Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
DP World, CDPQ Announce $5bn Investment via JV in Flagship UAE Assets
Marine terminal operator DP World and Canadian investment group CDPQ have announced an investment deal of $5bn in three of DP World’s key UAE assets. CDPQ will invest $2.5bn in the Jebel Ali Port, the National Industries Park, and the Jebel Ali Free Zone through a new...
Jiayaun Upgraded to CC by Fitch after Paying Coupon in Grace Period
Jiayuan Real Estate was upgraded to CC from C by Fitch after paying the coupons on its $200mn 12% bonds due October 2022 within the grace period that ended on June 2. Jiayuan had initially missed paying the coupon on the original date of April 30. However, despite...
Temasek Commits S$5bn for Separate ESG Company
Singapore based global investment company Temasek has announced the launch of GenZero, a wholly-owned investment platform company dedicated to accelerating decarbonization globally. To launch the company, Temasek has committed an amount of S$5bn ($3.6bn) as its...
Egypt’s Forex Reserves Fall to $35.5bn as Moody’s Keeps an Eye
Egypt's foreign exchange reserves fell by $2bn in May to $35.5bn after it paid back external debt, i.e., a coupon on its sovereign Eurobonds and a principal and interest payment on debt owed to the IMF. Egypt said that the remaining holdings are “within all adequacy...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets saw a downturn on Friday with the S&P and Nasdaq down 1.6% and 2.5%. Sectoral losses were led by Consumer Discretionary and IT, down over 2.5% each. US 10Y Treasury yields were 1bp higher to 2.92%. The Energy sector was the only gainer, up 1.4% -...
The Week That Was (30 May – 05 June, 2022)
US primary market issuances last week were at a $16.5bn vs. a mere $881mn in the week prior with Investment grade (IG) corporates issuing $9.8bn of deals and high yield (HY) saw $6.4b in deals. The largest IG deals were led by John Deere raising $1.5bn via a...
Modern Land China Files for Chapter 15 Bankruptcy
Modern Land China filed for Chapter 15 bankruptcy in New York on Friday, a move that allows the company to protect its US assets while implementing a restructuring elsewhere. This comes after the developer failed to repay a $250mn bond due in October 2021 and said it...
Emaar Properties, Malls Upgraded to BBB- by S&P
Emaar Properties PJSC and Emaar Malls were upgraded from BB+ to BBB- by S&P. It reported a record high presales revenue of AED 27.4bn ($7.5bn) in 2021 and continues to have a strong outlook for 2022-2023, with international revenue expected to climb at...
Allianz Takes $430mn Hit in Russian Exit
German insurer Allianz Group has agreed to sell a majority stake in its Russian business to Interholding LLC, the owner of Russian insurer Zetta Insurance. Post-transaction, Allianz will hold a minority stake of 49.9% in the combined entity subject to regulatory...
