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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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SGL Carbon issued a €250m senior secured five year on Wednesday, allowing the carbon and graphite materials firm to repay a convertible maturing next year. Despite the issuer’s chequered past, the deal saw huge demand — but the company’s decision to lock in funding now suggests tough times ahead.
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Future Land Development Holdings’ new dollar bond crashed in the secondary market on Thursday, following an aggressively priced deal the day before. Rival bankers questioned both Future Land's pricing and the timing.
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Mongolian Mining Corp raised $440m with a new 2024 bond this week, in a sale that ran in tandem with a tender offer for the coking coal producer’s two existing dollar bonds.
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GMR Hyderabad International Airport sold its second dollar bond this week with both the size of the transaction and the pricing falling below expectations.
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Xinjiang Transportation Construction Investment Holding Co, a local government financing vehicle (LGFV), priced a modest $160m on Wednesday to refinance an upcoming maturity.
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The strength of demand in Europe's corporate bond market this week is showing itself in avid appetite for longer term and higher risk bonds, as investors hunt out yield against a background of low rates. But, somewhat surprisingly, there is also a rampant bid for short term, high quality paper.