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Royal Caribbean Raises $650mn in Junk Bonds
Cruise operator Royal Caribbean Group raised $650mn via 5Y bonds at a yield of 4.25%, unchanged from initial guidance. The bonds have been rated B by S&P. Proceeds of the deal will be used to fund the redemption of its ~$620mn 7.25% 2025s issued by Silversea...
Emirates Airlines Posts Loss of $5.5bn; First Annual Loss in 30 Years
Emirates Group came out with its earnings for FY2021 ended March 31 on Tuesday in which it reported its first annual loss in over 30 years caused due to the drop in passenger traffic as a fallout of the pandemic. The group incurred a loss of AED 22.1bn ($6.0bn) vs. a...
ONGC to Raise $525mn To Redeem Bonds Next Month
ONGC Videsh, the international subsidiary of the Indian natural gas and oil corporation ONGC, is planning to raise $525mn in foreign currency loans from domestic and international lenders to repay bonds maturing next month, according to sources. They also claimed ONGC...
EU Blocks Big Banks From Syndicating Its Bond Sale
The European Union has blocked 10 big banks from participating in the €20bn ($24.25bn) bond sale due to past transgression in the EU's antitrust rules. The temporary blockage of banks which include JP Morgan Chase, Citibank, Bank of America, and Barclays would remain...
El Salvador’s Bonds Continue To Fall on Crypto-conversion
El Salvador’s small bitcoin transfers soared four-fold the past month compared to last year, however, the spread of the country’s bonds widened as concerns over the newly introduced law grow. Transfers of bitcoin from the United States to El Salvador still represent a...
DIB, Aoyuan, ANZ, Macquarie Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
S&P closed higher by 0.2% while Nasdaq moved up 0.7% to continue making new highs. Tech once again traded higher, up 1% while Materials and Financials (down 1.3% and 1%) weighed down on the indices. Apple was up 2.5%, Facebook 1.7%, Amazon 1.1% and Alphabet and...
Adani Group’s Bonds and Stocks Drop on ET Reports of FPI Account Freeze
Adani Group’s bonds and stock fell on Monday after a report from the Economic Times (ET) said that the accounts of three foreign funds holding shares in its group companies were frozen by the National Securities Depository Ltd (NSDL). The three foreign funds in...
Turkey Hires for Dollar 5Y Sukuk; Signs $3.6bn Swap Deal with China
Turkey has hired bankers for a 5Y dollar Sukuk according to a document seen by Reuters. The banks hired are Dubai Islamic Bank, Emirates NBD Capital, HSBC and Standard Chartered. Separately, Turkish President Erdoğan said that Turkey's central bank agreed to increase...
DP World Considering Stake Sale of Jebel Ali Free-zone
DP World is contemplating allowing international investors an opportunity to buy into the Jebel Ali Free Zone (Jafza), one of the world’s largest free zones, to minimise its debt. According to sources, the state-owned logistics firm is working with advisors to sell a...
