Lowes Companies (NYSE:LOW) Plans To Use The Net Proceeds From The Sale Of The Notes- American Internatio

  • Lowe's
  • 20/04/2017
Lowes Companies, Inc. (NYSE:LOW)stock finished trading at $81.99 in last trading day. Lowes (LOW) agreed to sell $1.50 billion of 3.100% Notes due 2027 and $1.50 billion of 4.050% Notes due 2047. Estimated net proceeds from this offering will be approximately $2.96 billion, after deducting offering expenses and underwriters discounts.

Lowes plans to use the net proceeds from the sale of the Notes (i) to fund its purchase for cash of up to $1.6 billion combined aggregate principal amount of certain outstanding notes validly tendered and accepted for purchase in the tender offer it commenced, (ii) for the repayment of $250 million aggregate principal amount at maturity of its 6.100% Notes due September 15, 2017 and (iii) for other general corporate purposes. Closing is expected to occur on May 3, 2017, subject to satisfaction of customary closing conditions. The stock has a 52-week high price of $-2.39% and its 52-week low was recorded at $27.01%.

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American International Group, Inc. (NYSE:AIG)trade finished at $58.98 as shares moving down -0.87%. American Intl (AIG) reported that its two items impacting Q1 results; the impact of UK Ogden discount rate change and treatment of deferred gain associated with adverse development cover. In the first quarter of 2017, AIG expects to record an increase to prior year loss reserves of around $100M pre-tax from the recent decision by the UK Ministry of Justice to reduce the discount rate applied to lump-sum bodily injury payouts, known as the Ogden rate, to -0.75%.Carried reserves as at December 31, 2016 were estimated using an assumption that the Ogden rate would decline to 1.0%.

This discount rate change primarily impacts the Liability & Financial Lines business within Commercial Insurance in the United Kingdom.Carried reserves as at December 31, 2016 were estimated using an assumption that the Ogden rate would decline to 1.0%. This discount rate change primarily impacts the Liability & Financial Lines business within Commercial Insurance in the United Kingdom.AIG will recognize an estimated nominal pre-tax deferred gain of $2.6 billion in connection with the adverse development cover entered into with Berkshire Hathaway as previously disclosed. As took noticed on firm performance, its weekly performance was -2.98%, monthly performance was -5.44%. The stock price of AIG is moving down from its 20 days moving average with -3.70% and isolated negatively from 50 days moving average with -5.81%.

Why NYSE:AIG on Bearish Notes in Eye of Experts?Find Facts Here

Tesaro, Inc. (NASDAQ:TSRO)surged 1.36% to close at $148.00 with the total traded volume of 652893 shares. Tesaro (TSRO) reported that availibility of Zejula for patients with recurrent ovarian cancer in the U.S. ZEJULA is the first and only PARP inhibitor to be authorized for the maintenance treatment of women with recurrent ovarian cancer. ZEJULA is the only PARP inhibitor that has demonstrated a clinically meaningful increase in PFS regardless of BRCA mutation or biomarker status . The firms shares performance for the last one month was -2.66% and 4.91% in the previous week, whereas year to date performance was calculated 10.05%.

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