by bondevalue | May 7, 2021 | High Yield Bonds
General Motors (GM) reported strong Q1 earnings with revenues of $32.5bn, almost unchanged vs. the same period last year while net profits stood at $3bn compared to $294mn last year. The net income and EBIT margins saw a significant improvement at 9.3% and 13.6% in...
by bondevalue | May 7, 2021 | High Yield Bonds
Brazil’s airline Gol raised $300mn via a tap of its bonds due 2026, increasing the sale size from the initially planned $200mn. The 2026 bonds were originally issued in a $200mn private placement in December last year. The tap was priced at par after initial price...
by bondevalue | May 7, 2021 | High Yield Bonds
Hong Kong flag carrier Cathay Pacific is sounding out investors for a potential dollar denominated bond, its first in about 25 years as per Reuters. The airline has hired Bank of China (Hong Kong), Citigroup, HSBC and SMBC Nikko as joint lead managers and joint...
by bondevalue | May 7, 2021 | China, High Yield Bonds
Bonds of Chinese property developer Sichuan Languang dropped further after Moody’s downgraded it to B2 citing a low liquidity buffer, especially as the company has large upcoming debt maturities in the next 12-18 months. The 11% 2022s issued by subsidiary Hejun...
by bondevalue | May 6, 2021 | Southeast Asia
UOB reported strong Q1 numbers with net profits up 18% YoY and 46% QoQ to S$1bn ($750mn). The bank said that fee income grew to a record high of S$638mn ($478mn) led by wealth management fees from investments and bancassurance similar to peer DBS which reported...
by bondevalue | May 6, 2021 | High Yield Bonds
Fiat owner Stellantis announced that it will no longer be buying emission credits from Tesla, which could impact the Elon Musk led carmaker’s future earnings. Tesla earned $518mn from the sale of these credits in Q1 that translated into net profits of $438mn....
