by Amruth Sundarkumar | May 30, 2023 | Corporates, Perpetual Bonds
SoftBank Group has decided to call back its outstanding $2bn 6% Perp on its first call date of July 19. The bond is currently trading at 99.5, yielding 9.4% to call. SoftBank had recently issued JPY 222bn ($1.6bn) of local bonds and at the time, it said that part of...
by Amruth Sundarkumar | Dec 22, 2022 | Corporates, Financial Institutions, Perpetual Bonds
Macro Investment Grade Bonds High Yield Bonds Perpetual Bonds/AT1s China Real Estate CoCo/AT1 bonds just like the rest of the bond market, had a bad year. However, they fared much better than the equity market and investment grade bonds. For example, the US CoCo/AT1...
by Amruth Sundarkumar | Dec 6, 2022 | Corporates, Hong Kong, Perpetual Bonds
Lee & Man launched a buyback offer to purchase up to $130mn of its USD 5.5% Perps, by offering to pay $860 per $1,000 in principal amount. The purchase price came at a significant premium of ~10 cents on the dollar to its market price of 75.7 prior to the...
by Amruth Sundarkumar | Oct 26, 2022 | Corporates, Perpetual Bonds
San Miguel’s SMC Global Power has launched a buyback of up to $400mn of its outstanding senior perps, offering: $680 per $1,000 in principal for its 6.5% perps callable in 2024, which are currently trading at 67.29 $660 per $1,000 in principal for its 5.95%...
by Amruth Sundarkumar | Oct 14, 2022 | Corporates, High Yield Bonds, Perpetual Bonds
SMC Global Power’s perpetual dollar bonds dropped by over 10% yesterday. For instance, its SMC’s 5.7% Perp and 6.5% Perp fell by 10-14% to 66.95 and 71.85 cents on the dollar, yielding 19.96% and 31.12% to call. As per a report by Bloomberg Intelligence,...
by Amruth Sundarkumar | Feb 15, 2022 | Corporates, Singapore Dollar Bonds
As per an exchange filing, Singapore Press Holdings (SPH) said that the court has made an order allowing the company to hold the Cuscaden Peak scheme meeting. The court also granted SPH leave to withdraw its application to convene the meeting in relation to the Keppel...
