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HPE Announces $14bn Acquisition of Juniper Networks
Hewlett Packard Enterprise (HPE) announced the acquisition of Juniper Networks in a $14bn deal. The deal will be an all-cash deal with HPE paying $40+share for Juniper, representing a 32% premium over Monday's close price for the latter. Post the news, shares of...
Vedanta Downgraded to Caa3 by Moody’s
Vedanta Resources was downgraded to Caa3 from Caa2 by Moody's following the consent of its bondholders towards their debt restructuring offer. Moody's also downgraded the senior unsecured bonds issued by Vedanta Resources and those issued by its wholly-owned...
OCBC, YapiKredi, Ecopetrol Price Bonds
US Treasury yields were broadly flat on Tuesday. The NFIB Small Business Optimism Index in the US increased 1.3 points in December to 91.9. It was the first increase since July and matched that month's reading, but was still below its 50-year average of 98 for a...
ArcelorMittal and Italy Clash over Steelmaker ADI
ArcelorMittal rejected the Italian government's plan to take a controlling stake in Acciaierie d'Italia (ADI), where the steelmaker currently owns 62%. Italy had pledged to acquire a majority stake in ADI, the country's largest steelmaker, which has been struggling to...
Ghana Nears Bilateral Debt Restructuring Deal
Ghana was expected to receive a draft term sheet from creditors yesterday for restructuring of its $5.4bn bilateral debt. The term sheet will help Ghana unlock a $600mn IMF disbursement under the latter's $3bn extended credit facility (ECF) program. Ghana's Finance...
Adani Green Details Plan on September 2024s Repayment
Adani Green provided details on how it would finance the repayment of its $750mn 4.375% bond due September 2024. This would be done via three parts: It will sell preferential shares worth $281mn to the founding family Raise $300mn from a joint-venture (JV) deal with...
Wanda Says It Redeemed 10% Principal of 7.25% 2024s
Dalian Wanda said that Wanda Properties has redeemed 10% of the effective principal amount of its 7.25% bonds due January 2024 alongside accrued interest, according to an HKEX filing. The new outstanding principal amount of the bonds would now be $540mn. This comes...
OCBC, BOC Aviation Launch Bonds; Saudi Prices $12bn Bond Deal
US Treasury yields were marginally lower by 2-4bp across the curve on Monday. Fed Governor Michelle Bowman retreated from her hawkish view saying that she now sees US monetary policy as "sufficiently restrictive". Also, Atlanta Fed President Raphael Bostic said that...
Argentina Seeks to Repay $1bn Interest on its Bonds
Argentina is seeking to repay interest of $1bn that comes due today on its foreign currency bonds. The country is also in talks with the IMF delegation to revamp its $44bn bailout programme and unlock fund disbursements of $3.3bn. Despite being short on cash,...
