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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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Hangzhou Jianggan District Urban Construction and Comprehensive Development Co has raised $200m from a bond, shrugging off news from last week that a Xinjiang local government financing vehicle (LGFV) had unexpectedly missed payments on a renminbi note. -
Chris Munro, co-head of leveraged finance for Europe, Middle East and Africa at Bank of America Merrill Lynch, is leaving London to take up a new role as the bank’s sole global head of leveraged finance in New York.
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European private equity firms are raising an increasing number of mega-funds this year, according to data and software firm PitchBook. At the same time, their share of high yield bond issuance has almost doubled.
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Private equity firms have bolstered their high yield footprint in European and Nordic issuance, but yield spreads are also running up, according to SEB this week.
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India’s Reliance Communcations (RCom) tender and exchange offer, unveiled last week, would clear the issuer’s books of its $300m 6.5% 2020 bond. But since RCom defaulted on a payment for the notes last November, it is in no position to offer investors such paltry tender and exchange terms.
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The summer break in European corporate bond markets has shortened in recent years to as little as two weeks in August, but investors know that the dollar market is always an option.
