Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
China Property Crisis Sees 34 of Top 50 Developers Default
China's property market crisis has seen 34 of its top 50 private-sector developers defaulting on its offshore debt, as per Bloomberg. The remaining 16 including the likes of COGARD have $1.48bn in onshore and offshore bond payments in September, the highest monthly...
August 2023: 64% of Dollar Bonds Trade Weaker as Soft Landing Theme Continues
The month of August was a poor one for bond markets with dollar bonds ending lower across the board. There was not much to separate the performance of investment grade and high yield bonds. In August, 66% of IG bonds ended in the red compared to 65% of HY bonds that...
NWD’s Dollar Bonds Reverse Some of Its Losses
New World Development's (NWD) dollar bonds staged a recovery after a sharp sell-off last week. After rumors that NWD “had pledged its projects” to obtain financing saw their bonds crash, a spokesperson for the company said that the allegations were untrue. The...
NFP at 187k, ISM Manufacturing PMI Continues to Show Contraction
The US Treasury yield curve bear steepened with long end yields moving higher - the 10Y and 30Y yields were up 7-9bp while the 2Y and 5Y yields were up 1-4bp. US NFP for August came at 187k, higher than the surveyed 170k and at the same level as last month's 187k....
Tata Steel in Advanced Talks with UK Government for Funding
Tata Steel is said to have been in advanced talks with the British government for the latter providing £500mn ($630mn) in funding aid. The above funding would be in addition to £700mn ($881mn) from Tata Steel's Indian parent into the Port Talbot steelworks plant in...
China Takes Steps To Ease Real Estate Concerns
China has taken steps to allow its largest cities to cut down-payments for homebuyers whilst also encouraging lenders to lower existing mortgage rates. The minimum down-payment will be uniformly set at 20% for first-time buyers and 30% for second-time buyers, as per a...
The Week That Was (28 Aug – 3 Sep, 2023)
US primary market new deals dropped sharply last week to only $581mn vs. $3.8bn a week prior. Among this, IG deals stood at $341mn, led by MassMutual's $200mn deal and JPMorgan's minor $140mn deal. HY deals last week stood at only $139mn with Seaport raising $115mn....
COGARD Wins Approval for Local Bond Extension; Dollar Bond Coupons Near Grace Period End-Date
Country Garden (COGARD) won the approval from its onshore bondholders to extend payments for a private bond, as per sources. COGARD had called for a vote on Friday to extend the maturity on its RMB 3.9bn ($540mn) onshore private bond, helping avert a default. The...
Credit Agricole and Lloyds Stage Comeback for Singapore Dollar Tier 2 Bonds
Recently, French lender Credit Agricole tapped on the Singapore dollar bond market for the second time this year, raising S$350mn by issuing a 10NC5 Tier 2 bond (scroll down for a refresher on bank capital) at 5.25%. This is the second European bank that has issued a...
