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WATCO COMPANIES ANNOUNCES PRICING OF PREVIOUSLY ANNOUNCED SENIOR UNSECURED NOTES OFFERING

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PITTSBURG, Kan., July 9, 2024 /PRNewswire/ — Watco Companies, L.L.C. and its wholly-owned subsidiary, Watco Finance Corp. (collectively, “Watco”), today announced the pricing of its previously announced private offering (the “Offering”) of $700 million aggregate principal amount of senior unsecured notes due 2032 (the “Notes”).  The Notes will pay interest semi-annually at a rate of 7.125% per annum.  The Notes will mature on August 1, 2032, unless earlier redeemed in accordance with their terms.  Watco expects to close the sale of the Notes on or about July 22, 2024, subject to the satisfaction of customary closing conditions.

Watco intends to use the net proceeds of the Offering to purchase Watco’s outstanding 6.500% Senior Notes due 2027 (the “2027 Senior Notes”) tendered in a concurrently announced tender offer (the “Tender Offer”), to pay interest as required from time to time on the 2027 Senior Notes that are not tendered until such 2027 Senior Notes are redeemed, to repay a portion of Watco’s senior secured credit facility, to pay all fees and expenses related to the Offering and incurred in connection with the Tender Offer, and for general corporate purposes. The Offering is not conditioned on the consummation of the Tender Offer.  The Tender Offer is conditioned on, among other things, the consummation of the Offering.

The Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.  The Notes and related guarantees are being offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

This communication shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of the Notes, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This communication does not constitute an offer to purchase or redeem any of the 2027 Senior Notes.

About Watco Companies, L.L.C.

Watco, headquartered in Pittsburg, Kansas, is a leading provider of integrated transportation services, providing a broad set of supply chain solutions. Watco provides short line railroad, terminal and port, and logistics services to over 3,500 customers across the U.S., Mexico, Canada and Australia. Watco owns and operates a diverse portfolio of transportation infrastructure assets across North America which includes being the second largest short line railroad operator (by mileage) and, according to Watco internal estimates, one of the largest bulk and break bulk terminaling services providers. More information about Watco and its subsidiaries can be found at www.watco.com

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “forecast”, “estimate”, “project”, “intend”, “expect”, “should”, “believe” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include any statements regarding the Offering and Tender Offer. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including, but not limited to, Watco’s ability to successfully consummate the Offering or Tender Offer; general and industry economic conditions; conditions in the capital and credit markets; Watco’s ability to successfully integrate acquisitions; Watco’s relationships with Class I railroads and other connecting carriers; risks related to the geographic markets in which Watco operates, including weather conditions; Watco’s compliance with governmental regulation and legislative and regulatory developments; Watco’s ability to obtain necessary permits and leases to operate its business; Watco’s exposure to credit risk of its customers and counterparties; competitive pressures within its industries; risks related to climate change, including market and regulatory responses to climate change and related litigation; Watco’s compliance with environmental laws and regulations; Watco’s transportation of hazardous materials by rail; rising fuel costs; Watco’s dependence on management and key personnel; availability of government funding; Watco’s labor relations and the availability of qualified personnel; Watco’s reliance on a limited number of suppliers and fluctuations in the supply of components it uses in its industries; risks related to operating in foreign countries; risks related to international trade policies; future acts of terrorism or war; Watco’s reliance on technology and technology improvements in its business; risks related to cyberattacks and system disruptions; conflicts of interests among its limited number of equityholders and investors in the Notes; risks related to epidemics, pandemics and similar outbreaks of communicable diseases; and risks related to its joint venture and other investments. Watco does not intend, and undertakes no duty, to update this information to reflect future events or circumstances, except as required by law.

