by bondevalue | Aug 26, 2019 | Distressed / Defaulted Bonds
In June 2017, Argentina set a benchmark in the markets with its issuance of 100-year bonds. Investors’ orders stood at $9.75 billion for a final issue size of $2.75 billion on the century bonds that paid a coupon of 7.125% against a yield of 7.917%. Hardly 2 years...
by bondevalue | Jul 22, 2019 | Distressed / Defaulted Bonds, High Yield Bonds
Delta Merlin Dunia Textile (DMDT), an Indonesian textile manufacturer within the Sumitro family’s Duniatex group, had its bonds plummet by nearly 67 cents on the dollar last week in a shocking sell-off prompted by a missed loan payment by another group...
by bondevalue | Apr 26, 2019 | Distressed / Defaulted Bonds
China Minsheng Investment Group Corp (CMIG) reported that cross-default clauses have been triggered on its dollar bonds worth a total of US$800 million. These include US$300 million of debt that carries a standby letter of credit from China Construction Bank Corp...
by bondevalue | Jan 25, 2019 | Distressed / Defaulted Bonds
Hsin Chong Group Holdings, the Hong Kong construction company that built Ocean Park and the former Kai Tak Airport, has defaulted on its $150 million 8.5% USD bonds due on 22 January. The builder filed for provisional liquidation just before announcing the bond...
by bondevalue | Jan 16, 2019 | Distressed / Defaulted Bonds
PG&E Corp, owner of the biggest US power utility according to the number of customers, saw nearly all of its roughly $18 billion of bonds trade sharply lower earlier in the week after the company announced it was preparing to file for Chapter 11 bankruptcy...
by bondevalue | Dec 21, 2018 | Distressed / Defaulted Bonds, High Yield Bonds, Southeast Asia
As Noble Group’s restructuring took effect on 20th December, a total US$800 million in new money debt, comprising of the New Trading Finance Facility, the New Hedging Support Facility and the Increase Trade Finance Facility, has been made available to New Noble,...
