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◆ Reoffer yield second lowest of the year ◆ Euro hybrid yields tear tighter ◆ Proceeds to refinance upcoming maturity
◆ Borrower prices inside fair value ◆ Sub/senior spread less than 100bp ◆ Issuer accelerates funding to take advantage of good window
The company is by far the most prolific issuer of hybrids in the Gulf
As thrilling as last week's Reverse Yankee-led corporate bond fest in Europe may have been, it did not confirm the market has matured to its magnificent final form
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The fragility of corporate hybrid capital was laid bare again this week, when Standard & Poor’s stripped the equity credit from 29 bonds, issued by 14 issuers.
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Standard & Poor’s has taken the corporate hybrid bond market by surprise, by withdrawing the equity credit from 29 bonds, giving issuers only 24 hours' notice before publishing its decision. -
Hybrid capital bankers who have insisted for the last few years that the rating agencies’ criteria were now stable and settled will be eating their words today. Standard & Poor’s has stripped the equity credit from 29 corporate hybrids, though it claims this is not a criteria change.
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After weeks of volatility and fractious executions in Europe's corporate bond markets, BHP Billiton has pulled off the biggest ever corporate hybrid bond sale, proving investors are open to buying even quite challenging deals, if they come with lashings of yield, writes Ross Lancaster.
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Ascendas Real Estate Investment Trust (Reit) attracted strong demand for its S$300m ($210m) subordinated perpetual bond, with institutional investors drawn to its credit rating and good name.
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Ascendas Real Estate Investment Trust (Reit) is looking to raise capital for a planned acquisition in Australia, wooing investors in the Singapore dollar hybrid market.
