Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
Vedanta Declares First Interim Dividend in New Financial Year Worth $830mn
Vedanta Ltd.'s board declared its first interim dividend for the financial year 2023-24 of INR 18.5/share ($0.22) totaling ~$800mn. Vedanta Ltd. declared five interim dividends in the financial year 2022-23 totaling ~$4.6bn. The news is a positive for the parent...
Luftansa Upgraded to Ba1 by Moody’s
Luftansa was upgraded to Ba1 from Ba2 by Moody's upon a "very swift deleveraging path over the last 12 months". Luftansa's adjusted gross debt/EBITDA has improved significantly from a negative number in 2021 to 4.2x as per the TTM ended March 2023 thanks to from a...
AIG to Offload Reinsurance Business for $3bn
AIG has said that it will sell its entire reinsurance business to RenaissanceRe Holdings for about $2.99bn. AIG will receive $2.74bn in cash and $250mn in common stock for its Validus Re, AlphaCat and Talbot Treaty reinsurance businesses. The offloading of its...
Macro; Rating Changes; New Issues; Talking Heads; Gainers and Losers
US Treasury yields were stable on Friday. US debt ceiling talks were said to have been halted over the weekend, with concerns again focusing on default fears. On Sunday, however, there was news that further talks will be held today between President Joe Biden and...
The Week That Was (15 – 21 May, 2022)
US primary markets saw a near doubling in new deals last week at $64.8bn as compared to $37.5bn in deals a week prior to it. This was largely attributed to Pfizer's jumbo $31bn eight-tranche issuance, the fourth largest bond deal ever, to finance a portion of its...
Barclays Upgraded to BBB+ by S&P
Barclays was upgraded to BBB+ from BBB by S&P citing its "business diversification and resilient performance". Barclays has a "solid earnings outlook" given its strategic and geographical diversification alongside peaking interest rates. S&P expects the bank's...
Chinese Property Sector Worries Hit IG-Rated Names like GLP and Longfor
GLP China offers one of the highest yields among IG-rated Chinese dollar bonds. GLP is primarily a real estate logistics company that has also expanded to investment management, data centers and renewable energy. The company, while rated BBB- by S&P and Fitch, was...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US Treasury yields continued to soar higher across the curve with by 9-11bp. Dallas Fed President Lorie Logan, an FOMC voting member came out stating that there is no clear case yet to be made for keeping Fed policy rates on hold. Also, positive economic data prints...
Credit Suisse Bondholders Ask Swiss Regulator for AT1 Decree
Credit Suisse’s bondholders have now forced FINMA, the Swiss regulator that ordered the write-off of its notes, to disclose details on the order. This comes after bondholders holding ~$4.5bn of its AT1s filed a lawsuit having been left in the dark regarding the...