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SOURCE Watco Companies, LLC

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/C O R R E C T I O N from Source — Carbon Upcycling Technologies Inc./

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In the news release, Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is 30% Stronger than Existing Roadways, issued 12-Nov-2024 by Carbon Upcycling Technologies Inc. over CNW, we are advised by the company that corrections were made to the release. The complete, corected release follows:

Carbon Upcycling, Minnesota DOT and National Road Research Alliance Joint Study Shows High-Performance Low-Carbon Concrete is Stronger than Existing Roadways

Carbon Upcycling’s concrete mix demonstrated a 28% increase in strength at 28 days, while reducing cementitious content by 12.3%, setting a new standard for low-carbon sustainable infrastructure

CALGARY, AB, Nov. 12, 2024 /CNW/ – Carbon Upcycling Technologies, Inc. (Carbon Upcycling), a leader in decarbonization and carbon capture & utilization (CCU) for hard-to-abate industries, along with, the Minnesota Department of Transportation (MnDOT) and the National Road Research Alliance (NRRA) has successfully completed the construction phase of a multi-year study on the use of low-carbon cement in highways. The results highlight Carbon Upcycling’s ability to be a drop-in solution for reducing carbon-intensive cement in concrete.

The study, managed by Sutter Engineering LLC and sponsored by the National Road Research Alliance (NRRA), rigorously tested 16 unique concrete mixtures in real-world conditions on an active Minnesota highway to identify options that could reduce the carbon footprint of infrastructure without sacrificing strength or durability. Completed in early 2024, the study aimed to find materials that could significantly lower the carbon footprint of concrete paving without compromising durability. Carbon Upcycling’s CO2-enhanced mix achieved a 12.3% reduction in cement content while matching the workability of traditional concrete, allowing seamless handling, placement, and setting times for construction crews. These findings provide valuable data to guide future low-carbon infrastructure projects across North America, as the seamless integration into existing workflows offers a drop-in, low-carbon alternative without compromising ease of use or performance.

The study revealed significant performance and environmental benefits of Carbon Upcycling’s concrete mix:

Increased Strength: 28% stronger at 28 days compared to the advanced control concrete.Reduced Cement Use: The CCU process allowed a 12.3% reduction in cementitious material, effectively reducing both carbon emissions and material costs.Greater Resiliency to Natural Elements: 32% increase in chloride resistivity for more durable concrete.

“Infrastructure is the very foundation of a sustainable future, and at Carbon Upcycling we’re committed to creating materials that support this vision while establishing a secure, stable North American supply chain,” said Apoorv Sinha, CEO of Carbon Upcycling. “Our collaboration with the Minnesota Department of Transportation highlights how Carbon Upcycling can transform captured emissions into local materials that strengthen our infrastructure. By focusing on resilience and sustainability, we’re contributing to a vision where our essential structures are clean and built to last.”

Carbon Upcycling partnered with BURNCO to deploy and test 140 m³ of its CCU-enhanced concrete mix, monitored by Larry Sutter, Principal Engineer at Sutter Engineering LLC, for strength, workability, and environmental impact on a Minnesota highway.

“Carbon Upcycling submitted a very impressive mixture design to the trial,” said Larry Sutter, MnDOT’s Principal Engineer and the project’s technical manager. “Their material not only achieved the highest reduction in cementitious content among all submissions but also demonstrated remarkable strength. By embedding CO2 and reducing the reliance on portland cement, Carbon Upcycling’s technology addresses one of the concrete industry’s most pressing challenges—lowering its carbon footprint as global demand for cement is expected to double by 2050. This project data will be invaluable as the industry works toward its 2030 CO2 reduction targets.”

Since 2021, Carbon Upcycling has deployed over 3,000 tonnes of low-carbon cement and has attracted investment from some of the world’s largest cement industry players such as Cemex, CRH and Titan Cement.

About Carbon Upcycling Technologies:
Carbon Upcycling is a decarbonization and carbon capture & utilization technology provider for the world’s hardest-to-abate industries. The company’s commercial technology upcycles point-source industrial CO2 emissions and local industrial waste materials into high-performance, low-carbon cement alternatives. The company is currently commissioning its first-of-a-kind commercial system at Canada’s largest cement plant. Carbon Upcycling has received global recognition for its industry-leading innovation. Notably, Carbon Upcycling was named a 2023 and 2024 Global Cleantech 100, Reuter’s Top 100 Innovators Leading the Energy Transition, and a World Economic Forum 2024 Technology Pioneer.

