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Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
High yield issuers may be worried about market access, but some do not see them losing it
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Zhenro Properties Group and Seazen Group took advantage of a lack of high yield dollar bond supply in Asia to raise $600m between them on Thursday. -
Travelodge has opted to restructure its debts through a CVA rather than using the UK’s new restructuring framework, shortly to become law. That means landlords are likely to be the losers, rather than bondholders.
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The European Central Bank disappointed corporate bond markets on Thursday, as expectations had been running high for an extension of its purchase programme to include "fallen angel" companies that held investment grade ratings before the coronavirus crisis hit. But the €600bn boost to its overall asset purchases may hold spreads in.
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Chinese property developer Kaisa Group Holdings reset the price for all of its bonds on Wednesday when it sold a $300m sub-one year note.
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Virgin Media, the UK cable company, has announced a new sterling issue from its vendor finance high yield bond programme, following a dollar deal on Monday, as it terms out funding and prepares for its merger with UK mobile company O2.
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Chinese real estate developer Sichuan Languang Development Co rushed into the market last Friday with a dollar deal, to avoid any market fallout over the weekend from rising tensions between the US and the Mainland.
