Magellan Health Closes $400 Mln Senior Notes Offering Due 2024

Magellan Health Closes $400 Mln Senior Notes Offering Due 2024

Magellan Health (MGLN) has completed a public offering of $400 million aggregate principal amount of its 4.40% senior notes due 2024. The notes were issued on Sept. 22 at a public offering price of 99.809%, and bear interest at 4.40%. The interest rate is subject to adjustment should the notes S&P rating fall below BBB-. The first interest payment for the notes will be March 22, 2018, and the notes […]

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American International Group Changes Organizational Structure

American International Group Changes Organizational Structure

American International Group (AIG) said Monday that it is planning to make changes to its organizational structure, which aims to maximize its global platform by empowering its local geographies. The company said that it will no longer have Commercial and Consumer segments, and will transition to: General Insurance, led by Peter Zaffino, as CEO; Life & Retirement, led by Kevin Hogan, CEO; and a stand-alone, technology-enabled platform, led by Seraina […]

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NewLink Genetics, AstraZeneca To Study Drug Combination In Pancreatic Cancer Patients

NewLink Genetics, AstraZeneca To Study Drug Combination In Pancreatic Cancer Patients

NewLink Genetics (NLNK) said Monday it will collaborate with AstraZeneca (AZN) to evaluate the combination of indoximod and durvalumab along with standard of care chemotherapy in the treatment of metastatic pancreatic cancer. Indoximod is NewLink Genetics’ small molecule IDO pathway inhibitor and durvalumab is AstraZeneca’s anti-PD-L1 monoclonal antibody. Chemotherapy is the standard of care treatment. A placebo-controlled phase 2 study will evaluate the efficacy and safety of the drug combination […]

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BNP Says Hurricane-Related Data Disruption Unlikely to Be Resolved Before Fed December Meeting

BNP Says Hurricane-Related Data Disruption Unlikely to Be Resolved Before Fed December Meeting

BNP said they see data likely to be disrupted by the hurricanes, and the uncertainties surrounding the inflation outlook are unlikely to be resolved before the December Federal Reserve meeting, but the “committee is sending a fairly strong signal that they could look through the data disruptions as the majority continue to expect one more hike this year,” they said. Admittedly, BNP said they feel nervous about their forecast for […]

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Treasuries End in Full Bear Flattener After FOMC Seen as Hawkish

Treasuries End in Full Bear Flattener After FOMC Seen as Hawkish

After opening in the usual holding pattern with 10Y yields just inside the 100-day moving avg of 2.24%, Treasuries ended in a full bear flattener after a “hawkish” FOMC announcement. Prior to the announcement, Treasuries were confined to a tight range with small real money short cover spotted in December 10Y on the open followed by small trading type accounts doing 5/30Y steepeners while real money sold MBS to buy […]

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