Payment venture raises equity, debt for $37M buy
Posted on November 18, 2009 at 8:21 am
Pace Payment Systems, an ambitious Burton Hills-based payment processing company, has raised almost $19 million in debt and equity, money that will help it merge with a California company. Pace is led by former Prime Office Products CEO Paul Christians and backed by Claritas Capital. Check out its site here.
SEE ALSO: Pace’s SEC filing detailing its offering
permalink | Comment on this post
Fitch: State bond rating stays at AA+
Posted on November 17, 2009 at 8:34 amOn the day budget hearings started on Capitol Hill, Fitch Ratings lauded state officials’ “proactive approach to addressing the fiscal impact of the current downturn” and rated an upcoming $212 million bond sale at AA+, the state’s current rating.
permalink | Comment on this post
Financial milestone for Rutherford utility
Posted on November 11, 2009 at 9:10 amStandard & Poor’s has given the Consolidated Utility District of Rutherford County its first-ever AAA rating.
This AAA/Stable rating was awarded as CUCRC prepared for the sale of $15 million in 20-year bonds. The proceeds will help to refinance the utility’s previous debt which was used to improve its system which serves almost 43,000 customers in Rutherford County. The bond monies will also be used to provide additional capital for ongoing projects.
permalink | Comment on this post
Good thing Emdeon and Cumberland went public last month
Posted on September 25, 2009 at 12:59 am
StreetInsider.com says the trickle of IPOs and secondary offerings has become a near-tidal wave that could quickly peter out as investors simply lose interest and look to digest what they’ve gorged on in recent weeks. Besides, all these firms raising millions will have to put that money to work sometime.
‘Maybe a little antacid, in the form of more M&A, could help us fight through the pain.’
permalink | Comment on this post
Monster volume on down Gaylord day
Posted on September 24, 2009 at 12:24 pm
Shares of Gaylord Entertainment are down big for a second day in a row following the company’s announcement of a big capital raise. After falling more than 14 percent yesterday — a drop that erased the previous five days’ gains — Gaylord (Ticker: GET) is giving up another 6 percent.
The difference with yesterday is in the massive number of shares changing hands today: By noon, investors had traded almost 7.4 million shares, a whopping 20 times the stock’s daily average. Shares coming in as part of the offering are likely a big part of the story, but there’s a good chance short sellers are having their way, too. Yesterday, they accounted for about 80 percent Gaylord’s volume, according to one market watcher.
UPDATE at 3: 41 p.m.: Gaylord Thursday volume ending up totaling almost 12 million. The stock recovered slightly during late regular trading, but is giving up another 3 percent after hours and is now trading at $20.08.
permalink | Comment on this post
Gaylord names its price
Posted on at 8:23 am
The hotel operator is moving forward quickly with its stock and convertible bond offerings. The Nashville-based company will market up to 6.9 million shares at $21.80 — where they ended Wednesday after investors took them down more than 14 percent — and pay 3.75 percent on its new debt.
The latter number is 300 basis points below the rate on the debt Gaylord will pay off with this offering’s proceeds. The convertibles’ strike price is $27.25, a price that Gaylord shares (Ticker: GET) last traded at in October 2008.
permalink | Comment on this post
Murfreesboro in big bond issue
Posted on September 23, 2009 at 8:37 am
Rutherford County’s center of commerce has issued more than $120 million in debt that will mature from next year to 2026. The proceeds will go toward sewer and electric infrastructure projects as well as the city’s general fund.
permalink | Comment on this post
Nissan wrap: Sales, new debt and a nod from Cars.com
Posted on September 2, 2009 at 7:28 am
Three tidbits from the world of Nissan:
• Cash for clunkers lifted August sales of the Versa, but the truck segment is still wheezing.
• The auto maker is preparing to bring to market more than $1 billion in debt backed by auto loans that will be covered by a Federal Reserve program aimed at making the credit-card, student-loan and auto-loan markets more liquid.
• Cars.com calls the Altima one of the most improved cars of the last decade: “Its accomplishment since 2002 is how it’s provided sportier looks and driving than the big dogs have, without sacrificing livability.”
permalink | Comment on this post
When it comes to HCA, Fitch still looking at 2012
Posted on July 29, 2009 at 11:33 amIn rating a planned bond offering, the credit ratings agency says HCA is doing a nice job on the operations front, but says the more than $10 billion of debt that begins to come due in two years looms as large as ever.
SEE ALSO: HCA doubles bottom line
permalink | Comment on this post
Money raised, mission accomplished
Posted on June 3, 2009 at 6:26 pmCorrections Corp. of America has wrapped up its part in the capital-raising frenzy that has taken over the market. The prison operator has pulled in $465 million to pay off debt due in 2011.
permalink | Comment on this post
Psych Solutions issuing $120M in debt
Posted on May 4, 2009 at 7:49 amThe behavioral hospital operator (Ticker: PSYS) will use the proceeds to pay off existing debt. As of March 31, the Franklin-based company had $1.3 billion in debt on its books.
permalink | Comment on this post
HCA’s haul ends up tripling
Posted on April 16, 2009 at 1:51 pmThe hospital company’s debt sale, planned at $500 million early this week, ended up totaling $1.5 billion.
permalink | Comment on this post
Pet DRx gets another million
Posted on April 3, 2009 at 1:02 amThe veterinary hospital company has completed the third phase of a $6.5 million raise. Two officers/directors were among the buyers this time around.
permalink | Comment on this post
Dell hits up bond market
Posted on April 1, 2009 at 11:31 pmThe computer manufacturer has sold $500 million of debt due in 2014 and filed to raise an unspecified amount in the near future.
permalink | Comment on this post
BNA sells bonds
Posted on March 19, 2009 at 9:50 pmThe Metropolitan Nashville Airport Authority has successfully marketed $36 million in bonds that will finance improvements to its gate areas, baggage claim and common areas and HVAC equipment.
Recent Comments
The more I hear the more I am convinced that if the healthcare bill passes even...
In our good state a select few run the place, 20 yrs ago and today....
Southernindie…Unfortunat ely you have suffered a dibilitating...
And…Karl (Marx) Dean is spending one billion dollars...
Someone explain the difference between short stay and observation...
Watching the Chairman of Starwood Hotels yesterday on CNBC...
Funny how the Union’s feel about taxes. They complained about their...
Where is it?
An absolutely ugly structure, which I have always thought did not take...
Too bad that ATT changed the look of the building so that it no longer...
Yeah, well, look at the TN Legislature of good ol’ boys and the...
As long as the red rules, we will be far behind other states. The GOP does...