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...
by Amruth Sundarkumar | Feb 17, 2022 | Financial Institutions
American International Group Inc. (AIG) reported its seventh consecutive quarterly earnings beat with an adjusted after tax income of $1.3bn or $1.58/share, up 57% YoY and beating analyst estimates of $1.19 as per a Bloomberg survey. Its General Insurance combined...
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...
by Megha Malhotra | Feb 7, 2022 | Corporates, India
Tata Steel reported a 2.5x YoY jump in net profits to INR 95.7bn ($1.3bn) for the quarter ended December. Consolidated revenues stood at INR 608bn ($8.1bn), up 45% YoY. With improved steel demand on the back of an economic and commodity recovery, the company said that...
by Amruth Sundarkumar | Feb 3, 2022 | Perpetual Bonds, Singapore Dollar Bonds
The takeover of ARA Asset Management by ESR Cayman has triggered a change of control (CoC) event on ARA’s dollar bonds. ARA’s S$300mn 5.2% Perp would see a 300bp coupon step-up from July 19 due to the CoC, which is also the Perp’s first call date....
