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Disruptive US economic policy has not yet dented credit appetite
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
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Xi'an Municipal Infrastructure Construction Investment Group Corp is seeking dollar funding, becoming the latest Chinese local government financing vehicle to hit the bond market.
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Housing Development Finance Corp, which became the first Masala bond issuer from India in July, has made a comeback to the market with a tap of its existing note.
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Dollar investors are getting the chance to assess two first-time issuers, with Emperor International Holdings and Union Life Insurance hitting the road.
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High yield investors are showing a taste for safety as autumn begins, with double-B rated deals once again the choice. But while risk aversion is justified, buyers should focus their scrutiny on sectors, not rating bands.
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Saipem, the Italian oil services company, on Thursday priced €1bn of unsecured bonds in a high yield market still looking at a thin pipeline.
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UK distressed debt buyer Arrow Global this week returned to the market, after selling euros in April, with a refinancing deal to repay in full its 7.875% 2020 notes.