Traders’ Favorite: United States Steel Corporation, Comcast Corporation, American International Group Inc
2013-03-22 13:36 ET - News Release
NEW YORK, March 22, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on United States Steel Corporation, Comcast Corporation, American International Group Inc.United States Steel Corporation(NYSE:X) has rolled its maturity stack with a two-part sale of evenly-sized convertible bonds (CBs) and high-yield debt. The steelmaker achieved pin-point pricing, which helps pre-fund the US$862.5m of 4% CBs that come due in May 2015. The CB, structured as a six-year security with four years of call protection, was aimed at outright investors from the beginning.Has X Reached The Bottom and Ready To Move Higher? Find Out Here http://bestdarnpennystocks.com/landing/home-aw.php?code=X (OR Just copy and paste the link)JP Morgan, Barclays, Goldman Sachs and Morgan Stanley launched a one-day bookbuild on a US$250m CB against price talk of 2.5%-3% and 27.5%-32.5% on the coupon and conversion premium, respectively.The concurrent US$250m eight-year non-call four bonds were talked in the range of 6.75%-6.875%, providing a credit benchmark.At the end, the company priced an upsized US$275m CB at 2.75% and 30%, and US$275m of high-yield bonds at 6.875%. Pricing of the high-yield bond has provided a benchmark credit for the CB. The cost of hedging credit risk via credit default swaps is materially higher than what was implied on the high-yield bonds, an unusual occurrence.Also, the costs of shorting the company's equity are also prohibitively expensive. Loomis Sayles, AQR Capital Management, OakTree Capital Management, Calamos Advisors, and JP Morgan Asset Management, are the top five holders of US Steel's 4% CBs.Comcast Corporation(NASDAQ:CMCSA) shares gained 1.39% to $40.96. The company, on Mar. 13, was named a 2013 Channel Champion by CRN in the category of Best in Network Connectivity Services at an awards ceremony during the XChange Solution Provider conference on March 12, 2013 in Orlando, Florida. CRN's annual Channel Champions awards are based on the results of a series of surveys conducted with top solution providers.How Should Investors Trade CMCSA Now? Find Out Here http://bestdarnpennystocks.com/landing/home-aw.php?code=CMCSA (OR Just copy and paste the link)Meanwhile, American International Group Inc(NYSE:AIG) has announced the final results of its previously announced tender offers for certain debentures denominated in sterling and euros, in U.S. dollars and the capital securities issued by three statutory trusts controlled by SunAmerica Financial Group Inc., AIG’s wholly-owned subsidiary. “The completion of the tender offers shows that AIG continues to deliver on its capital management goals while illustrating its financial flexibility,” said President and CEO Robert H. Benmosche. Should Investors Buy AIG At New highs? Get Free Report Here http://bestdarnpennystocks.com/landing/home-aw.php?code=AIG (OR Just copy and paste the link)AIG has said that it will purchase the maximum principal amount of Sterling and Euro Debentures that it can for an aggregate purchase price of $429,821,726.71. The tender offer remains unchanged. AIG will accept for purchase all securities validly tendered at a bid spread equal to or greater than the applicable Clearing Spread, which results in an aggregate purchase price of approximately $1.316 billion.The Total Consideration includes an early participation amount of £50, €50 or $50 per £1,000, €1,000 or $1,000 principal or liquidation amount, as applicable, of Securities validly tendered prior to the Early ParticipationDate and accepted for purchase.Holders who tendered their Securities after the Early Participation Date and on or prior to the Expiration Date at a bid spread equal to or greater than the applicable Clearing Spread will receive the Tender Offer Consideration through March 20, 2013, in the case of the Sterling and Euro Debentures, and through March 19, 2013, in the case of the others.About bestdarnpennystocks.combestdarnpennystocks.com’s team is engaged in providing stock newsletters on various hot penny stocks on a regular basis. Our instant stock news on Major Gainers, small cap penny stocks and various other stocks, guides investors in making the wise stock market investments decision. In order to get update to the markets, we would advise you sign up to our free newsletters. You can become leader in stock market by keeping track of the daily activity.DisclaimerThe assembled information disseminated by bestdarnpennystocks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. bestdarnpennystocks.com does expect that investors will buy and sell securities based on information assembled and presented in bestdarnpennystocks.com. PLEASE always do your own due diligence, and consult your financial advisor.Contacts:bestdarnpennystocks.com 1419 Westwood Blvd Los Angeles, CA90024firstname.lastname@example.org
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