by Amruth Sundarkumar | Dec 22, 2022 | Corporates, Credit Ratings, High Yield Bonds
Japanese e-commerce company Rakuten was downgraded to BB from BB+ by S&P and its subordinated bonds to B from B+. S&P expects that Rakuten’s nonfinancial unit will continue booking deeply negative free operating cash flows (FOCF) in fiscal 2023 to...
by Amruth Sundarkumar | Nov 21, 2022 | High Yield Bonds, Southeast Asia
Japanese e-commerce company Rakuten Group saw its dollar perps fall over 10% as the company launched a new $500mn 2Y high yield dollar bond at yields of around 12%. Rakuten is rated BB+ by S&P. Bloomberg sources said that the company’s bond offering was at a...
