On Thursday, Shares of CEMEX, S.A.B. de C.V. (NYSE:CX), lost -0.79% to $10.04.
CEMEX, declared that it had reached a series of private exchange agreements with certain institutional investors providing for such investors to exchange about U.S.$626 million aggregate principal amount of 3.25% Convertible Subordinated Notes due 2016 (CUSIP: 151290AZ6, P2253THV4 and 151290BB8; ISIN: US151290AZ66, USP2253THV46 and US151290BB89) issued by CEMEX and held by such investors for (i) U.S.$321 million aggregate principal amount of new 3.72% Convertible Subordinated Notes due 2020 to be issued by CEMEX and (ii) an estimated 42 million American Depositary Shares of CEMEX. These exchange transactions do not comprise the payment by CEMEX of any cash.
Following the closing of these exchange transactions, U.S.$352 million aggregate principal amount of the Existing Notes will remain outstanding. The Existing Notes are not callable (other than for tax reasons) preceding to maturity in March 2016.
CEMEX, S.A.B. de C.V., a building materials company, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, and other construction materials in Mexico, the United States, Northern Europe, the Mediterranean, South America, the Caribbean, and Asia.
Shares of MannKind Corp. (NASDAQ:MNKD), declined -1.49% to $4.63, during its last trading session.
MannKind Corporation, declared that James S. Shannon, MD, MRCP (UK) has been elected to the company’s Board of Directors after formerly serving as a director from February 2010 until April 2012. The addition of Dr. Shannon brings the total number of MannKind Board members to eight.
From May 2012 until his retirement in April 2015, Dr. Shannon was the Chief Medical Officer of GlaxoSmithKline. He formerly held the position of Global Head of Pharma Development at Novartis AG, based in Basel, Switzerland from 2005 until 2008. After joining Sandoz in 1994 as Head of Drug Regulatory Affairs, Dr. Shannon led of the Integration Office for R&D overseeing the creation of the Novartis R&D groups from those of Ciba-Geigy Ltd and Sandoz. Following the merger he was designated Head of the Cardiovascular Planned Team and subsequently became Global Head of Project Administration before being designated Global Head of Clinical Development and Medical Affairs in 1999, a position that he held until 2005 when he was designated to Head Pharma Development. Between 2008 and joining GSK, Dr. Shannon served on the boards of a number of companies, counting Biotie, Circassia, Crucell, Endocyte and MannKind. He also sat on the board of Cerimon Pharmaceuticals where he held the position of interim Chief Executive Officer and President from January 2009 until April 2010. He first entered the pharmaceutical industry in 1987 joining Sterling Winthrop Inc., working initially in Europe and subsequently in the USA, where he held positions of increasing responsibility in the administration of research and development ultimately serving as Senior Vice-President, Clinical Development. Dr. Shannon is trained in Medicine and Cardiology. He received his undergraduate and postgraduate degrees at Queen’s University of Belfast and is a Member of the Royal College of Physicians (UK).
MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States. Its lead product is AFREZZA inhalation powder, an insulin to control high blood sugar in adult patients with type 1 and type 2 diabetes. MannKind Corporation was founded in 1991 and is headquartered in Valencia, California.
At the end of Thursday’s trade, Shares of Analog Devices, Inc. (NASDAQ:ADI), lost -1.04% to $65.49.
Analog Devices, introduced a 2.6-GHz A/D converter engineered to address the high-bandwidth and dynamic-range needs of aerospace and defense applications. Combining giga-sample-rate speed and 75-dBc spurious-free, dynamic-range (SFDR) performance out to 1.8 GHz Ain, the AD9625BBP-2.6 12-bit A/D converter is fully optimized to match the frequency planning and signal sensitivity requirements of advanced electronic surveillance and counter-measure applications, such as radar systems, secure communications networks and electronic signals monitoring. The new converter is accessible in a tin-lead (SnPb) package that ensures high-reliability operation by eliminating the performance degradation and added cost associated with alternative packaging materials that are susceptible to tin-whiskering.
The AD9625BBP-2.6 A/D converter is the latest addition to ADI’s wideband RF signal processing solutions portfolio, which provides key high-reliability aerospace and defense applications with formerly unavailable dynamic performance and packaging options for better signal extraction in noisy RF environments over a wider bandwidth than ever before.
Analog Devices, Inc. engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits (ICs) for use in industrial, automotive, consumer, and communication markets worldwide.
Finally, Energy Transfer Partners, L.P. (NYSE:ETP), ended its last trade with 2.03% gain, and closed at $57.75.
Energy Transfer Equity, declared that it has priced its formerly declared offering of 5.500% senior notes due June 1, 2027. The Notes were priced at 98.5%, resulting in total proceeds of about $985 million (before expenses). The Notes initially will be secured on a first-priority basis with the loans and obligations under ETE’s senior secured revolving credit facility, senior secured term loan facilities and existing senior notes, by a lien on substantially all of ETE’s and certain of ETE’s auxiliaries’ tangible and intangible assets that from time to time secure ETE’s obligations under such indebtedness, subject to certain exceptions and permitted liens and subject to the terms of a collateral agency agreement. The liens securing the Notes will be released in full if liens do not secure more than a threshold level of senior obligations (so long as liens securing ETE’s existing senior notes are similarly released), after which the Notes will be unsecured. The Notes will be ETE’s senior obligations, ranking equally in right of payment with ETE’s other existing and future unsubordinated indebtedness and senior to any of ETE’s future subordinated indebtedness. The offering is predictable to close on May 22, 2015, subject to customary closing conditions.
Deutsche Bank Securities and Morgan Stanley are acting as joint active physical book-running managers for the offering.
Energy Transfer Partners, L.P. engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. The company’s Intrastate Transportation and Storage segment transports natural gas from various natural gas producing areas, in addition to through its ET fuel system and HPL system.
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