by Amruth Sundarkumar | May 4, 2023 | Corporates, High Yield Bonds
Ford Motor is expecting to see $1.5-2bn in restructuring charges for 2023 as part of its plans to exit unprofitable locations and reduce workforce. Ford has already indicated that it plans to cut one in nine jobs in Europe whilst also holding back operations in Brazil...
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 14, 2023 | Corporates
French government-owned utility company EDF has warned of a loss of €1bn at its nuclear reactors and hydro-electricity plants in the upcoming results. This follows a record loss of €17.9bn that it incurred in 2022 when it was plagued by reactor outages. As per...
by Amruth Sundarkumar | Apr 13, 2023 | Corporates, High Yield Bonds
Softbank is looking to sell nearly all of its remaining stake in Alibaba Group in a bid to take a more “defensive” position in a more uncertain business environment, as per FT. Softbank has divested about $7.2bn worth of Alibaba shares since the start of...
by Arundhati Behera | Mar 21, 2023 | China, Corporates
China Huarong Asset Management said that it is expecting a loss of RMB 27.6bn ($4bn) for 2022. The bad debt manager cited erosion in fair values of some of its equity assets on the back of volatility in the capital markets as reasons for the massive loss. This comes...
by Arundhati Behera | Mar 21, 2023 | Corporates, High Yield Bonds
WeWork’s dollar bonds jumped following the release of the co-working company’s extensive restructuring plan. After finalizing the terms last week, WeWork said that it will reduce total debt by ~$1.5bn through: Equitization of $1.04bn in its 5% unsecured notes held by...
