Market Newsdesk

Douglas Emmett Declares Quarterly Cash Dividend

SANTA MONICA, Calif.–(BUSINESS WIRE)–
Douglas Emmett, Inc. (NYSE: DEI), a real estate investment trust (REIT), announced today that its Board of Directors has declared a quarterly cash dividend on each share of its common stock of $0.28, or $1.12 on an annualized basis, to be paid on January 15, 2021 to shareholders of record as of December 31, 2020.

About Douglas Emmett, Inc.

Douglas Emmett, Inc. (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. For more information about Douglas Emmett, please visit our website at www.douglasemmett.com.

Safe Harbor Statement

Except for the historical facts, the statements in this press release regarding Douglas Emmett’s business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on forward-looking statements to anticipate future results or trends. For a discussion of some of the risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210006130/en/

Stuart McElhinney, Vice President – Investor Relations

310.255.7751 [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Residential Building & Real Estate Commercial Building & Real Estate Construction & Property REIT

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Comcast to Launch Disney+ and ESPN+ on Xfinity Platforms

PHILADELPHIA & BURBANK, Calif.–(BUSINESS WIRE)–
Comcast and The Walt Disney Company announced today that they have reached an agreement that includes the rights for Comcast to distribute the Disney+ and ESPN+ services on its Xfinity X1 and Flex platforms.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201210006124/en/

“With the addition of Disney+ and ESPN+, our X1 and Flex customers will soon have the ability to easily find and watch the complete range of Disney shows and sports,” said Rebecca Heap, Senior Vice President, Video and Entertainment, Comcast Cable. “Whether it’s live, on demand or streamed via an app, unifying content is our strength and we’re pleased to add Disney+ and ESPN+ to our aggregation platforms, all accessible with the award-winning Xfinity voice remote.”

Disney+ and ESPN+ will launch on the X1 and Flex platforms in the first quarter of 2021. Existing subscribers to Disney+ and ESPN+ will be able to login through the X1 and Flex platforms, while new customers will have a variety of ways to sign-up, including through Xfinity in the future.

“Creating seamless experiences for consumers to easily access Disney+ and ESPN+ wherever they enjoy their entertainment is a top priority for us and we are incredibly excited about the upcoming launches on Comcast’s Xfinity X1 and Flex platform,” said Michael Paull, President, Disney+ and ESPN+. “From day one we have set out to make our streaming services available both widely and broadly to audiences and we’re excited to extend this promise to the millions of Xfinity customers.”

The ESPN app will also give users access to live, linear streams of the ESPN networks that a user has in their Xfinity television package (including ESPN, ESPN2, ESPN3, ESPNU, ESPNEWS, SEC Network and more) and popular short-form content such as sports highlights.

Disney+ and ESPN+ will join multiple other streaming services on X1 and Flex including Peacock, Hulu, Netflix, Amazon Prime Video, CBS All Access, Spotify, Amazon Music, YouTube, Pandora, and HBO Max coming soon, amongst many more.

Xfinity delivers the best entertainment to customers via its X1 and Flex devices and through its leading broadband service. X1 provides the most comprehensive library of entertainment on one platform with thousands of choices – aggregating live TV, On Demand, and popular streaming apps from a growing collection of networks and streaming services. Xfinity Flex is a 4K streaming device included with Xfinity Internet that extends the best features of X1 to customers who prefer only a broadband experience, giving them one integrated guide to access all of their favorite streaming video and music apps, as well as a TV interface to manage their Xfinity WiFi, mobile, security and automation services – all of which is controllable with the Xfinity voice remote.

Financial terms of the agreement were not disclosed.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Comcast Cable is one of the United States’ largest high-speed internet, video, and phone providers to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless and security and automation services to residential customers under the Xfinity brand. NBCUniversal is global and operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures, and Universal Parks and Resorts. Sky is one of Europe’s leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communications services, including residential high-speed internet, phone, and wireless services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. Visit www.comcastcorporation.com for more information.

