Top Financial Stocks
Financial stocks are rising with the broader equity markets,
with the NYSE Financial Sector Index climbing 0.7% and the S&P
Financial 100 Index adding 0.8%.
In company news, NGP Capital Resources Co. (
) is up 0.7% at $7.46 a share, holding within 5 cents of its
session high and climbing within 7% of its 52-week high at $7.98
after the specialty lender late Thursday disclosed taking part in a
$180.0-million second lien term loan for an unnamed, privately held
company seeking to buy additional oil and gas properties in
NGPC provided $14 million - or roughly 8% - of the money in the
transaction. The term loan was issued at a 3% discount and will
yield 10.25% or LIBOR plus 9%, whichever is greater, in yearly
interest for NGPC through its March 2019 maturity.
Other lenders in the consortium were not identified. NGPC said
the latest deal increased its overall investment portfolio to
around $225 million, including about $98 million in deal so far
In other sector news,
(+) TKF, (+2.6%) Approves tender offer beginning Oct. 21 for up
to around 610,000 - or 10% - shares of the Morgan Stanley (
)-affiliated fund at 98.5% of its net asset value per share the day
after the tender offer expires.
(+) SUNS, (+0.9%) Acquires Gemino Healthcare Finance from
affiliates of EDG Partners and certain Gemino executives. Financial
terms of the transaction were not disclosed.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.