On Monday, Shares of Energy Transfer Equity, L.P. (NYSE:ETE), added 6.13% and closed at $11.77. The last trading range of the stock ranges between $10.84 11.81.
BG Group (BG.L) and Energy Transfer Equity, L.P. (ETE) and Energy Transfer Partners, L.P. (ETP) declared that the Lake Charles LNG Project has received approval from the US Federal Energy Regulatory Commission (FERC) to site, construct and operate a natural gas liquefaction and export facility in Lake Charles, Louisiana. FERC approval was a key remaining regulatory consent for the Lake Charles LNG Project.
With a conditional authorization from the US Department of Energy to export up to 2 billion cubic feet of natural gas per day (or about 15 million metric tons of LNG per annum), the Lake Charles LNG Project is predictable to be one of the largest LNG export initiatives in the United States. The technology chosen for the project, which comprises aero derivative turbines with selective catalytic reduction, is designed to make it one of the most efficient and cleanest operating LNG facilities in the world, with air emissions predictable to be well below US and state limits.
Gramercy Property Trust Inc. (NYSE:GPT), declined -3.65% and closed at $7.65 in the last trading session. The company’s market capitalization is $439.88M.
Gramercy Property Trust declared that it has accomplished its merger with Chambers Street Properties (“Chambers Street”; and together with Gramercy, collectively, the “Combined Company”) and, in connection therewith, the Combined Company reached a new senior unsecured credit facility (the Facility) with J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Joint Bookrunners and Joint Lead Arrangers, Wells Fargo Securities, LLC, U.S. Bank National Association and Royal Bank of Canada, as Joint Lead Arrangers, JPMorgan Chase Bank, N.A., as Administrative Agent, and Bank of America, N.A., as Syndication Agent. The Facility comprises of an $850 million senior unsecured revolving credit facility (the “Revolving Credit Facility”), a $300 million three-year term loan (the “3 Year Facility”) and a $750 million five-year term loan. The Revolving Credit Facility has an initial term of four years with an option for a one-year extension and the 3 Year Facility has an initial term of three years with an option for a one-year extension. The Facility replaces the previous unsecured credit facilities issued to Gramercy and Chambers Street. The combined company also reached a new $175 million seven-year senior unsecured term loan with Capital One, National Association as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent that replaces Chambers Street’s former seven-year term loan facility.
Shares of Marriott International, Inc. (NASDAQ:MAR), ended its last trade with 0.09% gain, and closed at $65.17. The average Volume of the company is at 2,883,580. The EPS of the company stands at $3.06.
Marriott International together with the owner and development partnership led by RIDA Development Corp. and Ares Administration, L.P., declared recently the closing of a $500 million construction loan from Wells Fargo Bank as lead agent for construction of the two million square foot and 1,500 room Gaylord Rockies Resort and Convention Center in Aurora, Colorado. The hotel is planned to be accomplished in late 2018.
The eight bank consortium comprised co-lead agents Bank of America and Bank of Nova Scotia, in addition to Sumitomo Mitsui Bank, Credit Agricole, CIT Financial, MidFirst Bank and US Bank.
Simultaneous with the closing of the construction loan, a $530 million guaranteed maximum price construction contract was reached with Mortenson Construction and WELBRO Building Corporation. The loan closing and entry into the construction contract will allow the project to start vertical construction, which is predictable to result in the hiring of more than 10,000 construction workers.
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