Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
2021 Recap: China Real Estate – When Hope Went Up In Smoke
2021 was a year to forget for the Chinese property sector. What started out as a recovery from the pandemic in 2020 turned into a crisis just when the outlook seemed to be stable. The first half of the year was fairly steady - 87% and 81% of developers' dollar bonds...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets retraced after moving higher on Wednesday with the S&P down 0.9% and Nasdaq seeing a sharp dip, down 2.5% higher. IT and Consumer Discretionary led the losers, down 2.9% and 2.2% respectively. US 10Y Treasury yields moved 4bp lower to 1.42%....
Evergrande’s Local Creditors Sue For $13bn in Claims
Local Chinese creditors have sued Evergrande for more than $13bn in alleged overdue payments. FT notes that as per records, a Chinese court assigned to handle civil lawsuits against Evergrande has accepted 367 cases with claims totaling RMB 84bn ($13.2bn). Bo Zhuang,...
Turkey Cuts Rates Again by 100bp to 14%
In yet another unusual policy move, Turkey's central bank (CBRT) cut rates again, this time by 100bp to 14% on Thursday. The Lira dropped to a fresh record low of 15.5 after the decision. This is the fourth consecutive rate cut by the CBRT beginning September 2021,...
Greenland Holdings Downgraded to Ba3 by Moody’s
Greenland Holdings was downgraded to Ba3 from Ba2 by Moody's and its subsidiary Greenland Hong Kong (Greenland HK) was cut to B1 from B3. The rationale for the downgrade is on the back of expectations that Greenland and Greenland HK's property sales will fall over the...
Shimao in Talks for Loan Extension with Regulators, Trusts; Bonds Inch Higher
China’s financial regulator is coordinating talks between Shimao and various trust firms, such as China Minsheng Trust Co. and Guotong Trust Co. for loan extensions, as per sources. One of the sources also mentioned that Shimao is seeking new loans from banks....
Occidental Upgraded to BB+ by Fitch
American oil exploration company Occidental Petroleum (Oxy) was upgraded to BB+ from BB by Fitch. The rating agency cited Oxy’s decreasing debt YTD and recently concluded debt tenders as key reasons for the upgrade. Fitch updated its outlook on Oxy to stable in...
Aeromexico Receives Anonymous Tender Offer
Mexico’s airline Aerovias de Mexico (Aeromexico) said that it received a tender offer from an unnamed third party. The third party bidder intends to buy up to 331,480,713 shares, representing 49% of the stock prior to the dilution from its restructuring plan. The...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets jumped higher despite the hawkish Fed (scroll below for details) as the S&P and Nasdaq ended 1.6% and 2.2% higher. All sectors barring Energy were in the green, led with IT and Healthcare, up over 2% each. US 10Y Treasury yields moved 3bp higher...
