by Amruth Sundarkumar | Sep 22, 2022 | China, Financial Institutions
China’s big-4 asset management companies (AMCs) were downgraded by S&P upon challenging operating conditions due to China’s economic slowdown, market volatility and property sector troubles. Due to this S&P sees weakened earnings prospects. The...
by Amruth Sundarkumar | Sep 20, 2022 | Banks, China, Financial Institutions, Perpetual Bonds
Rising interest rates in the US, evident in US Treasury yields reaching decade highs, have compelled Chinese banks to call back their perpetual bonds (callable in September and October). Details can be seen in the table below: Given that the US 5Y yield has hit its...
by Amruth Sundarkumar | Jul 7, 2022 | Perpetual Bonds
An index of AT1 bonds issued by Asia ex-Japan issuers has fallen about 5.4% YTD as compared to an 18% slump in a Bloomberg index for global counterparts. This has also outperformed a 13.8% fall for all kinds of fixed-income securities globally. Bloomberg notes that...
by Amruth Sundarkumar | Feb 23, 2022 | Financial Institutions
Mexican lender Unifin is planning to issue Mexican Peso denominated bonds this week. The announcement came after investors raised concerns about the company’s ability to refinance its debt. Unifin is in talks to potentially expand its revolving credit lines and renew...
by Amruth Sundarkumar | Feb 21, 2022 | Financial Institutions, High Yield Bonds
Mexican lender Unifin bonds fell due to concerns among investors over the lender’s ability to tap the bond market and refinance debt due in 2023. The concerns came recently after Credito Real defaulted its franc-denominated bonds and Alpha Holdings reported an...
by Amruth Sundarkumar | Feb 18, 2022 | Financial Institutions
Allianz reported a net loss of €292mn ($332mn) in Q4 2021 while analysts expected a profit. Profit for the full year was at €6.6bn ($7.5bn), the lowest since 2013. Revenues during Q4 rose 7.9% to €38.4bn ($43.7bn). The insurer said it would set aside a pre-tax...
