LGFV Funding Access Tightened by Beijing

LGFV Funding Access Tightened by Beijing

Chinese regulator CBIRC has issued a guideline called the No. 15 document to regulate financial institutions' involvement in Local Government Financing Vehicles’ (LGFVs) debt financing activities, according to mainland media. While the document is not on its website,...

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Morgan Stanley Reports Strong Q2 Results

Morgan Stanley Reports Strong Q2 Results

Morgan Stanley reported strong Q2 results with net income of $3.5bn vs. $3.2bn for the same period a year ago. Investment banking saw revenues of $2.38bn, up 16% YoY. While fixed income revenues dipped 45% YoY to $1.68bn, its equities trading revenues were up 8% to...

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Vedanta Calls off Consent Solicitation

Vedanta Calls off Consent Solicitation

Indian commodity giant Vedanta Resources called off the proposed consent solicitation for its $1bn 13.875% 2024s and $1.2bn 8.95% 2025s after a pushback from its lenders, according to IFR. The conglomerate had attempted to change the terms of its offshore bonds...

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Carnival Plans Bond Issuance to Buyback Debt

Carnival Plans Bond Issuance to Buyback Debt

Cruise operator Carnival Corporation is looking to issue new dollar bonds. Initial price talks are in the range of 4-4.125% area. Proceeds will be used to fund the buyback of up to $2bn of its outstanding 11.5% 2023s via a tender offer that was launched last week....

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