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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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Investors are keeping a close eye on the widening of corporate bond spreads that started in the second half of last week and has continued this week. And for the first time in many weeks, issuers are having to pay more for their new debt.
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Fixed-line telecom operator WTT HK priced a $670m bond on Tuesday, with the rare Hong Kong high yield name attracting robust investor interest. Despite a choppy market, the issuer tightened pricing by 37.5bp, and the notes held up well in secondary. -
Two green issuers from China are wooing buy-side accounts for new bonds, with Concord New Energy Group and Bank of China collecting investor orders from Wednesday morning.
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Chinese issuers Xinyuan Real Estate Co and Hong Yang Group Company are attracting bids for new dollar transactions, while Oceanwide Holdings Co is set to hold a two-day roadshow in Hong Kong.
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Swiss telecom group Salt Mobile printed a high yield fixed rate issue on Tuesday, its second deal this year, as it replaced floating rate notes with new bonds. They were priced at the wide end of guidance.
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Guangzhou R&F secured a $500m 2023 bond on Monday, leveraging on a heavy anchor order book to seal the deal.
