On Friday, Shares of McGraw Hill Financial Inc (NYSE:MHFI), gained 0.50% to $101.70.
McGraw Hill Financial, declared the pricing of its offering of $2.0 billion in aggregate principal amount of senior notes issued in three tranches with varying maturities as set forth below.
- $400 million aggregate principal amount of 2.50% senior notes due 2018
- $700 million aggregate principal amount of 3.30% senior notes due 2020
- $900 million aggregate principal amount of 4.40% senior notes due 2026
The Notes were issued in a private placement transaction following Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The offering is predictable to close on August 18, 2015, subject to customary closing conditions.
Interest on the 2018 Notes and the 2026 Notes is payable semi-annually in cash in arrears on February 15 and August 15 of each year, starting on February 15, 2016. Interest on the 2020 Notes is payable semi-annually in cash in arrears on February 14 and August 14 of each year, starting on February 14, 2016. The Notes will be guaranteed by the Company’s partner Standard & Poor’s Financial Services LLC.
The Company intends to use the net proceeds from the offering to finance the formerly declared acquisition of SNL Financial LC and for general corporate purposes.
McGraw Hill Financial, Inc. provides benchmarks and ratings, analytics, data, and research services for the capital, commodities, and commercial markets worldwide. It operates in four segments: Standard & Poors Ratings Services (S&P Ratings), S&P Capital IQ, S&P Dow Jones Indices (S&P DJ Indices), and Commodities & Commercial (C&C).
Shares of Applied Micro Circuits Corporation (NASDAQ:AMCC), declined -4.88% to $5.85, during its last trading session.
Applied Micro Circuits Corporation declared that Douglas Ahrens, Vice President and Chief Financial Officer, will resign from AppliedMicro effective Aug. 21, 2015, in order to pursue a CFO role with a privately-held company in the software industry.
In connection with Mr. Ahrens’ departure, AppliedMicro has designated Karen M. Rogge to serve as interim CFO commencing Aug. 24, 2015. Ms. Rogge has been a senior financial and operations executive at industry-leading technology companies, in addition to emerging companies, for the past four decades. AppliedMicro has retained a search firm and is in the process of identifying a permanent successor.
“I would like to thank Doug for his contributions to AppliedMicro,” said Dr. Paramesh Gopi, President and Chief Executive Officer of AppliedMicro. “We wish Doug continued success in his next venture.
Applied Micro Circuits Corporation provides silicon solutions for next-generation cloud infrastructure and data centers; and connectivity products for edge, metro, and long haul communications equipment in the United States and internationally.
At the end of Friday’s trade, Shares of Fluor Corporation (NEW) (NYSE:FLR), gained 0.74% to $48.01.
Fluor Corporation declared that it has signed an agreement to divest 50 percent of shares in its Spanish operations, Fluor S.A., to Sacyr Industrial S.L.U., a leading multinational Spanish construction company. The new entity, SacyrFluor, will be headquartered in Fluor’s Madrid operations center. The value of the divestiture is €39 million.
SacyrFluor will provide project administration, engineering, procurement, construction administration and self-perform construction services for the energy and chemicals industry in Spain, Southern Europe, North Africa and certain countries in South America.
Pedro Sigüenza, chief executive officer of Sacyr Industrial, said, “SacyrFluor is the ideal companion for Sacyr Industrial, enabling us to boost our oil and gas business and enhance our capacity to take on larger engineering, procurement and construction projects.”
Fluor Corporation, through its auxiliaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project administration services worldwide.
Finally, Western Digital Corp (NASDAQ:WDC), ended its last trade with 1.14% gain, and closed at $82.50.
Western Digital Corp., declared that Chairman Tom Pardun, 71, will retire after 22 years of service on its board of directors, in compliance with the company’s mandatory retirement-age policy for directors. Matthew Massengill, 54, a former chairman, president and chief executive officer of the company and a director since 2000, has been designated to succeed Pardun as chairman. Len Lauer, 58, chairman and chief executive officer of Memjet and a Western Digital director since 2010, was named lead independent director of the WDC board. The changes will become effective at the company’s next annual meeting of shareholders in November 2015.
Pardun joined the Western Digital board in 1993 when the company’s revenues stood at $938 million. He served two terms as chairman for a total of 10 years and as lead independent director for the six years between his terms as chairman.
“Western Digital shareholders have been well served by Tom Pardun’s stewardship for more than two decades,” said Steve Milligan, president, chief executive officer and director. “His guidance and governance during many noteworthy stages of the company’s history have been invaluable. On behalf of fellow directors, employees and shareholders, we thank Tom for his distinguished service.
Western Digital Corporation, through its auxiliaries, develops, manufactures, and sells data storage solutions that enable consumers, businesses, governments, and other organizations to create, manage, experience, and preserve digital content. It provides hard disk drives (HDDs) and solid-state drives for desktop and notebook personal computers (PCs), and performance enterprise and capacity enterprise markets.
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