Tag: Poor’s

Tesla to be Added to the S&P 500 Index

November 16, 2020 / WIL BALDWIN

Tesla (Nasdaq: TSLA) will be joining the S&P 500 index, expanding its investor base and putting the electric car maker in the same company as market behemoths such as Alphabet, Amazon.com, Apple, and Microsoft.

The announcement, made Monday afternoon by the S&P Dow Jones Indices, sent the company’s shares 13.7% higher in after-market trading. Tesla will officially join the benchmark stock index before the market opens on December 21, the index stated.

When Tesla joins the S&P 500, it will be one of the most valuable companies on the benchmark index. The weighting will be so influential that the S&P is debating whether or not to add the stock at its full market capitalization weight all at once, or in two separate tranches.

Virgin Australia Share Price Dips Below 10 Australian Cents

March 2, 2020 / WIL BALDWIN

Written by Adam Thorn

Virgin Australia’s share price dipped below 10 cents on Monday – days after credit rating agency Standard & Poor’s downgraded its outlook to negative.

The drop represents an enormous fall from a high of $2.19 in February 2007. Virgin played down the developments, claiming any speculation of the future of the business was “untrue and misleading”.

Last week, Australian Aviation reported that the wider group announced a $97 million half-year loss and its intention to cut its Tigerair fleet.

Click the link to read the full story!

https://australianaviation.com.au/2020/03/virgin-australia-share-price-dips-below-10-cents/

Fly Leasing Reprices and Extends 2012 Term Loan

November 25, 2019 / WIL BALDWIN

DUBLIN, Nov. 25, 2019 /PRNewswire/ — Fly Leasing Limited (FLY) (“FLY”), a global leader in aircraft leasing, today announced it has repriced its $385 million Term Loan. The interest rate on the amended loan is LIBOR plus 1.75%, a 0.25% margin reduction. Additionally, the maturity has been extended by more than two years from February 2023 to August 2025. In conjunction with the extension, FLY paid a one-time fee of 0.25% OID to the lenders.

FLY Leasing Limited logo. (PRNewsFoto/FLY Leasing Limited)

“FLY’s strong upward trajectory, combined with its significant deleveraging and recent Standard & Poor’s rating upgrade, created the momentum for the successful repricing of FLY’s largest debt facility. We anticipate annual cash interest savings of nearly $1 million,” said Colm Barrington, CEO of FLY. “We remain committed to reducing our borrowing costs while opportunistically extending debt maturities. FLY will continue to explore other opportunities to optimize its balance sheet and create value.”

Tesla to be Added to the S&P 500 Index

Virgin Australia Share Price Dips Below 10 Australian Cents

Fly Leasing Reprices and Extends 2012 Term Loan

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