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TWNK

Hostess Brands

$13.07

0.3 (2.35%)

08:05
11/21/16
11/21
08:05
11/21/16
08:05

Hostess Brands announces completion of strategic refinancing

Hostess Brands announced the completion of a debt refinancing, including the repricing of its existing First Lien Term Loan and the refinancing of its existing debt into an all first lien capital structure. Under the refinancing, the company's First Lien Term Loan was repriced from LIBOR plus 3.50% to LIBOR plus 3.00%, resulting in an interest rate reduction of 50 basis points, while the remaining $83M of the company's Second Lien Term Loan with an interest rate of LIBOR plus 7.50% was refinanced with an incremental $83M First Lien Term Loan at LIBOR plus 3.00%. The company expects to realize approximately $8M of interest expense savings annually, or approximately 4c of basic earnings per share to common shareholders, as a result of the refinanced capital structure. No covenants were changed and the First Lien Term Loan continues to have a maturity date of August 3, 2022.

TWNK Hostess Brands
$13.07

0.3 (2.35%)

11/07/16
RHCO
11/07/16
INITIATION
Target $15
RHCO
Buy
Hostess Brands initiated with a Buy at SunTrust
SunTrust analyst William Chappell initiated Hostess Brands with a Buy and a $15 price target .
11/07/16
RHCO
11/07/16
INITIATION
RHCO
Buy
Hostess Brands initiated with a Buy at SunTrust
SunTrust analyst William Chappell, Jr. says that Hostess' turnaround from bankruptcy has been "impressive," and he thinks that the company's management and infrastructure will enable it "to outpace the indulgent snacks category over the next few years." Calling the company's category "resilient," he thinks that it can meet its goal of gaining 50 basis points of market share per year. Target $15.
11/07/16
11/07/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alcoa (AA) initiated with a Buy at Citi, a Market Perform at Cowen, and an Overweight at Morgan Stanley. 2. Extraction (XOG) Oil & Gas initiated with an Overweight at Barclays, an Overweight at KeyBanc, a Sector Perform at RBC Capital, a Neutral at Citi, an Outperform at Wells Fargo, a Buy at SunTrust, and a Neutral at Goldman. 3. Hostess Brands (TWNK) initiated with a Buy at SunTrust and a Buy at SunTrust. 4. Sanofi (SNY) initiated with a Neutral at Goldman. 5. VimpelCom (VIP) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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