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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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Naftogaz did itself few favours this week with its farcical approach to repaying holders of its $1.6bn Eurobond. When Ukraine’s state owned oil and gas company missed its bond payment on September 30, it risked more than a few irate investors.
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Ukrainian state-run oil and gas company Naftogaz has confirmed the repayment of its $1.6bn eurobond after failing to meet its September 30 deadline. While the delay did not come as a surprise to many, bondholders were left with sweaty palms on Wednesday and whispers of default did not do the country’s capital market standing any favours. -
Seven Energy made a successful comeback in testing conditions on Thursday. While it certainly paid for the privilege, having already secured strong anchor orders before proceeding, the trade signals that the miserable high yield market may be improving.
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Bonds newly issued by Polish chemicals firm Synthos had traded down more than two cash points by early this week, with some bankers blaming the deal execution and warning that the trade might have hurt the chances of other Polish firms wanting to access the market. Bankers on the deal defended the sale, saying the issuer had set a very ambitious price target.
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Seven Energy is about to make it second time lucky, as it readies to price a seven year non-call four offering on Thursday.
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Ukrainian state run oil and gas company Naftogaz has confirmed the repayment of its $1.6bn Eurobond after failing to meet its September 30 deadline. While the delay did not come as a surprise to many, bond holders were left with sweaty palms on Wednesday and whispers of default did not do the country any favours.
