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Public Service Enterprise Group Incorporated (NYSE:PEG), a leading energy company with a market capitalization of $39 billion, announced the successful completion of a public offering of senior notes on Monday. According to InvestingPro data, the company currently maintains a debt-to-equity ratio of 1.42 and a current ratio of 0.65. The offering comprised $600 million of 4.900% Senior Notes due 2030 and $400 million of 5.400% Senior Notes due 2035, totaling $1 billion in aggregate principal amount. This debt issuance comes at a time when InvestingPro analysis shows the company’s short-term obligations exceed its liquid assets, making this offering strategically important for its capital structure.
The offering was conducted under an existing registration statement and facilitated by an underwriting agreement dated Sunday, March 6, 2025, with Barclays (LON:BARC) Capital Inc., Citigroup (NYSE:C) Global Markets Inc., Goldman Sachs & Co. LLC, and RBC Capital Markets, LLC acting as representatives of the underwriters.
The newly issued notes are governed by an indenture from November 1, 1998, between PSEG and U.S. Bank Trust Company, National Association, as successor trustee. The underwriting agreement, indenture, and the forms of each series of notes have been filed with the SEC and are incorporated by reference into the registration statement.
In connection with the notes offering, PSEG has also filed a legal opinion by John C. Walmsley, Associate Counsel of PSEG Services Corporation, confirming the legality of the notes. This opinion is included in the registration statement as well.
The completion of this offering represents a significant financial event for PSEG, allowing the company to raise capital for corporate purposes. The transaction details, including the underwriting agreement and the forms of notes, have been filed as exhibits to PSEG’s current report on Form 8-K and are publicly available for review.
This report is based on a press release statement and provides an overview of the key facts regarding PSEG’s senior notes offering. Based on InvestingPro’s Fair Value analysis, the stock appears slightly overvalued at current levels. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which provides detailed analysis of PSEG’s financial health and valuation metrics.
In other recent news, Public Service Enterprise Group Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share of $0.84, slightly above the forecast of $0.83. The company also achieved revenues of $2.46 billion, exceeding the anticipated $2.19 billion. Despite these positive results, the stock experienced a decline in pre-market trading. Public Service Enterprise Group has issued a 2025 non-GAAP operating earnings guidance range of $3.94 to $4.06 per share, indicating a potential 9% increase. The company plans a substantial investment of $4 billion in 2025, as part of a five-year capital spending plan ranging from $22.5 billion to $26 billion. The company targets a 5-7% non-GAAP operating earnings compound annual growth rate through 2029. Additionally, the company completed significant infrastructure projects, including smart meter installations. Analysts have shown interest in the company’s exploration of nuclear co-location opportunities and potential long-term nuclear output contracts.
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