Each one in plain English, with the numbers worked through for a shareholder.
11 Feb 2016substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP disclosed a new substantial SOUTHWESTERN ENERGY CO shareholding (8.98% of votes).
Viking Global Investors LP, Viking Global Performance LLC, Viking Global Equities LP, Viking Global Equities II LP, VGE III Portfolio Ltd., Viking Long Fund GP LLC, Viking Long Fund Master Ltd., Viking Global Opportunities GP LLC, Viking Global Opportunities Portfolio GP LLC, Viking Global Opportunities Liquid Portfolio Sub-Master LP, O. Andreas Halvorsen, David C. Ott, Daniel S. Sundheim disclosed a new substantial SOUTHWESTERN ENERGY CO shareholding (9.20% of votes).
On November 17, 2015 Southwestern took out a $750 million unsecured three-year term loan from Bank of America and other lenders, borrowed in full that day. The press release says the money was used to pay down its existing credit facility and commercial paper, moving existing debt rather than adding new debt. The same filing notes a new automatic shelf registration replacing the one that expired November 13, 2015; the company says it was not filed for any specific offering.
On April 15, 2015 Southwestern repaid the full $500 million two-year term loan from December 2014, using proceeds from selling its northeastern Pennsylvania gathering assets and revolver borrowings. That sale closed April 10, 2015 with net proceeds of about $488.3 million (subject to post-closing adjustments), which continues the plan to pay down the Chesapeake acquisition financing.
Capital Research Global Investors ** reported a SOUTHWESTERN ENERGY CO shareholding of 47,099,944 shares (12.20% of votes) in a periodic institutional filing.
Southwestern sold $2.2 billion of senior notes (3.300% due 2018, 4.050% due 2020, 4.950% due 2025), closing January 23, 2015 with net proceeds of about $2,179 million. The money repaid all of the $4.5 billion bridge loan from the Chesapeake deal and will repay part of the revolving credit facility, replacing short-term borrowing with longer-term debt.