Orlando, FL -- (SBWIRE) -- 09/20/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Walter Energy, Inc. (NYSE:WLT), Lowe's Companies, Inc.(NYSE:LOW).
Walter Energy, Inc. (NYSE:WLT) shares increased 1.90% to $15.02. The company on Sept. 19 announced that it has increased the size of its previously announced offering of $350 million aggregate principal amount of senior secured notes due 2019 to $450 million with a coupon of 9.500% per annum (the "Notes"). Walter Energy will pay interest on the Notes on April 15 and October 15 of each year, beginning on April 15, 2014. The Notes will be guaranteed by each of Walter Energy's current and future wholly-owned domestic restricted subsidiaries that from time to time guarantees any of Walter Energy's indebtedness or any indebtedness of any of Walter Energy's restricted subsidiaries. The Notes and related guarantees will be secured on a first priority basis by substantially all of the property and assets of Walter Energy and the guarantors.
Additionally, Standard & Poor's Ratings Services said on Sept. 5 that it lowered its corporate credit rating on Walter Energy Inc. to 'B-' from 'B'. Standard & Poor's also lowered the ratings on the existing senior secured debt to 'B' from 'B+' and the senior unsecured debt to 'CCC+' from 'B-'.
Are investors worried about the recent updates with WLT? Find out with a free trend analysis HERE
Lowe's Companies, Inc.(NYSE:LOW) shares jumped 2.58% to $48.98. The company on Sept. 4 announced that it has agreed to sell $500 million of 3.875% Notes due 2023 and $500 million of 5% Notes due 2043. Estimated net proceeds from this offering will be approximately $984 million, after deducting offering expenses and underwriters' discounts. Lowe's intends to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on September 11, 2013.
Additionally, the company on August 23 has declared a quarterly cash dividend of eighteen cents ($0.18) per share, payable November 6, 2013, to shareholders of record as of October 23, 2013.
Is LOW going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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