About The Walt Disney Company

The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise that includes Parks, Experiences and Products; Media & Entertainment Distribution; and three content groups—Studios, General Entertainment and Sports—focused on developing and producing content for DTC, theatrical and linear platforms. Disney is a Dow 30 company and had annual revenues of $65.4 billion in its Fiscal Year 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210006124/en/

Media

Comcast

John Demming

[email protected]

Jen Sala

[email protected]

Disney

April Carretta

[email protected]

Bridget Osterhaus

[email protected]

KEYWORDS: United States North America California Pennsylvania

INDUSTRY KEYWORDS: Film & Motion Pictures TV and Radio Technology Licensing (Entertainment) Online Mobile Entertainment General Entertainment Entertainment Telecommunications Internet Mobile/Wireless

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Rayonier Advanced Materials Announces Pricing of Private Offering of $500 Million of Senior Secured Notes

JACKSONVILLE, Fla.–(BUSINESS WIRE)–
Rayonier Advanced Materials (NYSE: RYAM) (“RYAM”) today announced that its wholly owned subsidiary, Rayonier A.M. Products Inc. (the “Company”), has priced a private offering (the “Offering”) of $500 million aggregate principal amount of 7.625% senior secured notes due 2026 (the “Notes”), at an offering price of 100% of the principal amount thereof. The Company intends to use the net proceeds from the sale of the Notes, together with cash on hand, to repay all outstanding obligations under its existing senior secured credit agreement (other than the outstanding letters of credit issued thereunder, which will be rolled into or in respect of which back-to-back letters of credit will be issued under the Company’s recently entered-into five-year senior secured asset-based revolving credit facility in an initial committed amount of $200 million (the “ABL Credit Facility”)). The closing of the Offering is expected to occur on or about December 23, 2020, and is contingent on, and is expected to occur simultaneously with, the repayment of the existing senior secured credit agreement and the availability of the ABL Credit Facility, and is subject to other customary conditions.

The Notes will be guaranteed on a senior secured basis, jointly and severally, by RYAM and certain of RYAM’s wholly owned restricted subsidiaries organized in the United States and Canada.

The Offering will be made only to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will be subject to restrictions on transferability and resale and may not be transferred or resold, except in compliance with the registration requirements of the Securities Act or pursuant to an exemption therefrom and in compliance with other applicable securities laws. The Notes will not be registered under the Securities Act or any state or other securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

No Offer or Solicitation

This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The Offering is made only by, and pursuant to, the terms set forth in the related offering memorandum. The Offering is not being made to persons in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

About Rayonier Advanced Materials

RYAM is a global leader of cellulose-based technologies, including high-purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. RYAM also manufactures products for lumber, paper and packaging markets. With manufacturing operations in the United States, Canada and France, RYAM employs approximately 4,000 people and generates approximately $1.8 billion of revenues. More information is available at www.rayonieram.com.

Forward-Looking Statements

Certain statements in this document regarding anticipated financial, business, legal or other outcomes, including business and market conditions, outlook and other similar statements relating to RYAM’s future events, developments, or financial or operational performance or results, are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as “may,” “will,” “should,” “expect,” “estimate,” “believe,” “intend,” “forecast,” “anticipate,” “guidance,” and other similar language. However, the absence of these or similar words or expressions does not mean a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained and it is possible actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Certain important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements that may have been made in this document are described or will be described in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, including those described under “Risk Factors” in Item 1A of such document, and Quarterly Reports on Form 10-Q. RYAM assumes no obligation to update these statements except as is required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210006128/en/

Media: Ryan Houck, 904-357-9134

Investors: Mickey Walsh, 904-357-9162

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Natural Resources Manufacturing Other Manufacturing Forest Products Chemicals/Plastics

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GCI LIBERTY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of GCI Liberty, Inc. – GLIBA

NEW ORLEANS–(BUSINESS WIRE)–
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of GCI Liberty, Inc. (NasdaqGS: GLIBA) to Liberty Broadband Corporation (NasdaqGS: LBRDA). Under the terms of the proposed transaction, shareholders of GCI will receive only 0.580 shares of Liberty for each share of GCI that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgs-gliba/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210006127/en/

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

[email protected]

