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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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US asset manager Pinebridge is positive on credit markets in the short to medium term, but the outperformance of assets in the past three years has increased the probability for a credit downturn according to a recent report it published. -
Qinghai Provincial Investment Group Co is expected to be able to redeem its $300m bond that matured on Wednesday, ending months of speculation about its ability to meet its debt obligation.
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Investment house Muzinich has hired Paul Suter to trade European high yield bonds.
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Spain’s largest department store group, El Corte Inglés, picked a busy week to roadshow its first rated issue. But its bonds will be listed in Dublin, despite efforts from the Spanish financial regulator to force a domestic bond listing in Madrid.
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Debt-strapped Wuzhou International Holdings will be unable to make payments on its $300m bond this week, adding to a spate of other non-payment situations, including failing to redeem a $100m convertible bond as well as defaulting on a renminbi note and on some of its loan obligations.
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China’s Health and Happiness (H&H) International Holdings has cancelled an exchange offer as well as a concurrent new money issuance, becoming one of three issuers to pull deals this week, as bankers blame the recent explosive supply on weaker investor demand.
