Top Section/Ad
Top Section/Ad
Most recent
Sustainability-linked bond had to cope with tariff and German debt news
Disruptive US economic policy has not yet dented credit appetite
High yield investors nibble at IG names, as credit investors brace for ‘trillions’ unlocked from money market funds
More articles/Ad
More articles/Ad
More articles
-
Hong Kong-listed oil company Hilong Holding pushed back the exchange deadline for its 2020 bond for the fourth time this week, leaving only a weekend between the exchange deadline and the notes’ maturity on Monday. -
Chinese real estate developer Zhongliang Holdings Group Co took $250m from a sub-one year bond on Wednesday, prioritising size over price for the deal.
-
Heathrow is asking its high yield creditors to waive covenants it expects to breach this year in a return for a new commitment to a minimum cash level, a boost to coupon payments and a cancellation of any dividends, as it grapples with an 81% dive in earnings.
-
Virgin Media’s rapid-fire refinancing binge continued on Wednesday with a new high yield bond offering, the fifth so far this month, part of what the company says is a “strategy of refinancing ahead of the curve and maximising tenor across all credit silos”. But the refi binge, which has seen more than $2.5bn-equivalent issued this month, has cost the company dearly, as many of the bonds it is terming out are inside their call dates — meaning it must pay the “make-whole” cost to redeem them.
-
A spate of real estate and government-linked borrowers from Greater China flocked to the dollar bond market on Tuesday.
-
Chemicals firm Synthomer is marketing a €520m five year non-call two bond to take out the bridge financing for its purchase of US firm Omnova, announced last July and completed in April. The company’s last outing in high yield ended in failure in 2018, and some bond buyers see chemicals as a cyclical sector to avoid, but market conditions are strong following the US Federal Reserve's opening of individual bond purchases overnight.
