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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
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
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Progress was announced this week on two drives to assess the risk of climate change to businesses. The Task Force on Climate-related Financial Disclosures (TCFD) now has 513 supporters; and Moody’s has updated its environmental risk heat map, showing that 11 sectors with $2.2tr of debt have elevated risk. -
Among the host of sustainable finance-related announcements this week to coincide with the UN General Assembly session in New York, one of the most potentially significant is from the Impact Management Project.
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A stream of low-rated US borrowers in euros could continue to flow this year, said market participants, consolidating these reverse Yankees as the second largest sector for euro high yield bonds.
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Qinghai Provincial Investment Group Co successfully redeemed its $300m bond this week, giving a boost to its entire secondary curve and ending months of speculation about a possible default. But its debt-related troubles are not over just yet, writes Addison Gong.
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Cifi Holdings Group Co added $300m to its existing 2022 bonds on Wednesday as it got ahead of the expected supply pipeline, but the real estate company was forced to pay a juicy premium for the deal.
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Asian equities showed mixed responses to the increase in the federal funds rate announced by the Federal Open Market Committee (FOMC) on Wednesday night, while bonds in the region held up reasonably well. But there are worries that the pace of rate hikes until the end of 2019 might be too aggressive.
