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$WM plans to use net proceeds of the offering, together with cash on hand, to repay $500MM of its outstanding 2.6% Senior Notes when they mature in Sept. 2016, plus accrued and unpaid interest of $6.5MM. Company also expects to temporarily pay down short-term borrowings under its US revolving credit facility.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.