by bondevalue | Jan 22, 2021 | India
Indian state-owned corporate Power Finance Corp (PFC) raised $500mn via a new long 10Y bond due May 2031, priced on Thursday at a yield of 3.35%, 40bp inside initial guidance of 3.75% area. The bonds, expected to be rated Baa3/BBB- in line with the issuer rating,...
by bondevalue | Jan 21, 2021 | High Yield Bonds, India
Indian regulator Securities and Exchange Board of India (SEBI) approved Reliance Retail’s (RRVL) acquisition of Future Retail on Wednesday after Amazon had earlier requested SEBI not to okay the deal. Indian stock exchange BSE granted a ‘no adverse observation’ report...
by bondevalue | Jan 20, 2021 | High Yield Bonds, India
Hedge Fund Kyma Capital, which holds shares in Vedanta Ltd. (Indian subsidiary of Vedanta Resources Ltd (VRL)) plans to lodge a complaint with the US SEC over $956mn in loans by Vedanta Ltd. to its parent, according to a source. The hedge fund founded by ex-Blackstone...
by bondevalue | Jan 19, 2021 | India
Delhi International Airport Limited (DIAL) had been downgraded by Fitch to BB from BB+ while maintaining a negative outlook. The downgrade of India’s largest airport comes on the back of low traffic volume in 2020 due to the pandemic and a prolonged recovery...
by bondevalue | Jan 19, 2021 | High Yield Bonds, India
French oil major Total SE announced on Monday that it has acquired a 20% stake in Indian renewable energy company Adani Green in a $2.5bn deal. The deal will give Total a 50% stake in Adani’s 2.35GW portfolio of solar assets and a seat on the company’s...
by bondevalue | Jan 18, 2021 | High Yield Bonds, India
Global e-commerce giant Amazon requested the Securities and Exchange Board of India (SEBI) not to give a no-objection certificate (NOC) to the Future Group-Reliance Retail deal since their case in the court still continues. Amazon had earlier got a Singapore court to...