For more information, visit www.carbonupcycling.com.

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SOURCE Carbon Upcycling Technologies Inc.

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Massachusetts Community Colleges Partner with AMSimpkins & Associates to Implement their S.A.F.E. Platform in Efforts to Combat Student Applicant Fraud

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This partnership marks a significant milestone for Massachusetts Community Colleges in their efforts to prevent fraud and ensure equitable access to education. The implementation of S.A.F.E. will provide the institutions with cutting-edge technology and reliable safeguards, solidifying their reputation as forward-thinking leaders in the fight against student application fraud.

ATLANTA, Nov. 15, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates, a leader in cutting-edge cybersecurity solutions for educational institutions, is proud to announce that Massachusetts Community Colleges have selected the S.A.F.E. (Student Application Fraudulent Examination) platform to bolster their efforts in preventing and detecting student application fraud. This strategic move underscores Massachusetts’ commitment to maintaining the integrity of its admissions process and ensuring that valuable educational resources reach legitimate students.

“We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

In recent years, fraudulent applications and financial aid scams have become increasingly pervasive issues, especially as institutions pivot towards more digital and remote application processes. By adopting the S.A.F.E. platform, Massachusetts Community Colleges are taking a proactive stance to safeguard their institutions against evolving fraud tactics.

S.A.F.E., developed by AMSimpkins & Associates, is a comprehensive fraud detection and prevention solution that leverages advanced data analytics, artificial intelligence (AI), machine learning algorithms, and real-time monitoring to identify potentially fraudulent activity within the student application and financial aid processes. With over 50 colleges and universities already utilizing the S.A.F.E. platform, Massachusetts Community Colleges now join a growing community of educational institutions committed to integrity, transparency, and security.

“S.A.F.E. is built from the ground up with the unique needs of higher education institutions in mind,” said Maurice Simpkins, President of AMSimpkins & Associates. “With our deep understanding of the higher education landscape, we’ve created a solution that not only detects and prevents fraud but also allows institutions to seamlessly integrate these checks into their admissions workflows. We’re excited to partner with Massachusetts Community Colleges and support their mission to provide quality education to genuine, eligible students.”

The S.A.F.E. platform offers a robust set of features to prevent and detect fraudulent applications, including:

Real-time Identity Verification: Through partnerships with industry-leading identity verification services, S.A.F.E. ensures that applicants are who they claim to be by cross-referencing multiple data points, including Social Security Number validation, address checks, and real-time ID verification.AI-Driven Anomaly Detection: S.A.F.E. continuously monitors and learns from application data patterns, enabling it to detect suspicious behaviors that could indicate fraudulent activity.Geo-Blocking and Risk Scoring: Institutions can customize geo-blocking settings to restrict access from high-risk regions and employ dynamic risk scoring based on user interactions, device profiling, and behavior analytics.Customizable Fraud Rules and Policies: The platform allows administrators to set specific fraud thresholds and responses, tailoring the system’s sensitivity to meet the unique needs of each college or university.Real-time Alerts and Data Sharing: S.A.F.E. sends real-time alerts to designated stakeholders if suspicious activities are detected, allowing for quick responses and preventative actions.Additionally, the platform facilitates data sharing across institutions to block repeated offenders system-wide.

In addition to its fraud prevention features, AMSimpkins & Associates also provides cybersecurity consulting and support through partnerships with Cybersecurity organizations, adding another layer of protection for Massachusetts Community Colleges. This comprehensive approach aligns perfectly with the state’s vision of creating a secure and resilient higher education environment.

