Senior Level Appointment, Financial Results, Pricing of Offering, Acquisitions, and Closing of Loans - Research Reports on ACE, Realogy, American Tower, Evercore and PNC Editor Note: For more information about this release, please scroll to bottom
NEW YORK, August 7, 2014 /PRNewswire/ --
Today, Analysts Review released its research reports regarding ACE Limited (NYSE: ACE), Realogy Holdings Corp. (NYSE: RLGY), American Tower Corp. (NYSE: AMT), Evercore Partners Inc. (NYSE: EVR) and PNC Financial Services Group Inc (NYSE: PNC). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/5548-100free.
ACE Limited Research Reports
On August 5, 2014, ACE Limited's (ACE) subsidiary ACE Group announced the appointment of Kyle Bryant as Regional Cyber Manager, Continental Europe, effective August 1, 2014, in a move to strengthen its cyber risk practice to meet changing customer needs. ACE informed that in his new role, Kyle Bryant will be responsible for growing ACE Group's cyber risk business across Continental Europe and will also focus on bringing together ACE Group's extensive international first and third-party expertise, underwriting capabilities, risk management and incident response services to deliver bespoke, market-leading solutions to brokers and clients. He will report to Grant Cairns, Regional Manager, Financial Lines for ACE Group in Continental Europe. Kyle Bryant previously held the position of Assistant Vice President at ACE USA. The full research reports on ACE are available to download free of charge at:
Realogy Holdings Corp. Research Reports
On August 4, 2014, Realogy Holdings Corp. (Realogy) released its Q2 2014 and H1 2014 financial results. The Company reported Q2 2014 net revenues of $1.5 billion, down 1.4% YoY. The Company's Q2 2014 net income attributable to Realogy came in at $68 million or $0.46 per diluted share, compared $84 million or $0.57 per diluted share in Q2 2013. The Company reported H1 2014 net revenues of $2.5 billion, up 1.2% YoY. The Company's H1 2014 net income attributable to Realogy came in at $22 million or $0.15 per diluted share, compared to net income of $9 million or $0.06 per diluted share in H1 2013. As on June 30, 2014, the Company's cash and cash equivalents were $209 million. The full research reports on Realogy are available to download free of charge at:
American Tower Corp. Research Reports
On August 4, 2014, American Tower Corp. (American Tower) announced the pricing of its registered public offering of senior unsecured notes due 2021, in an aggregate principal amount of $650.0 million. American Tower informed that the notes will be issued at c.99.4% of their face value and will have an interest rate of 3.45% per annum. The Company expects net proceeds of $641.1 million from this offering, after deducting underwriting discounts and estimated offering expenses. The Company plans to use these proceeds to repay its existing indebtedness under its multi-currency $2.0 billion senior unsecured revolving credit facility. The full research reports on AmericanTower are available to download free of charge at:
Evercore Partners Inc. Research Reports
On August 3, 2014, Evercore Partners Inc. (Evercore) announced that the Company has entered in to an agreement to acquire the operating businesses of ISI International Strategy & Investment (ISI), a leading independent research-driven equity sales and agency trading firm. In addition, the Company plans to acquire 40% stake in the ISI's Institutional Equities business not currently owned by Evercore. The Company stated that the combined business, named Evercore ISI Institutional Equities, will be one of the two leading independent equity research, sales and agency trading businesses in the U.S. Further, the Company plans to issue approximately 8 million share equivalents in the two transactions, of which 70% will be based on financial performance of the combined business over the five years following closing. The Company expects the transaction to close in Q4 2014, subject to regulatory approvals. The full research reports on Evercore are available to download free of charge at:
PNC Financial Services Group Inc Research Reports
On July 28, 2014, PNC Financial Services Group Inc. (PNC) reported that its subsidiary PNC Bank, N.A. (PNC Bank) has closed the $84 million asset-based loans for three companies in the Southeast: Interra International (Interra), KPAQ Industries (KPAQ), and Kingsdown, Inc. (Kingsdown). PNC Bank provided $40 million asset-based revolver and treasury management services for Interra for working capital purposes. Further, it committed $30 million in senior secured financing to KPAQ for refinancing of existing debt and for ongoing working capital. In addition, PNC Bank provided $14.5 million to Kingsdown, which will be used to recapitalize existing debt, support ongoing working capital and to provide for current growth plans. The full research reports on PNC are available to download free of charge at:
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