Southwestern Energy's (SWN) Ratings Affirmed by Fitch; Outlook Stable
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Go back to Southwestern Energy's (SWN) Ratings Affirmed by Fitch; Outlook Stable
January 15, 2015 6:16 AM EST
Southwestern Energy (NYSE: SWN) priced its previously announced concurrent underwritten public offerings of 26,086,957 shares of its common stock at a price of $23.00 per share and 30,000,000 depositary shares, each of which represents a 1/20th interest in a share of Southwestern Energy's 6.25% Series B Mandatory Convertible Preferred Stock (the "Convertible Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to a $50 liquidation preference per depositary share), at a price of $50 per depositary share on January 14, 2015. The offerings were upsized from the previously announced offerings of 20,260,000 shares of Southwestern Energy's common stock and 26,000,000 depositary shares. The net... More
January 14, 2015 2:34 PM EST
(Updated - January 14, 2015 2:40 PM EST)
Oil stocks were on watch Wednesday as WTI and Brent advanced, marching higher by 5%. Gains followed the release of Fed's Beige Book.
In a statement to Bloomberg, Citi energy analyst Tim Evans said gains are "inspired by the assumption that prices have fallen as much as they need to fall given market conditions."
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