Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
JPMorgan Beats Earnings Expectations; FICC Revenues Miss
JPMorgan kicked-off the US bank earnings season with strong Q3 results. It reported a net income of $11.7bn, up 24% YoY and an EPS of $3.74/share vs. estimates of $3/share. Profits were helped by a net benefit of $1.5bn from better loan-losses after releasing $2.1bn...
Casino Operators Wynn, Studio City and Melco Downgraded by S&P
Wynn Resorts was downgraded to B+ from BB-. S&P expects Wynn's leverage to remain very high in 2021 and potentially improve to 6.5-7x in 2022 due to a slow recovery in gaming revenue in Macau combined with travel restrictions. Wynn heavily relies on a recovery in...
Oxy Sells Ghana Assets for $750mn to Kosmos, GNPC
Occidental Petroleum Corp. (Oxy) has reached an agreement to sell its stakes in two Ghanaian oil fields for $750mn, as part of its divestment effort to reduce debt. As per Oxy’s statement, Kosmos Energy Ltd and Ghana National Petroleum Corp. will pay $550mn and $200mn...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equities ended lower for a third day with the S&P and Nasdaq down 0.2% and 0.1%. Real Estate was up 1.3% while Communication Services was down 1% with other sectors ending mixed. US 10Y Treasury yields eased 2bp to 1.58%. European stocks were also lower with...
65% of Chinese Developers’ Dollar Bonds Now Yield > 10%
Over 65% of Chinese developers' dollar bonds in our universe now yield above 10% with the sell-off in continuing to depress prices and push yields higher. Issuers whose bonds yield less than 10% include those of Country Garden, Sun Hung Kai, CK Asset, China Vanke,...
Aoyuan, KWG Dollar Bonds Plummet
Dollar bonds of Chinese developers China Aoyuan and KWG dropped over 15% on October 12. While the exact reason for the fall is not known, it is inline with the recent declining trend observed in Chinese developers' bonds since the Evergrande saga spilled over to...
Future Retail & Amazon Mulling Out of Court Settlement
Indian retailer Future Retail and Amazon are said to be considering an out of court settlement after a year-long legal battle over the proposed sale of the former's assets to Reliance Retail, as per two people familiar with the matter. The Singapore International...
American Airlines Expects Smaller Loss in Q3 on Improved Travel
American Airlines expects a smaller than expected loss between $620-675mn in Q3 this year on the back of improved travel bookings, expecting increased holiday demand and lifting of travel bans ahead of the winter holidays. Analysts expect a loss of $720mn The carrier...
Braskem Idesa to Raise $1bn via SLBs
Mexican petrochemical company Braskem Idesa plans to issue sustainability-linked bonds (SLBs) due 2032 as per Latin Finance sources. The company appointed Morgan Stanley, Crédit Agricole, Deutsche Bank and Itaú BBA as bookrunners and global coordinators of the deal....
