Calpine Corp. (NYSE:CPN) announced earlier this month the closing of a $1.0 billion senior secured revolving credit facility. Goldman Sachs Bank USA (“GS Bank”) acted as the sole book-runner for the transaction. The revolving credit facility replaces Calpine’s existing senior secured revolving facility included under its existing senior secured term loan and revolving credit agreement and will be utilized for Calpine’s and its subsidiaries’ working capital requirements and other general corporate purposes. The revolving credit facility will mature on December 10, 2015. All amounts outstanding under this $1.0 billion revolving credit facility will bear interest at either (i) the Base Rate plus 200 basis points or 225 basis points, or (ii) at Libor plus 300 basis points or 325 basis points in either case based upon leverage based pricing grid.
Calpine Corporation, an independent wholesale power generation company, engages in the ownership and operation of natural gas-fired and geothermal power plants in North America. It generates electricity and produces steam from natural gas-fired combustion and renewable geothermal facilities.
Developers Diversified Realty Corp. (NYSE:DDR) declared its fourth quarter 2010 Preferred Class H stock dividend of $0.460938 per depositary share and Preferred Class I stock dividend of $0.46875 per depositary share. Each Class H depositary share is equal to one-twentieth of a share of Developers Diversified's 7.375% Class H Cumulative Redeemable Preferred Stock. The declared Preferred Class H dividend covers the period beginning October 15, 2010 and ending January 14, 2011. The declared Preferred Class H Dividend is payable January 18, 2011 to shareholders of record at the close of business on December 30, 2010. Each Class I depositary share is equal to one-twentieth of a share of Developers Diversified's 7.5% Class I Cumulative Redeemable Preferred Stock.
Developers Diversified Realty Corporation (NYSE:DDR) operates as a real estate investment trust (REIT) in the United States. The company engages in acquiring, developing, redeveloping, owning, leasing, and managing shopping centers, mini-malls, and lifestyle centers. As of February 5, 2007, it owned or managed approximately 461 shopping centers and 7 business centers, as well as 1,170 acres of undeveloped land.
Orofino Gold Corp. engages in acquisition, exploration, and development of gold properties in Mexico and Colombia. Orofino Gold has an option to acquire properties in the Sur de Bolivar Department of Colombia South America.
Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets. Orofino Gold is please to report that the Board Of Directors have appointed Mr. Ning Shi Long as Chairman of the Board and Executive Director. Mr. Ary Fernando Pernett Marque has been appointed as the new President/CEO & Executive Director of ORFG.
Mr. Pernett will be responsible for all affairs of Orofino Gold in Colombia. Mr. Pernett has 30 years of experience working in the Colombian Mining sector and will over the near term choose his new development team to assist in the development of Orofino Gold’s Senderos de Oro gold camp in the Sur de Bolivar Colombia.
The new team will now aggressively pursue other known Gold occurrences in the companies Senderos de Oro Gold Camp while the development team works to improve production at La Azul Mine. The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of Orofino Gold. His resignation is effective immediately. Orofino Gold wish him well and success in future endeavors.
Orofino Gold and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, Orofino Gold’s legal counsel as well as Discovery Consultants, (The Qualified 43-101 team) Canada, as they have in the past.
Orofino Gold Corp. is a US (Nevada) company established for the purpose of creating a significant exploration and mining group operating in Colombia.
The major criteria for selection of properties will include:
- Significant historical production
- Favorable geology for hosting major ore bodies
- Significant property area for large target exploration
- Recent results available
- Favorable infrastructure and access to allow mine development
- Receptive local government and populace.
- In addition Orofino has acquired a database comprised of exploration and mining results from previous operators who left when the global mining sector experienced a major downturn in the 1997-2000 time frame.
All properties meet the criteria outlined above.
The second part of ORFG's strategy to become a recognized player in the Colombia mining sector was the acquisition of an interest in an operating mine. ORFG has acquired a 55% interest in the La Azul/La Estrella property with the rights to acquire up to 80%.
To learn about ORFG visit: http://www.orofinogold.com
PolyOne Corporation (NYSE:POL) a premier global provider of specialized polymer materials, services and solutions, announced this month the appointment of Daniel J. O'Bryon to corporate officer, serving as vice president and treasurer. Among other responsibilities, O'Bryon will supervise all aspects of the company's credit structure, cash management and insurance, as well as support potential future capital markets transactions. Since 2006, O'Bryon has served as finance director of PolyOne Distribution. Previously, he spent 10 years with Moen Incorporated, most recently in the role of divisional controller. O'Bryon earned a bachelor's degree in physics and business administration from Houghton College and a master's degree in business administration from Loyola College. He serves as a trustee on the Board of Directors of Youth Challenge and is the national liaison on the local board of Financial Executives International (NYSE:FEI).
PolyOne Corporation provides specialized polymer materials, services, and solutions with operations in thermoplastic compounds, specialty polymer formulations, color and additive systems, thermoplastic resin distribution, and specialty polyvinyl chloride (PVC) resins. The company International Color and Engineered Materials segment offers color and additive masterbatches, and engineered materials.
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