Oil / Gas Transportation Services
TC PipeLines LP Completes Acquisition Of Additional Interests In GTN and Bison
TC PipeLines, LP announced the closing of its acquisition of an additional 45% interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) from subsidiaries of TransCanada Corporation. The acquisition is expected to be immediately accretive to Partnership cash flows and earnings. The Partnership funded the $1.05 billion acquisition with net proceeds of approximately $381 million from its equity offering in May, a new five year $500 million term loan from the Partnership's syndicate of lenders, $146 million of existing debt at GTN and the balance of $23 million drawn from its credit facility.
TC PipeLines, LP Completes Acquisition Of Additional Interests In Transcanada Corp's GTN And Bison
TC PipeLines, LP announced that the closing of its acquisition of an additional 45% interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) from subsidiaries of TransCanada Corporation. The acquisition is expected to be immediately accretive to Partnership cash flows and earnings. The Partnership funded the $1.05 billion acquisition with net proceeds of approximately $381 million from its equity offering in May, a new five year $500 million term loan from the Partnership's syndicate of lenders, $146 million of existing debt at GTN and the balance of $23 million drawn from its credit facility.
China Natural Gas Inc Announces Appointment Of Chairman-Form 8-K
China Natural Gas Inc reported in its Form 8-K that on June 24, 2013, the Board of Directors of the Company appointed its CEO, Mr. Shuwen Kang, as the Chairman and a member of the Company’s Board of Directors.
Inergy Midstream LP Announces Management Change-Form 8-K
Inergy Midstream LP reported in its Form 8-K that on June 19, 2013, Phillip L. Elbert resigned as an Officer and Director of NRGY GP, John Sherman resigned as Chief Executive Officer (CEO) and will no longer serve as Chairman of the Board of Directors of NRGY GP and R. Brooks Sherman, Jr. resigned as President of NRGY GP. In addition, the employment of Messrs. Elbert, Sherman and Sherman was terminated as of June 19, 2013. John Sherman will continue to serve as a Director on the Board of Directors of NRGY GP. Messrs. On June 19, 2013, the Board of Directors of NRGY GP was expanded from five Directors to six Directors and Robert G. Phillips and Michael G. France were appointed as Directors of NRGY GP and Mr. Phillips was appointed Chairman of the Board. Mr. Phillips was also elected as Chief Executive Officer (CEO) and President of NRGY GP. As of the date of this Report, neither Mr. Phillips nor Mr. France have been named to serve on any committee of the Board of Directors of NRGY GP.
APA Group Announces Estimated Final Distribution Information For Six Months Ended June 30, 2013; Confirms FY 2013 EBITDA Guidance
APA Group announced its estimated final distribution of AUD0.185 per stapled security for the six months ending June 30, 2013. Based on this estimate, together with the interim distribution of AUD0.17 paid in March 2013, total distributions for the 2013 financial year will be AUD0.355 per security. That represents an increase of 1.4% over the previous year’s distributions, in line with APA’s previous guidance for this year’s total distributions of at least AUD0.35 per security. Securities trade ex-distribution is on June 24, 2013, Record Date is on June 28, 2013 and Payment Date is on September 11, 2013. The Board has further determined to confirm guidance in respect of the financial results for fiscal 2013. APA expects EBITDA for fiscal 2013 to fall within the range of AUD755 million to AUD770 million inclusive of the significant items reported in the first half of the year.
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Sector Summary
| Energy |  -0.31% |
| Basic Materials | -1.07% |
| Industrials | -0.75% |
| Cyclical Goods & Services | -0.11% |
| Non-Cyclical Goods & Services | -0.43% |
| Financials | -0.43% |
| Healthcare | -0.59% |
| Technology | -0.32% |
| Telecoms | -0.16% |
| Utilities | -0.86% |
| DOW | 14,928.94 | -46.02 |
-0.31% |
| S&P 500 | 1,613.28 | -1.68 |
-0.10% |
| NASDAQ | 3,430.27 | -4.22 |
-0.12% |
| TR US Index | 146.04 | -0.61 |
-0.42% |
+246.24Analyst Research
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Provider: Bohai Securities Co.,Ltd.
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$161.00
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Provider: Thomson Reuters StreetEvents
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$39.00
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$23.00
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$39.00
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Provider: Wright Reports
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$35.00
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