Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
The Week That Was
US primary market issuances rose to $32.4bn after two relatively slower weeks prior that saw only $2.3bn and $13.2bn in issuances. IG issuances rose to $24.7bn vs. $1.7bn and $9.6bn in the prior weeks and HY issuances were also higher to $7.3bn vs. $375mn and $3.1bn...
China to Order Property Developers to Report CP Debt Monthly
Sources report that Chinese regulators have asked property developers to report their commercial paper (CP) debt on a monthly basis. The move comes just over a week after news that the world's most indebted developer Evergrande reported $32bn in CPs outstanding...
Evergrande Bonds Fall after Court Orders Bank Account Freeze
China Evergrande's bonds fell after a court in Jiangsu province ordered the freezing of a bank account held by its subsidiary Hengda Real Estate Group and its unit at China Guangfa Bank. Bloomberg reported that Guangfa Bank said, “The situation is urgent and its legal...
ADCB, Kuwait’s NBK and Sharjah Islamic Bank Report Strong Results
Abu Dhabi Commercial Bank (ADCB), National Bank of Kuwait (NBK) and Sharjah Islamic Bank reported strong results for the six months ended June. ADCB reported a 76% jump in net profits to AED 2.52bn ($690mn) in 1H2021. Non-interest income rose 41% YoY to AED 840mn...
Kuwait Downgraded by S&P to A+
Kuwait was downgraded by one notch to A+ from AA- with a negative outlook by S&P on Friday. The rating action has been initiated as the sovereign lacks a comprehensive funding strategy even as the government faces an ongoing budget deficit which was ~33% of GDP as...
LGFV Funding Access Tightened by Beijing
Chinese regulator CBIRC has issued a guideline called the No. 15 document to regulate financial institutions' involvement in Local Government Financing Vehicles’ (LGFVs) debt financing activities, according to mainland media. While the document is not on its website,...
Santander to Buy Amherst to Boost Fixed Income Division
Banco Santander's US unit has reached an agreement to acquire US fixed-income broker dealer Amherst Pierpont Securities, through the acquisition of its parent, Pierpont Capital Holdings LLC, for ~$600mn. According to Santander, Amherst Pierpont will be a part of...
Pemex Trading Arm Suspends Business Ties with Trafigura
Mexico’s state oil company Pemex temporarily suspended new business with Trafigura, which is facing alleged corruption concerning bribes of public officials in various Latin American countries and has been under investigation for years. Pemex joined other state oil...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
US markets dropped even as labor markets and earnings signaled a recovery. Initial jobless claims for the week ending July 10 stood at 360k, the lowest since the onset of the pandemic. These were under the 400k mark for the third week in a row but slightly higher than...
