreement contains other terms and conditions, counting indemnification rights and obligations of the parties thereto, that are generally customary for transactions of this nature.
The net proceeds from the sale of the Notes, after underwriting discounts and commissions and estimated offering expenses, were about $343,503,000. The Company is using a portion of the net proceeds from the Offering, together with shares of its common stock, to purchase an aggregate of $389 million principal amount of its 3.000% Convertible Senior Notes due 2017 (the “2017 Convertible Notes”) and thereafter, to repurchase some of the common stock the Company will issue in connection with such purchases, and otherwise for general corporate purposes.
Radian Group Inc., through its auxiliaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance, and Mortgage and Real Estate Services (MRES). The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance that protects mortgage lenders from all or a portion of default-related losses on residential mortgage loans made to home buyers, in addition to facilitates the sale of these mortgage loans in the secondary mortgage market. It offers primary mortgage insurance coverage on residential first-liens.
At the end of Thursday’s trade, Century Aluminum Co (NASDAQ:CENX)‘s shares surged 2.96% to $10.42.
Century Aluminum Co (CENX) and unionized workers at its Hawesville, Kentucky, smelter resumed negotiations on Friday, more than three weeks after a lockout began, the local chapter of the United Steelworkers said in a post on its website.
Talks will continue on Monday after a recess this weekend, the union said. Output at the 244,000 tonne-per-year smelter has not been affected, according to Century, which is controlled by Swiss commodities tradehouse Glencore.
Century Aluminum Company, together with its auxiliaries, produces primary aluminum in the United States and Iceland. It produces standard grade and value-added primary aluminum products; and carbon products, such as anodes and cathodes. The company was founded in 1981 and is headquartered in Chicago, Illinois. \
Weyerhaeuser Co (NYSE:WY), ended its Thursday’s trading session with -0.52% loss, and closed at $31.84.
Weyerhaeuser Co (WY) has designated David Helmers to lead the division as vice president. The promotion comes at a time of growth for Weyerhaeuser Distribution, which over the past year has expanded its sales teams at several facilities and introduced a range of new product lines in multiple regions.
Helmers is a 20-year veteran of Weyerhaeuser, most recently serving as director of sales and business development for Weyerhaeuser Distribution. He has held numerous other leadership positions within the company, counting sales and operations process leader, mill manager, and corporate safety and environmental leadership.
Weyerhaeuser Co. is a real estate investment trust. It primarily invests in United States. The firm operates under four business segments, timberlands, wood products, cellulose fibers and real estate. It owns timberlands primarily in the U.S and has long-term licenses in Canada. The firm manufactures wood and specialty cellulose fibers products, and develops real estate, primarily as a builder of single-family homes. Weyerhaeuser Co was founded in 1900 and is based in Federal Way, Washington.
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