On Friday, Prudential Financial, Inc. (NYSE:PRU)’s shares declined -0.97% to $80.34, as Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (PRU) declared that Bruce Ferris, president of Prudential Annuities Distributors, has been named Chairman of the Insured Retirement Institute’s (IRI) Board of Directors. Ferris presently serves as Board Vice Chairman, and has been a member of the IRI Executive Committee for the past two years. Ferris takes on IRI’s Board Chair position after Robert Moore, CEO of Legal & General Investment Administration America, who will serve as IRI’s Immediate Past Chairman pending approval by the IRI Board of Directors.
An industry veteran, Ferris brings over 30 years of financial services leadership to the board. In his current role at Prudential Annuities, Ferris leads planning and execution for sales, planned relationship administration, product development and marketing administration.
“I’m honored to be named Chairman of the IRI Board of Directors,” says Ferris. “IRI has made vast progress in growing the association’s membership and strengthening its leadership presence on Capitol Hill. I look forward to partnering with our member companies, and advancing the initiatives begun by Robert that continue to frame the nation’s retirement security landscape.”
“We welcome Bruce to the role of IRI Board Chair,” says Cathy Weatherford, President and CEO of IRI. “His sustained commitment and energy around retirement security have long been admired by his peers and the industry alike, and we look forward to ongoing our strong and rewarding partnership.”
Prudential Financial, Inc. provides insurance, investment administration, and other financial products and services to individual and institutional customers in the United States and internationally. The corporation principally offers life insurance, annuities, retirement-related services, mutual funds, and investment administration products. Its U.S. Retirement Solutions and Investment Administration division offers individual variable and fixed annuity products; recordkeeping, plan administration, actuarial advisory, tailored participant education and communication, trustee, and institutional and retail investments services; and guaranteed investment contracts, funding contracts, institutional and retail notes, structured settlement annuities, and other group annuities.
International Game Technology (NYSE:IGT)’s shares dropped -1.12% to $20.25, during the last trading session on Friday, hitting its highest level, after International Game Technology (IGT), and its wholly-owned partner, International Game Technology (the “Issuer”), declared that the Issuer is making offers (the “Offers”) to purchase for cash $800 million aggregate principal amount of the two series of the Notes described in the table below (the “Notes”) at a purchase price equal to 101% of the principal amount thereof (the “Consideration”) plus any accrued and unpaid interest to, but not counting, the date of purchase of such Notes (the “Payment Date”). The Offers are being made to satisfy the requirements of the respective indentures governing the Notes as a result of a change of control transaction. As formerly declared, GTECH S.p.A. and the Issuer accomplished the combination of their businesses under IGT on April 7, 2015.
IGT and the Issuer also declared that the Issuer is soliciting consents (the “Solicitations”) from holders of the Notes and is offering to pay cash consent fees to holders who consent to the projected amendments with respect to the Notes. The projected amendments would change the terms of each series of the Notes by amending the reporting covenants in the applicable indenture to permit the Issuer to furnish the required information with respect to IGT instead of the Issuer if and for so long as IGT fully and unconditionally guarantees the applicable series of the Notes. As a result of the completion of the combination, IGT intends to unconditionally guarantee both series of the Notes. IGT anticipates to enter into the guarantees on or about April 17, 2015.
International Game Technology, a gaming corporation, designs, develops, manufactures, and markets casino-style gaming equipment, systems technology, and game content for land-based and online markets worldwide. The corporation operates in two segments, North America and International.
At the end of Friday’s trade, Fifth Street Finance Corp (NASDAQ:FSC)‘s shares dipped -1.05% to $7.09, as Fifth Street Finance Corp (FSC), declared that it plans to report earnings for the quarter ended March 31, 2015, after the financial markets close in New York on Friday, May 15, 2015.
FSAM will host a conference call at 10:00 a.m. (Eastern Time) on Monday, May 18, 2015, to talk about its quarterly financial results.
Fifth Street Finance Corp. is a specialty finance corporation that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors. The Corporation’s investment objective is to maximize the Corporation’s portfolio’s total return by generating revenue from its debt investments and capital appreciation from its equity investments.
Range Resources Corp (NYSE:RRC), ended its Friday’s trading session with -1.11% loss, and closed at $55.25, soon after Range Resources Corp (RRC), declared that its first quarter 2015 financial results news release will be issued Tuesday, April 28 after the close of trading on the New York Stock Exchange.
A conference call to review the financial results is planned on Wednesday, April 29 at 9:00 a.m. ET (8:00 am CT).
Range Resources Corporation, an independent natural gas, natural gas liquids (NGLs), and oil corporation, engages in the attainment, exploration, and development of natural gas and oil properties in the United States. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Midcontinent regions. The corporation owns 7,582 net producing wells and about 1.4 million net acres under lease in the Appalachian region; and 653 net producing wells and about 383,000 net acres under lease in the Midcontinent region.
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