FelCor Lodging Trust (NYSE:FCH) has agreed to repay $177 million of secured debt at a significant discount to the principal balance. The two loans bear interest at LIBOR plus 155 basis points and are scheduled to mature in May 2012. The loans will be settled for $130 million, plus accrued interest, representing a 27% discount to the principal balance.
On the news shares of FelCor are up 12.4%.
Pall Corporation (NYSE:PLL) posted sales for the third quarter of $616 million, an increase of 10.8% compared to the third quarter of fiscal year 2009. Sales in local currency increased 5.7%. Foreign currency translation increased reported sales by $28.6 million or 5.1% in the quarter. Net earnings were $69.7 million, compared to $44.2 million in the third quarter of fiscal year 2009.
Shares of Pall are up 11.75%.
Genesee & Wyoming (NYSE:GWR) announced that it has signed an agreement to acquire the assets of FreightLink, Asia Pacific Transport and related corporate entities for $334 million Australian, plus the assumption of debt with a carrying value of $1.7 million Australian.
Genesee & Wyoming shares are up 9.9% on the news.
KBR (NYSE:KBR) announced that it is initiating a share repurchase program to repurchase up to 10 million of its outstanding common stock and over time, maintain KBR’s outstanding shares at approximately 150 million shares.
KBR is higher by 10.2% so far today.
American Capital (NASDAQ:ACAS) has extended the expiration time of its private offers to exchange its outstanding unsecured public and private notes for cash payments and new secured notes. The company provided updates on the percentage of votes supporting their standby plan in each class.
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