About AMSimpkins & Associates

AMSimpkins & Associates is an industry-leading provider of cybersecurity solutions focused on safeguarding educational institutions. Their flagship product, S.A.F.E. (Student Application Fraudulent Examination), is specifically designed to address the complex challenges of fraud in higher education admissions and financial aid. By partnering with colleges, universities, and technology providers, AMSimpkins & Associates is committed to maintaining the integrity of education by keeping students and institutions safe from fraud.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com

Media Contact

LAQWACIA SIMPKINS, AMSimpkins and Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, AMSimpkins and Associates

Twitter, Facebook, LinkedIn

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SOURCE AMSimpkins and Associates

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bswift Acquires Evive: Launches Integrated Personalized Engagement Platform

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bswift announces a fully integrated personalized engagement solution aimed at delivering better health care outcomes through data-driven personalization, predictive analytics, and behavioral science. 

CHICAGO, Nov. 15, 2024 /PRNewswire/ — bswift LLC, an industry leader in employee benefits technology and administration, announced today the launch of its fully-integrated personalization and engagement engine. This solution is a result of bswift’s recent acquisition of Evive Health, LLC, a pioneer in the field with a demonstrated track record of driving outcomes for employees, employers and health plans by optimizing benefit understanding and utilization, resources, and programs for millions of Americans. 

“By bringing bswift and Evive together, we have integrated a powerful engagement platform,” – bswift CEO, Ted Bloomberg.

With this exciting investment, bswift reinforces its mission to lead the benefits administration space and strengthens its role as a strategic ally for its clients – empowering them to deliver on their benefits strategies by motivating plan participants to manage their health and wellbeing proactively.

“Our clients and partners consistently tell us that member engagement, personalized experiences, and cost management are their top strategic priorities today and in the foreseeable future,” said bswift CEO, Ted Bloomberg. “By bringing bswift and Evive together, we have integrated a powerful engagement platform into our core benefits administration solution. That is a first, and we are delighted to immediately and directly support employers’ critical priorities with proven, industry-leading capabilities.” 

Using data-driven personalization and the power of predictive analytics and behavioral science, bswift’s personalization toolset is proven to increase benefits awareness, engagement, and utilization by delivering tailored and actionable messages about the right benefit at the right time. Demonstrated results include driving a 3X increase in health actions recommended by qualified providers, and a 12% increase in annual preventative care screening visits. 

“We’re thrilled to be the first in our market to deliver this supercharged engagement capability across all aspects of the user experience,” said bswift Executive Vice President of Product, Matt Waldrup. “bswift is completely reimagining the benefits experience with personalized, data-driven, multi-channel communications that engage employees across their physical, emotional, financial, and personal wellbeing, empowering people to make the most of their benefits.” 

bswift’s new personalization engine empowers employers and employees: 

Personalized, next-best-action journeysReward and incentive-based gamification to boost engagementOn-the-go access to benefits and incentive activities via mobile appRobust analytics and reporting for HR teams to track campaign ROI and engagement metrics

Employers can now leverage bswift’s expertise to systematically deliver smarter, more relevant communications to promote healthier habits, optimize benefit utilization – and maximize employee health outcomes. 

About bswift 
bswift LLC offers cloud-based technology and services that transform the way employees perceive and engage with their benefits. With adaptive technology, service excellence, and compassionate service, bswift serves millions worldwide. Their comprehensive suite of solutions provides intuitive, personalized online enrollment, interactive decision support, ACA compliance reporting, and employee engagement. Visit www.bswift.com to learn more. 

About Evive 

Evive is a digital communications and engagement platform that helps health plans and employers optimize the benefits, resources and programs they offer their employees. Using data-driven personalization, closed-loop engagement reporting and the power of predictive analytics and behavioral science, Evive increases benefits awareness, engagement and utilization to deliver the right message about the right benefit at the right time. Visit www.goevive.com to learn more.

Media Contact: 
Zoya Siddiqui 
Senior Director, Marketing 
zsiddiqui@bswift.com

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SOURCE bswift LLC

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