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Fantasia’s Dollar Bonds Weaken
Another Chinese developer Fantasia saw its dollar bonds fall by over 2.5% on Tuesday and continue to move lower this morning. While the reason for the fall is not clear, Bloomberg Intelligence says that the fall may be triggered by weakness in Evergrande. Fantasia...
UOB Raises S$600mn Via PerpNC7 AT1 At 2.55%
Singapore-based lender UOB raised S$600mn via a PerpNC7 AT1 bond at a yield of 2.55%, 30bp inside initial guidance of 2.85% area. The bonds have expected ratings of Baa1/BBB-/BBB+. If not called, the coupon resets at the end of the seventh year, June 22, 2028 to the...
Mapletree Industrial Trust Raises S$310mn Via Preferential Offering
Singapore based Mapletree Industrial Trust (MIT) raised S$310.4mn ($234mn) via a non-renounceable preferential offering. About 117.6mn new units were issued at S$2.64/unit. In addition to raising S$512.9mn ($385mn) from a private placement last month, combined gross...
Transocean Planning to Raise $400mn via Share Sale to Repay Debt
Transocean, an offshore drilling services provider, plans to sell new shares to reduce its debt and raise additional cash. Its shares have gained 75% to $4/share due to the meme-stock frenzy and oil prices rising 40% since last October. According to a filing on...
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...