1-877-515-1850

KEYWORDS: United States North America Louisiana

INDUSTRY KEYWORDS: Legal Professional Services

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COUNTERPATH INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of CounterPath Corporation – CPAH

NEW ORLEANS–(BUSINESS WIRE)–
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of CounterPath Corporation (NasdaqCM: CPAH) to Alianza, Inc. Under the terms of the proposed transaction, shareholders of CounterPath will receive only $3.49 in cash for each share of CounterPath that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqcm-cpah/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210006126/en/

Kahn Swick & Foti, LLC

Lewis S. Kahn, Managing Partner, 855-768-1857

[email protected]

KEYWORDS: Louisiana United States North America

INDUSTRY KEYWORDS: Professional Services Legal Technology Telecommunications Software

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Algoma Central Corporation Announces Refinancing of Long-Term Debt

ST. CATHARINES, Ontario–(BUSINESS WIRE)–
Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading provider of marine transportation services, today announced that it has completed a refinancing of its senior secured credit facilities that were due to mature during 2021, securing highly favourable terms. Proceeds of the new issue will be used to repay the maturing senior secured notes and revolving bank credit agreement, to finance the Company’s capital expenditure plans, and for general corporate purposes.

The new credit facilities include $316 million (all amounts in Canadian dollar equivalent) raised in a private placement of senior secured notes payable (the “New Notes”). The New Notes, which have been issued in both US dollar and Canadian dollar tranches, have terms between seven and 15 years and bear interest rates ranging from 3.37% to 4.01% per annum. With an overall effective rate at closing of 3.80%, the New Notes represent a 149 basis point reduction in effective interest rate compared to the existing senior secured notes that they replace. The New Notes have been issued to a group of Canadian and US insurance companies. RBC Capital Markets, LLC led the issuance of the New Notes on behalf of the Company.

Proceeds of the New Notes will be used to retire $171 million of existing senior secured notes and $71 million of drawings under the current revolving bank credit agreement. In addition, the Company incurred approximately $9 million of costs to complete the transaction, including fees, commissions and break costs on the existing facilities. The Company will retain cash following closing of approximately $65 million for future capital expenditures and general corporate purposes.

Concurrent with the issuance of the New Notes, the Company has entered into a new $171 million revolving bank credit agreement (the “Bank Revolver”) with a syndicate of four banks. Placement of the Bank Revolver was led by Canadian Imperial Bank of Commerce, assisted by Bank of Nova Scotia.

Borden Ladner Gervais acted as Canadian counsel to the Company and Skadden, Arps, Slate, Meagher & Flom advised the Company on US matters.

“Capital markets have been very attractive recently, presenting an opportunity to reduce our cost of capital and extend the maturity date for our long-term debt, while eliminating refinancing risk that might have arisen had we waited until next year to refinance,” said Peter Winkley, Algoma’s Chief Financial Officer. “We have taken this opportunity to secure significant liquidity under good terms and very attractive pricing, positioning the Company well to achieve its objectives and deliver shareholder value,” Mr. Winkley continued.

Both the New Notes and the Bank Revolver are secured by the material marine assets of Algoma and by guarantees pledged by the material subsidiaries of the Company.

The New Notes were offered and sold on a private placement basis to accredited investors in the United States and in certain provinces of Canada. The New Notes have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the New Notes in Canada will be made on a basis that is exempt from the prospectus requirements of such securities laws. The New Notes have not been and will not be registered under the United States Securities Act of 1933 (the “Securities Act”) or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and state securities laws.

About Algoma Central Corporation

Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers, cement carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally.

Forward-looking Statements

Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to Algoma’s intentions with respect to the use of the net proceeds of the refinancing. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. Much of this information can be identified by looking for words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words. Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated: accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. Algoma assumes no obligation to revise or update forward looking statements to reflect new circumstances, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005985/en/

Gregg A. Ruhl

President & CEO

905-687-7890

Peter D. Winkley

Chief Financial Officer

905-687-7897 

Or visit

www.algonet.com

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Professional Services Maritime Transport Logistics/Supply Chain Management Finance Banking

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