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Walmart Raises $2bn via Green Bond, Largest Ever by a US non-financial Company
Walmart raised $2bn via a debut 10Y green bond at a yield of 1.839%, 25bp inside initial guidance of T+75bp area. The green bond was part of a wider $7bn five-tranche issuance and comes amid efforts to reduce carbon emissions, boost recycling and clean up its supply...
Ecuador Reaches IMF Deal, To Receive $1.5bn This Year
Ecuador is all set to receive $1.5bn this year in new disbursements from the IMF following a new staff level agreement with the fund. The agreement comes as the Ecuador government has agreed to put in place fiscal reforms and spending cuts as it seeks to achieve an...
SMC, CCB, CBA Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US markets had a mixed opening to start the trading week after the long weekend – S&P was down 0.3% while the tech heavy NASDAQ was up 0.1%. Consumer Discretionary and Communications Services led the upside with gains of ~0.4%. Industrials down ~1.8% dragged the...
R&F Properties’ Bonds Continue Fall to Fresh Lows
Guangzhou R&F Properties' dollar bonds extended losses on Tuesday over liquidity concerns. The latest selloff comes after R&F was downgraded deeper into junk to B2 by Moody's on Monday while being placed on rating watch for further downgrade amid refinancing...
Fantasia’s Bonds Not Being Accepted as Collateral by Citi & Credit Suisse PB Units
Sources report that private banking units of Citigroup and Credit Suisse AG have stopped accepting bonds of Fantasia after increasing concerns about their financial health. Bloomberg cites sources saying that the two banks have assigned a 'zero lending value to the...
Allianz Being Investigated over US Investment Funds Losses
Germany's largest financial company Allianz is being investigated by German regulator BaFin after its US investment funds suffered billions of dollars in losses last year, sources say. BaFin is investigating multiple departments of Allianz and the extent to which...
Credit Suisse Files For Insurance Claims on Greensill-linked Funds
Credit Suisse has filed its first insurance claim following the collapse of its $10bn supply chain finance funds related to Greensill in March. The bank reported that some $7bn, or 70%, have now been recovered, up from $6.1bn in July. After the last payment in August,...
GCC Sukuk Issuance Drops in H1
The global sukuk issuance has witnessed a decline in 1H2021 after the funding requirements of GCC countries reduced as oil prices have trended higher this year. A drop has been observed in sukuk issuance from UAE after it adopted the Shariah-compliance standards....
Oxley to Buy Back 5.7% 2022s and Reopen 6.9% 2024s
Singapore-based real estate developer Oxley Holdings has launched a tender offer on its existing SGD 5.7% bonds due 2022 "to reduce the amount of the guarantor's outstanding consolidated short-term indebtedness and enhance the guarantor's outstanding consolidated...
