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Guacolda’s Bonds Rebound Slightly as WEG Says It Will Honor Commitments
Chilean utility company Guacolda Energia Sa saw its $500mn 4.56% bonds due 2025 rise after Grupo WEG said that it will honor its commitments made to Guacolda's creditors. The bonds rose about 6 points to currently trade at 80 cents on the dollar, after falling ~15...
Colombia’s Dollar Bonds Slip on Fears of Losing IG Rating
Colombia's dollar bonds slipped over the weekend on growing fears among investors that the South American nation may lose its coveted investment grade credit rating, sparked by the government's warning of deteriorating financial health. Its 3.125% 2031s and 4.125%...
Modern Land China Receives Solid Demand for Tender of 12.85% 2021s
Chinese developer Modern Land (China) announced that it has received a solid response to its tender offer of its 12.85% bonds due October 25 this year. The company said that bonds worth $134.04mn in principal had been validly tendered as on the offer deadline of last...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers & Losers
Equities continued to sell-off with S&P down 1.3% and Nasdaq down 2.1%, bringing the tech heavy index to negative territory YTD. US 10Y Treasury yields jumped another 9bp to 1.58%. While Fed Chair Powell maintained his stance on bond buying, he mentioned that...
Bombardier Bonds Inch Up on Turn Around Plan That Focuses on After Market
Jet manufacturer Bombardier reported earnings yesterday with 2020 revenues from business aircraft activities at $5.6bn, up 3% YoY and net losses of $568mn vs. a loss of $1.6bn in 2019. The company said that it delivered 114 business aircrafts last year with an order...
Nissan Raises $2bn via Four-Trancher
Nissan Motor Acceptance Corp (NMAC) raised $2bn via a four part deal. Details of the issuance are given below: Proceeds will be used for general corporate purposes. Ultimate parent Nissan Motor is the keepwell agreement provider. NMAC is a wholly-owned subsidiary of...
Aviva Reports £2.9bn in 2020 Profits; To Sell Remainder of Italian Business
British insurer Aviva reported profits of £2.91bn ($4bn) for the full year 2020, up 10% from 2019. The core savings and retirement business contributed to the bulk of the profits seeing record net flows of £8.5bn ($11.8bn), up 13% YoY. The Group Protection business...
Lufthansa Posts Record Annual Loss
German carrier Lufthansa reported a record annual operating loss of €5.5bn ($bn) in 2020 vs. a €2bn ($2.4bn) profit in 2019. Net losses were at €6.7bn ($8bn) as against a profit of €1.2bn ($1.44bn) in the previous year. Revenues fell 63% to €13.6bn ($16.3bn). The...
Sharjah Raises $1.25bn via Bonds; Mubadala Follows Saudi to Raise €1.1bn in Bonds
The Emirate of Sharjah raises $1.25bn via new bonds priced on Thursday. It raised: $750mn via 12Y bonds at a yield of 3.625%, 215.5bp over Treasuries and 25bp inside initial guidance of 3.875% $500mn via 30Y bonds at a yield of 4.75%, 249.8bp over Treasuries and 25bp...
