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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
Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
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High yield issuers’ struggle to push out deals in turbulent market conditions was reflected when Singapore’s Interplex Holdings was forced to cancel its inaugural dollar offering. -
Leveraged borrowers Adb Safegate and Groupe Ecore had active euro roadshows for floating rate debt, keeping the leveraged finance markets open this week.
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Italian construction firm Cooperativa Muratori e Cementisti di Ravenna officially announced it would miss the November 15 coupon payment of its 2023 bonds.
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Singapore’s Interplex Holdings pulled its planned debut dollar bond sale on Friday.
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Chinese technology giant Baidu grabbed $1bn from a bond on Thursday, while a local government financing vehicle (LGFV) in Hunan raised $300m from a deal that was less than twice covered at its peak.
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In the high yield bond market, borrowers have returned after a couple of weeks with almost no issuance because of mounting worries over covenant quality. But investors are giving these deals such differing receptions that this week’s picture is hard to read, said market participants.
