Equity & Debt Offerings

Freeport-McMoRan Inc (NYSE:FCX) To Sell 13% Of Its Stake In Morenci Mine For $1 Billion

Freeport-McMoRan Inc (NYSE:FCX) To Sell 13% Of Its Stake In Morenci Mine For $1 Billion

Freeport-McMoRan Inc (NYSE:FCX) has announced that it will trade 13% of its ownership interest in Morenci unincorporated. The stake will be passed on to Sumitomo Metal Mining Co., Ltd for a $1 billion consideration. Richard C. Adkerson, the president and chief executive officer of Freeport-McMoRan, made the recent announcement where he revealed that his firm is happy to expand the[Read More…]

by February 15, 2016
With Linn Energy LLC (NASDAQ:LINE), SandRidge Energy (SDOC) and Midstates Petroleum (MPOY) Depleting Their Revolving Credit Lines, Banks Scramble

With Linn Energy LLC (NASDAQ:LINE), SandRidge Energy (SDOC) and Midstates Petroleum (MPOY) Depleting Their Revolving Credit Lines, Banks Scramble

Banks are beginning to worry about their loans tied to oil and gas industry as they predict widespread defaults in repayments. Midstates Petroleum Company Inc (OTCMKTS:MPOY), Linn Energy LLC (NASDAQ:LINE) and SandRidge Energy Inc. (OTCMKTS:SDOC) are some of the energy companies already strained to the point of exhausting their existing revolving credit facilities. That portends disaster. Drawing down credit facilities[Read More…]

by February 12, 2016
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Soaked in debt and battling rising interest expenses, J C Penney Company Inc (NYSE:JCP) turns to real estate sale

J C Penney Company Inc (NYSE:JCP) is in the process of looking for buyers of its headquarters building. The retailer is working with a unit of CBRE Group to find buyers for the property. J C Penney will lease back space in the same building after selling it. The proceeds from the sale of the headquarters are expected to help[Read More…]

by February 11, 2016
Deutsche Bank AG (USA) (NYSE:DB) Opts For A Multibillion Euros Buyback Amid The Financial Sector Concerns

Deutsche Bank AG (USA) (NYSE:DB) Opts For A Multibillion Euros Buyback Amid The Financial Sector Concerns

Germany’s leading bank, Deutsche Bank AG (USA) (NYSE:DB), said it was considering buying back several billion euros of its debs as it endeavors to boost is poor performing securities following the backdrop of a collapsing financial stocks. The announcement came after most European banks suffered a second day’s fall. The German bank is expected to turn to its emergency buyback[Read More…]

by February 10, 2016