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Carnival Raises Forecasts Amid Improved Earnings
Carnival Corp upped its annual profit forecast during its earnings report, amid posting a smaller than expected loss. The cruise liner posted record first-quarter revenues of $5.41bn and an adjusted net loss of $180mn or a diluted EPS of -$0.17 vs. expectations of...
BNP Prices $ 5Y at 5.28%
US Treasury yields were stable across the curve on Wednesday. Fed Governor Christopher Waller remarked that there was no need to rush to lower interest rates, adding that he wants to see "at least a couple months of better inflation data" before cutting. He said, "in...
Asia Dollar Bond IG Spreads Trade Tighter to US
US Treasury yields were stable across the curve on Tuesday. In the US, preliminary durable goods orders for February rebounded to 1.4%, above estimates of 1.0% and prior month's data of -6.9% .This was helped by a surge in non-defence aircraft orders. Meanwhile,...
Ghana to Begin Debt Restructuring Talks with Bondholders
Ghana will begin restructuring talks with bondholders in the coming week for $13bn of its defaulted debt, according to its Finance Minister Mohammed Amin Adam. The government authorities have received counter-proposals from two bondholder groups and the government...
Rite Aid Close to Striking Deal with Creditors
Rite Aid is nearing a deal with key bondholders which would allow it to avoid liquidation, according to sources. The sources added that the deal would allow junior bondholders to takeover the company and help the company exit Chapter 11 bankruptcy protection. The...
BAT Upgraded to BBB+ by Fitch
British American Tobacco (BAT) has been upgraded by a notch to BBB+ from BBB by Fitch. Fitch also upgraded BAT's senior unsecured and perpetual bonds by a notch to BBB+ and BBB- respectively. The upgrade follows BAT's improved leverage metrics and Fitch's expectations...
Yapi Kredi Prices Third Turkish AT1 of 2024 at 9.75%
Yapi Kredi raised $500mn via a PerpNC5.25 AT1 bond at a yield of 9.75%, 25bp inside initial guidance of 10% area. The junior subordinated notes are rated CCC by Fitch. The bonds are callable from 4 April 2029 until 4 July 2029 and if not called, the coupon resets then...
Canacol Energy’s Dollar Bond Plummets
Canacol Energy's 5.75% dollar bond due 2028 plummeted over 15 points to 50.9 cents on the dollar after the company decided to discontinue its quarterly dividend to improve balance sheet flexibility. The Columbian company added that there would be no significant share...
MGM, BMW, KNOC Prices $ Bonds
US Treasury yields were stable across the curve on Monday. US new-home sales unexpectedly fell in February for the first time in three months, by 0.3% MoM, below estimates of a 2.1% rise by Bloomberg, and previous data of a 1.5% rise. Credit markets saw the US IG CDS...
