by Amruth Sundarkumar | Apr 18, 2023 | Corporates, India
Adani Group has repaid $3bn in pledges and bonds over the first quarter of the year, sources noted. They said that proceeds from its $1.88bn equity funding by GQG Partners and an additional $1bn from the promoter-group were used to release a substantial part of the...
by Amruth Sundarkumar | Apr 17, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields jumped higher across the curve, led by the 2Y yield that rose 14bp while the 10Y rose 7bp. The peak Fed funds moved 7bp higher to 5.08% for the June meeting with the probability of a 25bp hike in the May meeting now at 81% vs. 68% last week. While...
by Amruth Sundarkumar | Apr 17, 2023 | High Yield Bonds, Interest Rate Trends, Investment Grade Bonds
US primary markets saw $10.3bn in new deals last week as compared to $16.8bn in new deals a week prior to it. Of the deal volumes, IG issuers raised $8.5bn in new issuances led by Walmart that raised $5bn via a five-tranche issuance and American Honda Finance’s...
by Amruth Sundarkumar | Apr 17, 2023 | Sovereign Bonds, Sovereigns
Pakistan’s dollar bonds were higher by over 1.5 points across the curve after it said that the UAE has provided assurance on a $1bn loan. This takes the sovereign closer to an IMF loan deal to avoid a default. Pakistan’s Finance Minister had confirmed...
by Amruth Sundarkumar | Apr 17, 2023 | High Yield Bonds, India
Vedanta Ltd. is said to have asked Barclays to syndicate an INR 15bn ($183mn) loan to repay existing debt, for capital expenditure, general corporate purposes as well as related expenses. As per ET, the loan will have a first exclusive charge over the fixed assets of...
