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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
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
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Sunac China Holdings tapped two of its dollar bonds on Thursday, using up the $320m left of its offshore issuance quota. -
MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.
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Unrated real estate company Ganglong China Property Group sold its maiden dollar bond on Wednesday, nabbing $150m from the high yield transaction.
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Deutsche Lufthansa decisively showed that bondholders will buy airline credit once again, without relying on extra security, extra upside or anything other than a broad-based mood of credit euphoria that is sending risk assets soaring.
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Greene King’s pub securitization Spirit Issuer is expected to default this year, after bondholders declined to waive potential covenant breaches in the same way they did for other pubcos, including the company’s larger, whole business securitization. This will give bondholders the right to enforce security, but it will test creditors’ desire to take over the assets outright.
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Shui On Land tapped its 5.75% 2023 bond on Tuesday for an additional $200m, bringing the unrated deal to $500m.
