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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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Bonds from India’s Future Retail rallied in the secondary market this week, after Reliance Industries got approval to buy the struggling business. -
German flag carrier Lufthansa mandated a new unsecured bond on Monday, two weeks after it stormed into the convertible market on the back of the rally sparked by positive Covid-19 vaccine trials. The airline might have lost its investment grade ratings, but it is sticking to high grade bond execution norms, prepping a Reg S-only unsecured issue from its EMTN shelf.
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China Evergrande Group got a boost to its bond and stock prices on Monday, after its flagship subsidiary convinced a large group of equity holders not to exercise a put option. The company also secured two new state-backed investors.
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Changxing Urban Construction Investment Group Co, a Chinese company focused on construction services, announced its debut dollar transaction on Thursday. But the deal was not priced as of Monday, GlobalCapital Asia understands.
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Ford shrugged off its loss of investment grade status to return to the Swiss franc market this week after a 19 year absence to print a three year deal targeted at private bank investors.
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If a company’s bonds were yielding more than 40% last December, what would have been the chances it would be in a position to raise market funding this week? That’s exactly what UK poultry producer Boparan has achieved in an extraordinary reversal of fortunes against the backdrop of a global pandemic.
