Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
Ecuador’s Dollar Bonds Drop over 10% Last Week
Ecuador’s dollar bonds have fallen over 10-12% in the past week as protests by indigenous groups have erupted. In 2020, the country defaulted on debt and faced a similar political chaos. These groups are demanding more energy subsidies and price controls of basic...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended sharply lower on Thursday with the S&P and Nasdaq down 3.2% and 4.1% Sectoral losses were led by Energy, which tanked 5.58% and Consumer Discretionary that fell 4.8%. US 10Y Treasury yields fell 13bp to 3.24% as risk-off took over the...
Credit Suisse Prices $1.65bn PerpNC5.5 AT1 at 9.75%
Credit Suisse raised $1.65bn via a PerpNC5.5 AT1 bond at a yield of 9.75%. The bonds were launched at an initial guidance of 9.75% area. The junior subordinated notes are rated B+/BB (S&P/Fitch), lower than the issuer's ratings of Baa1/BBB/BBB+...
Greenland Wins Approval to Extend 2022s by One Year; South City Opens Consent Solicitation
Chinese property developer Greenland Holding gained bondholders' consent to extend the maturity of a $488mn 6.75% bonds maturing on June 25, 2022 by one year. 66% of the bondholders voted in favor of it, where the bond only required a majority approval. Greenland...
Revlon Files for Bankruptcy; Downgraded to D by S&P
Struggling American cosmetics major Revlon, has filed for Chapter 11 bankruptcy protection and consequently faces delisting from the New York Stock Exchange. Financial Times notes that this is the consequence of a severe downturn in the beauty industry during the...
US HY Funds See Largest Weekly Outflows since March 2020
US High Yield (HY) and Investment Grade (IG) funds have seen sharp bouts of outflows in recent times with the massive volatility in bond markets. EPFR data shows that for the week ended Jun 15, US HY funds witnessed $6.6bn in outflows, the highest since March 2020...
Pakistan Hikes Fuel Prices in Effort to Secure IMF Funding
Pakistan hiked fuel prices by 29% in an effort to control the fiscal deficit and reduce fuel subsidies to be able to secure an IMF package. Since May, the government has increased fuel prices three times including the latest one where petrol prices rose by PKR...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets jumped higher on Wednesday with the S&P and Nasdaq up 1.5% and 2.5% respectively. Sectoral gains were led by Consumer Discretionary, up 3% and Communication Services, up 2.4%. US 10Y Treasury yields fell 5bp to 3.37%. While the US Fed hiked by...
Fed Hikes by 75bp; Indicates 50-75bp Hike in July
The US Federal Reserve hiked its fed funds policy range by 75bp to 1.5-1.75% with Chairman Jerome Powell indicating that another hike of 50-75bp is likely in July. The rate hike magnitude was the biggest increase in any meeting since 1994. Powell added, “Clearly,...