by bondevalue | Nov 30, 2018 | Financial Institution Bonds, Financial News, High Yield Bonds, India
Yes Bank Ltd. saw its dollar bonds tumble by a record amount after Moody’s Investors Service cut its credit ratings to sub-invesment grade level. The issuer’s foreign currency issuer rating was downgraded to “Ba1” from “Baa3”, and its...
by bondevalue | Aug 24, 2018 | Financial News, High Yield Bonds, India
Reliance Communications Ltd’s dollar bonds due 2020 that defaulted last year slumped to a seven-month low after the Indian mobile operator controlled by billionaire Anil Ambani offered in mid-August to repay holders at a discount to the principal value. The...
by bondevalue | Jan 22, 2018 | Financial News, High Yield Bonds, HomePage, India
Tata Steel (Ba3/BB–/BB) has raised US$1.3 billion, in $300 million of 5.5-year paper at 4.45% and $1 billion of 10-year paper at 5.45%, to refinance its offshore obligations, which will help de-risk its balance sheet as well as enhance financial flexibility. This...
by bondevalue | Nov 9, 2017 | Financial News, High Yield Bonds, HomePage, India
Reliance Communications, the Indian mobile phone operator controlled by billionaire Anil Ambani, has missed a US$9.75 million coupon payment on its US$300 million of 6.5% bonds due November 2020. As a result, the cash price on the bonds plunged to a record low of...
by bondevalue | Jun 14, 2017 | Financial News, High Yield Bonds, India, India, Investment Grade Bonds
As per the new norms issued by the Reserve Bank of India, Masala bonds are required to have a minimum maturity of 3 years which is to be extended to 5 years if the issuer intends to sell them for a sum greater than $50 Million. The RBI has also capped the coupon rates...
by bondevalue | Jun 9, 2017 | Banks, Credit Ratings, Financial News, High Yield Bonds, India
Reliance communication has issued a statement protesting the latest round of downgrades carried out by rating agencies. The main argument put forth is that the downgrades do not reflect the ongoing strategic discussions with Aircel and the sale of the tower business....
