Corporate Bonds - Article Archive

  • GB Principles circle closer to green definition

    Two new working groups of the Green Bond Principles will begin work next week, on defining greenness and on impact reporting. The move is part of the green bond market’s effort to define itself more clearly, partly in the hope that governments might ultimately subsidise it.

  • MTNs provide corporate funding avenue

    Corporate issuers are turning to the private market to fill the gap in their funding plans caused by unfavourable conditions in the public market.

  • Bank weakness opens up bond/CDS basis

    Last year the Markit iBoxx Euro Banks index was one of the outperforming bond sectors in Europe having returned 1%. The index, which is largely made up of bonds issued by European banks, even managed to outperform defensive sectors such as healthcare and utilities, while Europe’s regulatory oversight and relaxed monetary conditions kept market confidence in check.

  • Oil bounce on Saudi report not enough to relieve ME pipeline

    Reports that Saudi Arabia has offered to cut oil production by up to 5% if Russia matched the cut resulted in a jump in oil prices to $35 a barrel on Thursday. Despite positive momentum in the markets, bankers say Middle Eastern issuers need a more sustained period of stability before venturing to market.

  • Metinvest buys time to restructure bonds

    Metinvest has swerved a default of its Eurobond due January 31 after bondholders voted to approve a waiver which will enable the issuer to restructure its debt without triggering a cross-default clause.

  • Rarity value drives Vista Land $125m tap

    Philippine homebuilder Vista Land & Lifescapes opted to tap its outstanding bond rather than sell a new deal on Wednesday due to challenging market conditions. Although pricing wasn’t as tight as expected, offshore investors were still keen due to its scarcity value and a lack of other primary supply.

  • Kookmin, HNA Group woo dollar bond investors

    South Korea’s Kookmin Bank is looking to price its second covered bond on Thursday, while HNA Group is out to tap its existing dollar notes that were issued two months ago.

  • Earnings blackouts add to corporate bond malaise

    The last week of January has so far been much the same as the rest of the month for European corporate bonds: an erratic backdrop and minimal issuance. This week, earnings blackouts are adding to the silence.

  • Corporate MTNs proving resilient

    Medium term note volumes are down year on year but the product is proving popular with corporates, which have found comfort in its privacy.

  • CDB and Vista Land bring life to Asian bonds

    The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.

  • The lowdown: Panda bonds

    Panda bonds were thrust back into the limelight when the market was reopened by China in 2015 with many high profile issuers lining up to sell deals. But what are Panda bonds and why should you care? Here’s GlobalRMB’s quick guide to all you need to know.

  • UBS places oversight of index business with Markit

    UBS has asked Markit to administer and calculate its investible indices, as the bank looks to meet Europe’s regulatory push to improve transparency and oversight of industry benchmarks.

  • Best in Park drives ‘friendly’ €90m bond

    Austrian parking facilities developer Best in Parking walked into a frozen bond market on Tuesday with a €90m unrated bond, that was a tougher than expected sell to its domestic investor base.

  • UBS carves out new capital team

    UBS has announced it is setting up a new capital structure advisory team, focused on corporates and led by ratings advisory co-head David Bend.

  • Chinese property: Getting to grips with the unexpected

    The Chinese property sector has once again found itself in the headlines for the wrong reasons with Future Land Development Holdings saying on Friday that its chairman was being investigated by the authorities. While there was the inevitable bout of panic selling, the short time it took for things to stabilise shows a maturing market that is fast getting used to the complexities of the industry.

  • Lippo sets minimum yield for new bond

    Lippo Karawaci has announced the minimum yield for a new dollar-denominated senior offering due 2023, as it aims to switch holders out of a 2019 bond into a longer four year deal.

  • A&M puts Abengoa in bondholders’ hands

    The opening shot for the race to save Abengoa from bankruptcy came on Monday from Alvarez & Marsal, the restructuring firm, and its plan to half the Spanish renewable energy company’s corporate debt to €4bn ­— now the board and creditors must approve the scheme before March 28.

  • Hua Han readies maiden offshore outing

    Hua Han Health Industry Holdings is eyeing the international bond market for the first time, having mandated one bank to work on a dollar-denominated deal.

  • Universities and charities to issue wave of bonds

    Europe’s corporate bond market may be in a shabby state, but bankers are expecting a crop of public and private deals from a prestigious group of borrowers: UK universities and charities, write Rob Cooke and Toby Fildes.

  • Leveraged loans thriving as high yield joins general rout

    While almost all financial markets have been stricken with fear so far this year, Europe's leveraged loan market has been surprisingly buoyant, with a healthy flow of deals and plenty of interest from investors — though the sister high yield market is a desert. Max Bower and Victor Jimenez report.

  • IG corporates stare down the barrel of a barren month

    Investment grade corporate bond issuers are running scared of primary markets, leading to one of the worst starts to the year in living memory. The gloom may well spread through February, writes Ross Lancaster.

  • Global chaos cocktail puts dollars on ice

    The global sell-off in commodities and stocks has brought the US corporate bond market to a standstill, leaving corporate issuers unsure about when they can tap the market after the only trade of the week stumbled and AB InBev’s $46bn blockbuster continued to underperform.

  • Red chip Pandas in doubt as BC roars

    The Chinese Panda bond market has gone from strength to strength since its revival last September with the Province of British Columbia (BC) becoming the latest to issue, raising Rmb3bn ($456m) on Thursday. While plenty more sovereign and financial deals are being lined up, the future does not look bright for red chip companies. Carrie Hong and Rev Hui report.

  • Anthilia readies €230m fund for minibonds

    Italian investment manager Anthilia Capital Partners expects to close a €230m fund to buy domestic corporate minibonds early in February, a move that could entice players outside Italy to participate.