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MEDIA RELEASE: BondEvalue Expands Network with Integration of Citi Securities Services
BondEvalue Expands Network with Integration of Citi Securities Services • Citi joins Northern Trust in offering asset servicing solutions for fractional bond exchange Singapore, 25 March 2021 – BondEvalue has appointed Citi alongside Northern Trust to join the...
Shriram, MGM Launch $ Bonds; Macro; Rating Changes; New Bond Issues; Talking Heads; Top Gainers & Losers
S&P ended 0.6% lower while Nasdaq saw another beat down by 2% as tech shares continued to tumble. The US 10Y Treasury yield rose 3bp to 1.63%. As per IFR, many see US 10Y yields settled within a range of 1.60%-1.75%, with the major worry for equities being an...
Yuzhou’s Dollar Bonds Fall 4-5% Post Downgrade; Central China’s Dollar Bonds Slip Too
Bonds of Chinese property developers Yuzhou and Central China Real Estate (CCRE) fell on Wednesday. Yuzhou’s dollar bonds fell 4-5% after it was downgraded by Moody’s to B1 from Ba3 with its outlook cut to negative from stable. Also, its senior unsecured rating was...
BEA Sells Life Insurance Biz for $653 Million to AIA
Hong Kong-based banking major Bank of East Asia (BEA) announced the sale of its life insurance unit to insurance giant AIA for HKD 5.07bn ($653mn). As per SCMP, the transaction is the result of a strategic review called for by activist shareholder Elliott Management,...
Tencent Beats Estimates with a 175% Jump in Q4 Profits
Tencent reported Q4 profits of $9.1bn, up over 2.75x YoY from $3.3bn in the same quarter in 2019 and 80% above analyst estimates. Total revenues rose 26% to $25bn from ~$16bn YoY in Q4. The profits were largely due to fair-value gains in companies Tencent has invested...
IMF to Provide Pakistan with $500mn Budget Support
The IMF said it approved a $500mn disbursement to Pakistan for budget support. This is part of a bailout program to avoid bankruptcy two years back amounting to SDR 4.27bn (~$6bn) where the IMF had completed delayed reviews. The IMF said overall disbursements under...
Royal Caribbean Raises $1.5 Billion via New 7Y Bond at 5.5%
Royal Caribbean raised $1.5bn via a 7Y bond at a yield of 5.5%, at the lower end of initial guidance of 5.5-5.75%. The bonds have expected ratings of B2/B and proceeds will be used to repay principal on debt maturing or required to be paid in 2021 and 2022 and the...
Mapletree Raises $600mn for European Fund
Singapore-based real estate investment company Mapletree Investments raised €507mn ($600mn) for its first European office fund, according to its press release. The third-party fundraise was 1.5 times covered, with participation from new and repeat investors...
HNA Hunts for Investors for Its Aviation Assets
Troubled HNA Group said last week that it is looking for investors for its airline and related entities as part of its restructuring. The group, known for its flagship unit Hainan Airlines, received court approval to merge 321 related companies into a single company...
