Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
Moody’s Upgrades Votorantim Cimentos Ratings to Baa3
Brazilian cement company Votorantim Cimentos International S.A.(VC) has been upgraded to Baa3 from Ba1 by Moody’s based on the strong links with parent company Votorantim and improvements in VC’s standalone credit metrics and capital structure. VC’s upgrade follows...
Suning’s Bonds Crash on Debt Worries After Local Bond Extended; Chairman’s Stake Frozen
Stocks and bonds of Suning crashed as fears on the company’s debt pile have increased. Granda Century’s (guaranteed by Suning Appliance) 7.5% 2021s bonds fell from 85.8 to a low of 67.6. They have recovered slightly today and trade at 72.1. Its shares have fallen over...
eHi, Wipro, Gajah Launch Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
US markets pulled back slightly a day after reaching record level with the FOMC meeting got underway. S&P and NASDAQ were down 0.2% and 0.7% respectively. Tech weighed down on the indices, down 0.6% while Energy was up 2.1% providing support. Tesla was down 3%...
Evergrande Bonds Inch Lower On Reports of Cutting Stake in Shengjing Bank
Caixin’s WeNews reported that the local government of Liaoning province is discussing diluting Evergrande’s stake in Shengjiang Bank. Evergrande and Shengjing Bank did not comment on the news. Evergrande is the lender’s largest shareholder and Shengjing Bank holds a...
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...