Evergrande’s Impending Default/Restructuring Sends Tremors Across Global Markets
Fears over China Evergrande sent tremors across global markets on Monday as equity indices trended lower and CDS spreads widened. Beginning in Asia, while Shanghai was closed due to a holiday, Hong Kong's HSI index ended 3.3% in the red with the impact spreading over...
R&F Properties’ Dollar Bonds Surge on $1bn Financing Support and $1.55bn Subsidiary Sale
R&F Properties' dollar bonds surged up to 15%, after the company is due to receive HKD 8bn ($1bn) in short-term financing from major shareholders, Chairman Li Sze Lim and CEO Zhang Li, over the next one to two months. As per the exchange filing, R&F is...
Dell Upgraded to Investment Grade Rating of BBB- by Fitch
Dell was upgraded to BBB- from BB+ by Fitch on its strengthened credit profile from "ongoing debt reduction and solid operating momentum". Dell's credit profile strengthened from the use of free cash flow (FCF) for debt reduction. The company reduced core debt by...
US Steel Upgraded to B by S&P
US Steel has been upgraded to B from B- with a positive outlook by S&P on debt reduction amid the strong cash flows due to the all-time high steel prices in 2021. Big River Steel has also been upgraded to B with a positive outlook following the upgrade of the...
Argentina’s Dollar Bonds Fall as New Cabinet Sworn in
Argentinian off-shore bonds slid on Monday as President Alberto Fernandez swore in new cabinet ministers to tide over the political impasse as an aftermath of the poor performance in the primary elections held on September 12. Argentina’s main opposition party had won...
Sinic Holdings Downgraded To ‘CCC+’ By S&P And Placed On CreditWatch Negative
China's Sinic Holdings has been downgraded to CCC+ from B by S&P and placed on CreditWatch Negative due to elevated payments risks on account of a lack of concrete payment plan for its $246mn 9.5% 2021s due in October despite the company having adequate sufficient...
APA and Brookfield Get Into a Bidding War to Buy AusNet
Aussie energy infrastructure company APA Group has made a non-binding offer to acquire regional peer AusNet Services for A$9.96bn ($7.23bn), soon after Canadian alternative asset manager Brookfield Asset Management's A$9.57bn ($6.95bn) offer. APA said that the...
Lenovo Planning Pivot Into Services to Boost Customer Base & Margins
The world's largest PC maker Lenovo Group is planning a pivot from hardware to software and services as it looks to grow its customer base and boost margins. Ken Wong, president of Lenovo's Solutions & Services Group (SSG) explained this in an interview to SCMP...
Last Traded Bond Prices by FINRA TRACE – Now on the BondEvalue App
What is TRACE? TRACE (Trade Reporting and Compliance Engine®) is the Financial Industry Regulatory Authority’s (FINRA) fixed income market real-time price reporting and dissemination service. Bond markets predominantly work on an over-the-counter (OTC) basis where a...
