Get All Access for FREEMarket News & Research,
Live Transcripts & Audio,
and a whole lot more…
$INFO has priced an offering of $500MM aggregate principal amount of senior notes due 2026. The offering is expected to close on December 1, 2017. The company intends to use the net proceeds from the offering to repay amounts outstanding under its revolving credit facility.
$FCPT closed on the purchase of ten restaurant properties today from Washington Prime Group Inc. This is the first of two tranches in the forty-one property acquisition announced in September 2017. Closing of the 31 remaining properties in the second tranche is expected to be completed by the end of 2Q18.
$SSNC agreed to buy $DST in an all-cash transaction for $84 per share plus assumption of debt, equating to an enterprise value of about $5.4Bil. $SSNC plans to fund the acquisition and refinance existing debt with a combination of debt and equity. Both $SSNC's and $DST's BoD have approved the transaction, and it is expected to close by 3Q18.
Real estate investment trust $FCPT acquired two Buffalo Wild Wings restaurant properties leased to World Wide Wings for $6.6MM. The properties are located in Illinois, and are occupied under separate triple-net leases with approx. 14 years of term remaining and a rent escalation of 2% annualized.
Business advisory firm $FCN has appointed Jan Naifeh as Senior Managing Director of its Corporate Finance & Restructuring segment. Most recently, Naifeh served SunTrust Bank as SVP of the Corporate and Investment Banking Special Assets Division. The appointment is part of FTI’s continuing investment in its healthcare industry expertise.
Specialty chemicals company $NGVT said it is planning to launch a private offering of its senior unsecured notes. The company intends to use the net proceeds from the offering to finance the planned acquisition of the pine chemicals business of Georgia-Pacific Chemicals and for general corporate purposes.
$TGNA appointed Brad Ramsey as president and general manager of WFAA in Dallas, TX. Ramsey will replace Michael Devlin who previously announced his retirement. Devlin will remain at WFAA through early February to ensure a smooth transition.
$FCN announced the appointment of Elliot Sloane, former CEO and founder of Sloane & Company, as a Senior Managing Director in the firm’s Strategic Communications segment. Mr. Sloane will report to Brian Kennedy, the segment’s Head of the Americas.
Media company $TGNA has signed an agreement to acquire the broadcasting stations of Midwest Television, Inc. in San Diego for $325MM in cash. The assets comprise KFMB-TV, KFMB-D2 and radio broadcast stations KFMB-AM and KFMB-FM. The transaction is expected to be accretive to TEGNA's EPS by a few cents in the first 12 months after close.