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Mexico Eyes Options Beyond Pemex for $7bn IMF Reserves
Mexico is looking to allocate the $7bn of international reserves from the $12bn that the IMF transferred to the country’s central bank to other purposes over paying down debt of Petroleos Mexicanos (Pemex), the country’s most costly debt, as per sources. Originally,...
GOL Upgraded by Fitch to B-
Brazil's GOL Linhas Aereas Inteligentes S.A.'s (GOL) Issuer Default Ratings (IDRs) have been upgraded to B- from CCC+ with a stable outlook by Fitch. GOL Finance's unsecured bonds have also been upgraded to B-/RR4 from CCC+/RR4. The rating action on the leading...
MGM Mulling Ways to Get Control of Entain’s Share of BetMGM
MGM Resorts International is said to be mulling ways of getting control of online betting business BetMGM, which is a 50-50 JV between MGM and UK-based gaming company Entain as the latter has received a $22bn merger offer from online betting company DraftKings Inc. As...
Lobbies Warn of Disruption Over Amendment to SEC Rule Calling for More Transparency
US bond market lobby groups are warning of disruptions if a proposed amendment to the SEC rule 15c2-11 is enforced. The rule essentially "governs the publication or submission of quotations by broker-dealers in a quotation medium other than a national securities...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US markets had a mixed day after they shed initial gains – Nasdaq gained 0.2% while S&P closed 0.1% lower. Energy recovered by 0.4% followed by Healthcare, Consumer Discretionary and IT which were up marginally. Industrials down 0.7%, led the losers followed by...
Evergrande Misses Loan Payments to Banks; Hengda Said to Pay Onshore Coupon
Evergrande missed interest payments due on loans to two of its largest bank creditors on Tuesday. The news was not unexpected as China’s Ministry of Housing and Urban-Rural Development convened a meeting with banks last week and informed them that Evergrande will not...
Fantasia Denies Rumors of Delay in Dollar Notes Payment
Chinese property developer Fantasia Holdings Group clarified via an exchange filing on Monday that there has been no delay in repaying its offshore senior bonds due, in response to market rumors. The company said, "Operating performance is good with sufficient working...
Indonesia Completes Tender Offer for its USD Bonds
Indonesia completed the tender offer for its eight dollar bonds. The results of the tender offer are given below: Indonesia will not accept any of the $1bn 2.95% 2023s, $2bn 5.875% 2024s, $2bn 4.125% 2025s and $2.25bn 4.75% 2026s which were initially part of the...
MUFG to Sell US Retail Business in $8bn Deal to US Bancorp
Japan's MUFG and its core banking subsidiary MUFG Bank have reached a definitive agreement to sell their stake in US consumer banking subsidiary MUFG Union Bank (MUB) held through MUFG Americas Holdings Corporation (MUAH) to U.S. Bancorp (USB) in a deal worth $8bn....
