Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
Bombardier Upgraded to B- by S&P on Deleveraging Efforts
Canadian plane manufacturer Bombardier was upgraded to B- from CCC+ with a stable outlook by S&P due to its deleveraging and strong business jet demand. S&P sees market conditions for aircraft OEMs to remain supportive due to tight supply for new aircrafts,...
Olam Agri Secures $2.9bn Facility to Refinance Existing Loans
Olam Agri secured a $2.9bn facility with a 3Y tenor to refinance its existing loans, and for other corporate objectives. The loan is based on Poseidon Principles, a framework for including climate considerations into lending decisions to encourage global shipping’s...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets started the week sharply lower on Monday with the S&P and Nasdaq down 2.1% and 2.6% respectively. Fears of a possible 75bp Fed rate hike are back on the table with the focus now on Fed Chair Powell’s speech at Jackson Hole on Friday. Sectoral...
Huarong’s Dollar Bonds Drop over 6% after Profit Warning
China Huarong's dollar bonds filled the losers list yesterday after the bad-debt manager was placed on review for a downgrade by Moody's. The rating action was taken in response to Huarong's $2.8bn loss warning last week for 1H 2022 where it said that credit...
Seazen Downgraded to BB; KWG Local Bondholders Seek Early Repayment
Seazen Group was downgraded to BB from BB+ by S&P, noting that its sales could "significantly decline due to its market positioning and weak homebuyer sentiment". The rating agency expects Seazen's sales to decline by 33-38% to RMB 145-156bn ($21.2-22.8bn) in...
Bed Bath Downgraded to CCC by S&P
US retailer Bed Bath and Beyond (BBBY) was downgraded to CCC from B- with a negative outlook by S&P on tightening liquidity, poor financials, and debt default worries. S&P sees low prospects of a turnaround in its business due to significant challenges amid...
China to Offer $29bn in Loans to Troubled Developers in its biggest Financial Commitment Yet
China plans to offer RMB 200bn ($29.3bn) in special loans to the troubled property sector, as per sources. These loans are meant to ensure that stalled housing projects are delivered to buyers. While the loan program was on the cards, the size and extent of it was...
Vodafone Agrees to Sell Hungarian Unit for $1.8bn
Telecom giant Vodafone has agreed on non-binding terms to sell its Hungarian unit for $1.8bn in cash. Hungarian 4iG and state-run Corvinus Zrt are the buyers in this cash deal which is to be completed by end-2022. The state will acquire a 49% stake via Corvinus while...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended weaker on Friday with the S&P and Nasdaq down 1.3% and 2% respectively. Sectoral losses were led by Consumer Discretionary declining 2.1%, followed by Financials falling 2%. US 10Y Treasury yields were 9bp higher at 2.99%. European markets...
