SIA Trims Quarterly Loss to $106 Million on Better Operating Metrics
Singapore International Airlines (SIA) reported a S$142mn ($106.1mn) net loss for the quarter ended December as passenger carriage was down 97.6% YoY due to border controls and travel restrictions. The group suffered a 76.1% drop YoY in revenue as its revenue fell by...
Lufthansa Sells EUR Bonds Worth $1.9 Billion to Repay Bailout Debt
German flagship carrier Deutsche Lufthansa AG sold new bonds worth €1.6bn ($1.9bn) on Thursday to partly repay bailout debt from the government taken to tide through the pandemic last year. It raised: €750mn 4Y bonds at a yield of 3%, 345.3bp over Mid Swaps and 37.5bp...
Sritex’s Dollar Bonds Fall on News of Proposed Dollar Loan Extension
Indonesian textile and garment manufacturer Sri Rejeki Isman (Sritex) is said to have asked lenders of its dollar loan to extend the debt's maturity by two years to 2024, as reported by Bloomberg on Thursday. Joy Citradewi, head of corporate communications said that...
Alibaba, Fantasia Launch $ Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
While both S&P and Nasdaq ended almost unchanged, the energy sector rallied over 4.3% gaining the most. Alphabet soared ~8% on strong earnings while Amazon fell after Jeff Bezos said he will step down as CEO. US ADP non-farm payrolls printed at a better than...
IRFC Prices New 10Y Dollar Bond at 2.8% In Line With Existing Curve
Indian state-owned corporate Indian Railways Finance Corp (IRFC) raised $750mn via a benchmark 10Y bond at a yield of 2.8%, 167.5bp over Treasuries and 37.5bp inside initial guidance of T+205bp area. The bonds were rated Baa3/BBB-/BBB- in line with the issuer with...
Pertamina Raises $1.9 Billion via Two-Trancher; Sets Record for Lowest Coupon on an Indonesian Dollar Bond
Pertamina raised $1.9bn via a two-trancher Yankee offering. It raised $1bn via a 5Y bond a yield of 1.4%, or 40bp inside initial guidance of 1.8% area. It also raised $900mn via a 10Y bond at a yield of 2.3%, 40bp inside initial guidance of 2.7% area. The bonds have...
Evergrande Reports Largest Monthly Sales Jump in Jan Since 2018
The world's most indebted property developer Evergrande Group reported strong January sales at CNY 58.1bn ($9bn), a jump of 43% from the same period last year. This was their largest monthly increase since 2018, based on Bloomberg data. The company is targeting CNY...
Fitch Revises the Outlook on Kuwait to Negative from Stable
Fitch ratings has revised its outlook on the State of Kuwait to negative from stable while affirming its rating at AA. The lower outlook is based on the short term liquidity risk associated with reducing assets in the Arab state's state treasury fund (GRF) due to...
YPF Nudges Bondholders to Accept Revised Offer or Face Capital Loss
Argentinian energy company YPF warned of default as a creditor group rejected improved terms to its restructuring proposal for its bonds worth $6.2bn, calling it an unbalanced solution. Negotiations will extend closer to the February 12 deadline. YPF affirmed in a...
