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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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The London Stock Exchange’s Order book for Retail Bonds (ORB) opened the year with a $180m issue from Burford Capital, the litigation finance firm. -
In just over a month, Italy will hold its latest general election. With the polls suggesting a healthy lead for a centre right coalition the effect on investment grade corporate spreads has been negligible so far. However, research house CreditSights believes investors should be looking more closely.
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Asia’s capital markets have started the year with a bang, but a market this good can’t last forever. The steady supply of new deals coming out at increasingly tight levels is a sign of clear frothiness in the market. Just take a look at the investor enthusiasm for low-rated Indonesian deals for an example of how bullish investors have become when they should be thinking twice.
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Recent heavy supply in the Asian dollar bond market has found its first victim in Yango Group Co, which called off a planned $250m deal on Monday. While the Chinese developer’s high leverage raised some concerns, volatility in US Treasuries also played its part in the underwhelming demand.
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The European Commission is being advised to set up a comprehensive Sustainability Taxonomy by 2020 to guide investment decisions towards a greener economy, and to develop an official EU Green Bond Standard. These are key recommendations of its High Level Expert Group on Sustainable Finance, according to a leaked draft copy of its report seen by GlobalCapital.
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US lottery and gaming group Scientific Games International sold its first euro bonds this week, in a European high yield market that bankers and investors described as ready and steady for opposite reasons.
