PLS Group Ltd (ASX: PLS), New Hope Corp Ltd (ASX: NHC), and Viva Energy Group Ltd (ASX: VEA) shares a catching plenty of investor interest today.
Two of the large-cap S&P/ASX 200 Index (ASX: XJO) stocks are outpacing the 0.2% losses posted by the benchmark index in late morning trade on Thursday, while one of the ASX 200 stocks shares have been temporarily frozen.
Here’s what’s happening.
Viva Energy shares halted following refinery fire
Viva Energy shares are making headlines today following the outbreak of a fire last night at its Geelong refinery in Victoria. The refinery is one of two remaining operational refineries in Australia, and officials expect the incident could push fuel prices even higher across the nation.
Viva Energy shares entered a trading halt before market open today.
The ASX 200 energy stock requested the trading pause pending an announcement regarding the impact of the “significant” fire at its refinery.
CEO Scott Wyatt said that while fuel refining at Geelong would continue, it will initially be “very low relative to what we were doing before”.
According to Wyatt (quoted by The Australian Financial Review):
In the days ahead, we will look at how we can continue to operate the refinery without the need to use these two units that have been affected. We have operated in this way before, so we have a high degree of confidence that we can do that.
Paused at Wednesday’s closing price of $2.53, Viva Energy shares are up 65% over 12 months, not including dividends.
Which brings us toâ¦
PLS shares eyeing $847 in new funding
PLS â formerly known as Pilbara Minerals â is catching investor interest after announcing a new US$600 million (AU$847 million) debt funding issuance.
Shares in the ASX 200 lithium stock are up 3.7% at time of writing, trading for $5.59 each.
Management said that the initial offer size of the senior unsecured notes was increased by US$100 million from US$500 million. They come due in 2031 at an annual interest rate of 6.88%. PLS expects settlement next week, on 22 April.
The lithium miner intends to use to proceeds to refinance its AU$375 million drawn on revolving credit facility and for general purposes.
The PLS share price is up a blistering 308% in 12 months.
New Hope shares lift on refinancing deal
Atop PLS and Viva Energy shares, New Hope is also making financial headlines today.
Shares in the ASX 200 coal stock ae up 1.9% at $5.49 each after the company announced its own new funding arrangement.
The coal miner reported the launch of $300 million in senior unsecured convertible notes due 2032. New Hope said it will also repurchase of up to 100% of the existing $300 million convertible notes, which are due 2029.
The coupon rate for the new notes is set in the range of 2.38% to 2.88% per year.
“Through this transaction, we are proactively refinancing our 2029 notes at improved terms, extending our debt maturity profile and reducing our financing costs,” New Hope chief financial officer Rebecca Rinaldi said.
New Hope shares are up 54% in a year.
The post Why is everyone talking about New Hope, PLS and Viva Energy shares on Thursday? appeared first on The Motley Fool Australia.
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More reading
- Why the PLS share price just hit an all-time high
- Viva Energy shares frozen as overnight refinery fire puts fuel markets on edge
- Viva Energy share price halted pending update on Geelong Refinery fire
- PLS Group prices US$600m in senior notes for growth and refinancing
- New Hope launches $300m convertible notes offer and buyback
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.