Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
Fantasia’s 2021s Crash on October Bond Default; Downgraded to CCC- from B by Fitch
Fantasia defaulted on its $205.656mn 7.375% bond due October 4. The bond did not have a grace period. Fantasia said it will assess "the potential impact on the financial condition and cash position of the group under the circumstances" adding that it will continue to...
Other Developers’ Bonds Continue to Drop of Spillover Effects
Dollar bonds of Chinese HY property developers like Greenland, Kaisa, Yango and Sunac fell 2-3% yesterday on likely spillover effects from Evergrande and Fantasia. Tight funding markets, weak investor sentiment and global risk-off have only added to the impact on...
Vedanta to Invest $20bn in India to Expand Capacity
Vedanta's Chairman Anil Agarwal revealed plans to invest $20bn to expand capacity in India adding that they are evaluating privatization of BPCL, Shipping Corporation and Hindustan Copper, if it comes. He said that the financing is not an issue as they floated a fund...
Carnival to Issue $1.5bn Loan to Refinance Bonds Issued in 2020
The world's largest cruise operator Carnival Corp is planning to refinance its relatively costly dollar bonds issued during the peak of the pandemic in April last year via a $1.5bn loan. As per Bloomberg, the company began marketing the loan to investors at the...
Aeromexico to Receive $1.8bn in Restructuring Plan
Mexico´s airline Aerovías de México, S.A. de C.V (Aeromexico) is preparing a restructuring plan, after receiving a 75-day extension to present its restructuring plan in June; subject to the approval of the Bankruptcy Court of the Southern District of New York. The...
Jollibee Launches $250mn Tender Offer for 3.9% Perps
Philippine fast-food company Jollibee has launched a tender offer for its $600mn 3.9% perpetuals callable in 2025. The company will buy back up to $250mn worth of the perps at a price of $101.625 per $100 in principal plus accrued interest for bonds tendered by the...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US markets ended higher on Friday to end a volatile week for equities as the S&P was up 1.2% and Nasdaq up 0.8%. US 10Y Treasury yields eased 1bp to 1.47%. Energy led the sectoral gains, up 3.3%, followed by Communication Services, Materials and Financials up over...
The Week That Was (27 Sep to 3 Oct 2021)
US primary markets saw an increase issuance to $27.8bn vs. $21.2bn in the prior week. IG issuances rose to $14.1bn vs. $8.2bn in the prior week and HY issuances were also higher at $ 13.4bn vs. $11.6bn in the prior week. The IG space was led by Charter Communications'...
Hopson to Buy 51% in Evergrande Property Services for $5bn as per Sources
Hopson Development plans to acquire a 51% stake in Evergrande Property Services for over HKD 40bn ($5.1bn) as per sources cited by Cailian news. Evergrande's Property Services unit has a market cap of HKD 55bn ($7bn). As of end-June 2021, the unit had cash balances...
