Borr Drilling (BORR) said Friday it has completed a $300 million offering of convertible senior notes due 2033, including $40 million from an over-allotment option.
Proceeds will be used to repurchase its convertible bonds due 2028 and for general corporate purposes, the firm said.
Price: $5.53, Change: $+0.09, Percent Change: +1.65%
InvenTrust Properties (IVT) said late Thursday it has struck a deal to sell $250 million senior unsecured notes to raise funds for general corporate purposes, including debt repayment.The notes comprise of $50 million of 5.09% Series A senior notes due June 29, 2029, $100 million of 5.32% Series B senior notes due June 29, 2031, and $100 million of 5.60% Series C senior notes due June 29, 2033, the company said.The notes are expected to have a weighted average tenor of about 5.4 years and a weighted average fixed rate of 5.44%, it added.
Organto Foods (OGO.V) said Thursday its European division has expanded its financing agreement with Dutch cooperative bank Rabobank to support business growth.The facility has increased from 4-million euros to 7-million euros and is based on the company's accounts receivable, with potential to grow further. It expires in November 2027 and will automatically renew each year unless ended, according to the statement.Borrowed funds will carry interest based on EURIBOR plus a margin, and Organto will place 630,000 euros on deposit as collateral, the company added."We've expanded our commercial relationships, supply depth, and operational infrastructure over the past year to support continued growth. This is now translating into tangible results, as we are now realizing weekly sales in the range of approximately C$2 million, reflecting an annual sales run rate of approximately C$100 million. With this growth comes the need for expanded operational financing facilities, and today we are pleased to announce the expansion of these facilities," Chief Executive Steve Bromley said.The company's sheres closed up $0.02 to $0.83 on the TSX Venture Exchange.
3:00 Thursday vs 3:00 Wednesday2yr 100-05 vs 100-06; 3.774% vs 3.763%5yr 99-26+ vs 99-28; 3.911% vs 3.894%10yr 98-17+ vs 98-24; 4.305% vs 4.278%30yr 97-07+ vs 97-25; 4.925% vs 4.889%2/10 52.945 bps vs 51.394 bps5/30 101.230 bps vs 99.231 bps