Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
APAC ex-Japan Sees Worst Issuance Volumes for the First Eight Months Since 2013
Issuance volumes from the APAC ex-Japan region during the first eight months of 2022 are at its lowest since 2013. Issuance volumes stood at $136.4bn during the period. With respect to quarterly volumes, while the third quarter is not yet over, the region is on track...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US 10Y Treasury yields fell 6bp to 3.2% and the 2Y yield was down 10bps to 3.38% after the US Non Farm Payrolls (NFP) data release on Friday. NFP for August came in at 315k, higher than projections of 298k and July’s 526k. The unemployment rate was at a six-month high...
The Week That Was (29 August – 3 September, 2022)
US primary market issuances saw nil issuances last week vs. a mere $2.4bn in the week prior. In North America, there were a total of 26 upgrades and 32 downgrades across the three major rating agencies last week. As per Lipper data, US IG funds saw $4.6bn in outflows...
Li & Fung Becomes a Fallen Angel after Downgrade to BB+ by S&P
Hong Kong-based supply chain and management company Li & Fung was downgraded to BB+ from BBB- with a stable outlook by S&P due to weakening business strength post the sale of its logistics unit in December 2021. The rating agency expects that the asset sale...
KWG Launches Consent Solicitation and Exchange Offer; Seeks Extension of Dollar Bonds due September
KWG Group has sought to swap at least 90% of the principal of its $650mn 6% 2022s and $250mn 5.2% 2022s with bonds maturing in January 2024, as per its exchange filing. It is also looking to exchange at least 80% of its $700mn 7.875% bonds due September 2023. For its...
UBS Scraps $1.4bn Wealthfront Deal
Swiss banking major UBS Group and US-based Robo-adviser Wealthfront have mutually terminated a $1.4bn deal which was expected to go through by 2H 2022. Earlier this year, UBS Americas announced that it would acquire Wealthfront in an all-cash transaction to expand...
CMA CGM Launches $1.5bn Energy Fund
French container transport and shipping company CMA CGM is launching a $1.5bn five-year investment fund to speed up its energy transition in shipping and logistics. The energy fund will aim to support the industrial production of new fuels and low-emission transport...
Chinese Property Sector Posts Worst Earnings Since 2008; CIFI’s Dollar Bonds Down 5% after Top-Up Placement at 12% Discount
China's property sector has produced its worst half yearly earnings season yet since 2008, as per Bloomberg's analysis of 136 developers. Net income across these companies dropped a massive 87% in during this period to a mere RMB 17.6bn ($2.5bn). The largest developer...
August 2022: High Yield Bonds Outperform Investment Grade Peers as Benchmark Rates Soar
The month of August was a tale of two divergent performances - 80% of all Investment Grade (IG) dollar bonds in our universe ended the month in the red and in contrast, 58% of High Yield (HY) ended the month higher. The credit risk focused junk bond segment thus...
