J M Smucker Co
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Consumer Staples : Food Products | Mid Cap ValueCompany profile

The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company's segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company's U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America. In the U.S. retail market segments, the Company's products are sold to food retailers, food wholesalers, drug stores, club stores, mass merchandisers, discount and dollar stores, military commissaries, natural foods stores and distributors, and pet specialty stores. In International and Foodservice, the Company's products are distributed domestically and in foreign countries through retail channels and foodservice distributors and operators, such as restaurants, lodging, schools and universities, healthcare operators.

Closing Price
$120.70
Day's Change
1.44 (1.21%)
Bid
--
Ask
--
B/A Size
--
Day's High
121.42
Day's Low
119.36
Volume
(Average)
Volume:
708,985

10-day average volume:
777,510
708,985

PG&E secures $5.5 billion in DIP financing to fund operations through bankruptcy

8:00 am ET January 22, 2019 (MarketWatch)
Print

PG&E Corp. (PCG) disclosed Tuesday that it has entered into a commitment letter for $5.5 billion in debtor-in-possession (DIP) financing from J.P. Morgan Chase & Co. Bank of America Corp. (BAC), Citigroup Inc. (C) and Barclays PLC (BARC.LN), ahead of the utility company's planned bankruptcy filing (http://www.marketwatch.com/story/pge-to-file-for-bankruptcy-due-to-california-wildfires-2019-01-14) on Tuesday. PG&E expects the DIP financing will provide it with "sufficient liquidity to fund its ongoing operations. The company expects the Chapter 11 cases to take about two years. The DIP financing is in the form of a $3.5 billion revolving credit facility, a $1.5 billion term loan and a $500 million delayed draw term loan facility. PG&E's bankruptcy filing comes as it faces more than $30 billion in potential liability related to itsrole in the recent California wildfires (http://www.marketwatch.com/story/pge-bankruptcy-the-first-major-corporate-casualty-of-climate-change-2019-01-18). The stock slipped 0.4% in premarket trade. It has plunged 85% over the past three months through Friday, while the Dow Jones Utility Average has slipped 4.8% and the Dow Jones Industrial Average has declined 2.4%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 22, 2019 08:00 ET (13:00 GMT)

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