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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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Balkan telecoms and cable company United Group slipped into the high yield market on Monday to launch a drive-by bond as it released its earnings results, seizing on strong market conditions to repay its revolving credit facility and part-fund the purchase of Greece’s Forthnet. -
Bonds from India’s Future Retail rallied in the secondary market this week, after Reliance Industries got approval to buy the struggling business.
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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.
