On Thursday, in the course of current trade, Shares of American International Group, Inc. (NYSE:AIG), dropped -0.72%, and is now trading at $60.67.
American International Group, declared that it has priced the sale of a total of 86,883,274 ordinary shares of AerCap Holdings N.V. (AER) by means of an underwritten public offering of 71,184,686 ordinary shares and a private sale of 15,698,588 ordinary shares to AerCap. Closing of these transactions is planned for June 9, 2015 and is subject to customary closing conditions.
AIG will receive cash proceeds of about $3.7 billion, reflecting proceeds of about $3.4 billion from the underwritten offering and cash proceeds of $250 million from the private sale of shares to AerCap. In connection with the closing of the private sale of shares to AerCap, AIG will also receive $500 million of 6.50% fixed-to-floating rate junior subordinated notes issued by AerCap Global Aviation Trust and guaranteed by AerCap Holdings N.V. and certain of its auxiliaries. These notes mature in 2045 and are callable starting in 2025.
In connection with the underwritten public offering, AIG has granted the underwriters a 30-day option to purchase an additional 10,677,702 ordinary shares of AerCap from AIG. Should the underwriters exercise their option in full, AIG would receive additional proceeds of about $0.5 billion and would no longer own any AerCap ordinary shares. Under the terms of the underwriting agreement in connection with the underwritten public offering, AIG is restricted from selling any of its remaining ordinary shares of AerCap for 90 days, subject to certain exceptions.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products, in addition to various insurance products for small and medium sized enterprises; and professional liability insurance products for a range of businesses and risks.
During an Afternoon trade, Shares of Atmel Corporation (NASDAQ:ATML), gained 3.10%, and is now trading at $9.23.
Atmel Corporation, declared ASUS has selected Atmel’s maXTouch® controllers to power the touchscreen and active stylus pen of its newly launched 10.1″ Z300 tablet. The 10.1″ Z300 tablet is the world’s first on-cell touchscreen with capacitive active stylus pen support enabling a precise ‘pen-to-paper’ writing experience for more content generation on recently’s digital devices. On-cell displays enable thinner designs for next-generation mobile products.
The ASUS Z300 tablet uses one of the industry’s most advanced capacitive styli, Atmel’s maXStylus® mXTS220—the only active pen with noise immunity capable of operating in the high display noise environment emitted by ultra-thin on-cell stackups. The touchscreen on this tablet is powered by Atmel’s maXTouch® T-series touchscreen controller, featuring a revolutionary sensing architecture that combines both mutual and self-capacitance to enhance performance. Atmel’s maXStylus and maXTouch integrate seamlessly to create a flawless user experience in even the most demanding conditions.
Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit products primarily in the United States, Asia, Europe, South Africa, and Central and South America. It operates in four segments: Microcontroller, Nonvolatile Memory, Automotive, and Multi-Market and Other.
Shares of Anadarko Petroleum Corporation (NYSE:APC), during its Thursday’s current trading session fell -0.57%, and is now trading at $83.44.
Anadarko Petroleum Corporation, declared the registered underwritten public offering (the TEU offering) of 6,500,000 tangible equity units (TEUs), with a stated amount per TEU of $50, and the concurrent registered public offering (the WGP secondary offering) of 2,000,000 common units representing limited partner interests in Western Gas Equity Partners, LP (WGP). WGP is a partner of Anadarko formed to own partnership interests in Western Gas Partners, LP (WES), a separate partner of Anadarko formed to acquire, own, develop and operate midstream energy assets. These offerings are separate public offerings and neither offering is contingent on the completion of the other.
Each TEU will be comprised of a prepaid equity purchase contract and a senior amortizing note. Unless earlier settled, each prepaid equity purchase contract will automatically settle on June 7, 2018 (subject to postponement in limited circumstances) for a to-be-determined number of WGP common units, subject to Anadarko’s right to elect to deliver shares of its own common stock in lieu of such WGP common units. The number of WGP common units, or shares of Anadarko’s common stock, as the case may be, to be delivered by Anadarko will be based on the average of the daily volume-weighted average prices of WGP common units for the 20 successive trading days starting on, and counting, the 23rd planned trading day right away preceding June 7, 2018. Each amortizing note will pay equal quarterly installments that will constitute a payment of interest and a partial repayment of principal. The amortizing notes will have a final installment payment date of June 7, 2018 and will be unsecured senior obligations of Anadarko. The WGP common units that may be delivered to settle the equity purchase contracts and that are being offered in the WGP secondary offering are owned, directly or indirectly, by a wholly owned partner of Anadarko, and WGP is not issuing securities in either offering.
J.P. Morgan Securities LLC will serve as sole book-running manager for the TEU offering and lead book-running manager for the WGP secondary offering. The underwriters of the TEU offering will have a 30-day option to purchase up to an additional 975,000 TEUs, solely to cover over-allotments, and the underwriters of the WGP secondary offering will have a 30-day option to purchase up to an additional 300,000 common units. Proceeds from each of the offerings will be used for Anadarko’s general corporate purposes.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing. The Oil and Gas Exploration and Production segment explores for and produces natural gas, oil, condensate, and natural gas liquids (NGLs).
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