Top Financial Stocks
Financial stocks were mixed with the NYSE Financial Sector Index
sinking about 0.6% and the S&P Financial 100 Index declining
In company news, SL Green Realty Corp (
) was trading lower today, with the real estate investment trust
saying it has expanded the term-loan portion of its unsecured
corporate credit facility by nearly 77% to $783 million.
In addition to the $383 million increase of the term loan, the
syndicated facility includes a $1.2 billion revolving line of
credit maturing in March 2018. According the company, the package
will lower the company's cost of funds, helping to strengthen an
already investment-grade balance sheet.
SLG shares were down 1.5% at $97.69 each in recent trade,
earlier sliding to a session low of $97.47 a share. The stock has a
52-week range of $83.00 to $101.78 a share.
In other sector news,
(+) IBN, (+2.3%) Shares rally after the Indian government sells
9% stake in Axis Bank, collecting $917 mln. Overall, the government
sold $3.1 bln of assets during the year ending next Monday,
reducing its budget deficit to 4.6%.
(+) JPM, (+0.8%) Fang Fang, one of the top investment bankers
for the company in Hong Kong quits amid U.S. probe of the bank's
alleged targeting of the children of top Communist Party officials
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.