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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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Tui AG, the German tourism group, emerged with a smaller than expected bond issue on Friday, the last day of a four day European roadshow.
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Oil rig maker Honghua Group made its inaugural issue in international markets on Thursday. Having opted for the Reg S /144A format to tap into the US investor base, the Chinese company pulled in an impressive $1.4bn order book for the $200m five year non call paper. -
Holders of bankrupt UK phone retailer Phones 4U’s senior secured bonds were left dangling in the wind this week, after PricewaterhouseCoopers, the administrator, summarily rejected the offer by some bondholders of a debt-for-equity swap to keep the company alive. Lucy Fitzgeorge-Parker reports.
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High yield bond investors were reassessing their exposure to retail and consumer companies this week after Phones 4U’s shock collapse.
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Outokumpu, a leading producer of stainless steel and high performance alloys, overcame a track record of lacklustre profitability to make a triumphant return to the high yield bond market on Thursday.
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Investors in Phones 4U’s bonds were not complacent by holding the bonds, which are facing default after the UK mobile phone retailer went into administration on Sunday, a London fund manager argued today.
