On Wednesday, Shares of EXCO Resources Inc (NYSE:XCO), lost -8.96% to $1.22.
EXCO Resources, declared that the Company has obtained the requisite consents to approve the projected amendments on its formerly declared consent solicitation to amend the indenture governing its 7.500% senior notes due 2018 (the “Notes”), which expired at 5:00 p.m., New York City Time, on November 24, 2015 (the “Expiration Date”).
Following the receipt of the requisite consents to the projected amendments, EXCO reached a supplemental indenture effecting the projected amendments with respect to the indenture governing the Notes, which became operative on November 25, 2015. The new supplemental indenture: (i) eliminates the reduction in the amount of secured indebtedness permitted under EXCO’s credit facilities upon principal payments which result in a permanent reduction in borrowing capacity of EXCO and its auxiliaries, and (ii) amends the definition of “Credit Facilities” in the indenture to comprise debt securities as a permitted form of additional secured indebtedness, in addition to the term loans and other credit facilities presently permitted.
Credit Suisse Securities (USA) LLC acted as Solicitation Agent for the consent solicitation, and D.F. King & Co., Inc. acted as the Information, Tabulation and Paying Agent for the consent solicitation.
This declaration does not constitute a solicitation of consents of holders of the Notes and shall not be deemed a solicitation of consents with respect to any other securities of EXCO or its auxiliaries.
EXCO Resources, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, exploitation, development, and production of onshore oil and natural gas properties with a focus on shale resource plays in the United States.
Shares of CNH Industrial NV (NYSE:CNHI), inclined 4.36% to $6.94, during its last trading session.
In the framework of the contract for the Engineering, Manufacturing, and Development (EMD) phase of the Amphibious Combat Vehicle (ACV) 1.1 program recently awarded from the U.S. Marine Corps to the company, BAE Systems, together with teammate Iveco Defence Vehicles, will deliver a solution that will be built from the ground up to be an amphibious vehicle and will provide noteworthy capability improvements to satisfy the Marine Corps’ current and future needs.
The award is one of two EMD contracts issued. During this phase, BAE Systems will deliver 16 prototypes that will be tested by the Marine Corps starting in the third quarter of 2016.
BAE Systems’ ACV 1.1 solution is an advanced 8×8 open ocean-capable vehicle based on a platform developed by Iveco Defence Vehicles equipped with a new 6 cylinder 700 horsepower power pack, which provides a noteworthy power improvement over the current Assault Amphibious Vehicle. The vehicle performs best in class mobility in all terrains, has a suspended interior seat structure for 13 embarked Marines, blast mitigating positions for a crew of three, and improved survivability and force protection over presently fielded systems. The team has conducted extensive risk mitigation testing and evaluation for swim, land mobility, and survivability capabilities that have proven the solution’s capabilities.
CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles, engines, transmissions, and axles worldwide.
Finally, Shares of Cancer Genetics Inc (NASDAQ:CGIX), ended its last trade with 14.46% gain, and closed at $3.72.
Cancer Genetics, declared that Panna Sharma, President and CEO, will take part in a fireside chat at the Piper Jaffray Healthcare Conference in New York on Wednesday, December 2 at 4 p.m. Eastern.
Cancer Genetics, Inc., an oncology diagnostics company, focuses on developing and commercializing DNA-based tests and services to enhance and personalize the diagnosis, prognosis, and treatment of targeted cancers in the United States, India, and China.