Notable News to Watch: Ashland Global Holdings Inc. (NYSE:ASH)

Ashland Global Holdings Inc. (NYSE:ASH) spotted trading -7.76% off 52-week high price. On the other end, the stock has been noted 6.27% away from the low price over the last 52-weeks. The stock changed 0.21% to recent value of $74.92. The stock transacted 619845 shares during most recent day however it has an average volume of 567.21K shares. The company has 61.16M of outstanding shares and 59.99M shares were floated in the market.

On Jan. 7, 2020, Ashland Global Holdings Inc. (NYSE:ASH) declared that it has commenced cash tender offers (the Tender Offers) for (i) Ashland LLC’s outstanding 4.750% Senior Notes due 2022 (the 2022 Notes) and (ii) Hercules LLC’s outstanding 6.600% Debentures due 2027 (the 2027 Debentures), Ashland LLC’s outstanding 6.875% Senior Notes due 2043 (the 2043 Notes) and Hercules LLC’s outstanding 6.500% Junior Subordinated Debentures due 2029 (the 2029 Debentures and, together with the 2027 Debentures and the 2043 Notes, the Waterfall Notes). The tender of the Waterfall Notes is subject to the order of priority and proration provisions set forth in the Offer to Purchase as described below. The 2022 Notes and the Waterfall Notes are together, the Existing Notes.  The Tender Offers are being made by the respective Ashland subsidiaries that issued the relevant series of Existing Notes.

The Tender Offers are being made upon the terms and conditions in the Offer to Purchase and related Letter of Transmittal dated January 7, 2020.  The Tender Offers will expire at 5:00 p.m., New York City time, on February 5, 2020, unless extended or terminated as described in the Offer to Purchase (such time and date, as they may be extended with respect to a Tender Offer, the Expiration Date).

The Tender Offer for the 2022 Notes is for the purchase of 2022 Notes having an aggregate purchase price of up to $575 million (excluding accrued and unpaid interest).  The Tender Offers for the Waterfall Notes are for the Waterfall Notes having an aggregate purchase price of up to $250 million (excluding accrued and unpaid interest).  The order of priority for the purchase of Waterfall Notes in the Tender Offers (the Acceptance Priority Levels) is shown in the table below, with 1 being the highest Acceptance Priority Level and 3 being the lowest Acceptance Priority Level, as further described in the Offer to Purchase.

It is possible that Ashland may not accept all Existing Notes tendered under the Tender Offers.  If the aggregate purchase price (excluding accrued and unpaid interest) of 2022 Notes tendered exceeds the $575 million, the Company will accept tendered 2022 Notes for purchase on a pro rata basis as described in the Offer to Purchase.  If the acceptance of all Waterfall Notes in the Waterfall Tender Offers would result in an aggregate purchase price (excluding accrued and unpaid interest) that exceeds the $250 million, tenders in respect of a series of Waterfall Notes will be subject to proration as described in the Offer to Purchase.

Its earnings per share (EPS) expected to touch remained 183.40% for this year while earning per share for the next 5-years is expected to reach at 5.67%. ASH has a gross margin of 30.30% and an operating margin of 6.90% while its profit margin remained 20.30% for the last 12 months.

According to the most recent quarter its current ratio was 1.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.35% from the mean of 20 days, -1.19% from mean of 50 days SMA and performed -1.93% from mean of 200 days price. Company’s performance for the week was -1.77%, 2.35% for month and YTD performance remained -2.10%.

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