Year End Summary | 2021 Highlights
The Team at BondEvalue would like to thank you for a fantastic 2021. We wish you a Happy New Year and may 2022 bring you joy and prosperity! Here is a compilation of some highlights from the year. Key Highlights Updates on the BondEvalue App Growth &...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended lower with the S&P and Nasdaq down 1.4% and 2.5% respectively. Most sectors were in the red led by IT and Consumer Discretionary down 2.7% and 2.1%. US 10Y Treasury yields were up 1bp to 1.75%. European markets were mixed with the DAX and...
Yuzhou Launches Exchange Offer for 2 USD Bonds; Consent Solicitation for 12 Bonds
Yuzhou Group launched an exchange offer to extend by the maturity of two USD-denominated bonds due in January by one year with new bonds. This is in order to avoid an outright default on the bonds. Yuzhou plans to exchange its $340mn 6% bond due January 25 and...
Evergrande Secures Payment Extension; Shimao Seeks Repayment Delay on ABS
Evergrande has secured a payment extension on its onshore puttable bonds issued by Hengda Real Estate after getting approval from its bondholders. 72.3% of its holders approved the proposal to extend the redemption and coupon payments on its RMB 4.5bn ($157mn) 6.98%...
R&F Properties (HK) Downgraded to SD by S&P
R&F Properties (HK) was downgraded by S&P to SD from CC on the back of the completion of its tender offer at a discount, and with a maturity extension, for its $725mn bond due January 13, 2022. S&P views the transaction as "distressed restructuring"...
UOB to Buy Citi’s Southeast Asian Biz in $3.6bn Deal
Citigroup Inc. announced on Thursday that it has agreed to sell its consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam to Singapore's United Overseas Bank (UOB) for S$4.9bn ($3.6bn). This comes close on the heels of Citigroup putting its Mexican...
Ukraine’s Dollar Bonds Slump on Worries over Potential Invasion
Ukraine's dollar bonds fell 3-5 points on fears about Russian military action against Ukraine. Russia had mobilized about 100,000 troops on Ukraine’s border and threatened “grave consequences” if its push for security guarantees from the US did not succeed, as per FT....
6 New $ Deals incl. CIMB, IRFC, CCB; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended higher with the S&P and Nasdaq up 0.3% and 0.2% respectively. Most sectors were in the green led by Materials, up 1% and Consumer Discretionary up 0.6%. US 10Y Treasury yields were up 1bp to 1.75%. European markets were also higher with the...
Sri Lanka Downgraded to CCC by S&P; CBSL Gov Says it Will Meet All Debt Repayments
Sri Lanka was downgraded to CCC from CCC+ by S&P reflecting continued deterioration in the nation's ability to maintain sufficient forex resources to meet external obligations. S&P said, "The Sri Lankan government faces increasingly likely default scenarios...
