Latest high yield bond news

• Levfin and a bad block weigh on Credit Suisse

  

  Credit Suisse’s fourth quarter results showed damage from the high yield and leveraged finance market’s tantrum in the last quarter of 2018. The bank was also hit by a Canada Goose block trade gone wrong.

  • 14 Feb 2019

• People moves in brief

  Santander hires European ABS trading head – Créd Ag shuffles CIB – Liquidnet appoints president

  • 14 Feb 2019

• Astaldi unveils Salini takeover and recap plan

  Troubled Italian construction company Astaldi announced on Thursday that it had an offer from rival firm Salini Impregilo to inject €225m of new capital, take over control of the firm, and convert unsecured creditors, including high yield bondholders, into shareholders of the group.

  • 14 Feb 2019

• Triple-B corporate bond storm worries overblown, say investors

  

  One of the most covered aspects of the bond market by more mainstream media in recent months has been the value of triple-B rated corporate debt due to mature in coming years and what problems that might cause in the event of an economic downturn. However, this has prompted investors to start to quell any fears of these risks.

  • 13 Feb 2019

• Nikko Asset Management adds to London high yield credit team

  Nikko Asset Management said it had hired Richard Kehoe as senior high yield analyst for its global fixed income team in London.

  • 11 Feb 2019

• New knock for Adient bonds as covenants weakened, results disappoint

  

  High yield bonds for auto parts manufacturer Adient slipped more than three points on Thursday as the company tweaked its loan covenants and produced disappointing numbers. The firm’s new management is taking aggressive action to turn the group around and says it needs the financial headroom to do so.

  • 07 Feb 2019

• Dia’s top shareholder offers new equity, but risks remain for bondholders

  

  LetterOne, the largest shareholder in troubled Spanish retailer Dia (Distribuidora Internacional de Alimentación), has unveiled a tender for the group’s shares, along with a plan to inject €500m of equity, as an alternative to the existing management plan for the group. The share price bounced on the news, but bondholders need more clarity about LetterOne’s intentions — and about what will happen to the firm’s €1.3bn of trade payables.

  • 06 Feb 2019

• UK plc suffers but Brexit outcome could give boost

  

  Capital market sentiment in the UK has weakened as the country awaits the detail of its scheduled departure from the EU, if a couple of indicators published this week are anything to go by. However, even a bad Brexit could be welcomed by corporate financiers.

  • 06 Feb 2019

• ESG shaping investors’ corporate bond decisions

  

  Green bond issuance has been in hot demand so far this year with investors allocating ever greater sums to sustainable and ethical mandates. However, it is not just the green labels on deals that are affecting their decisions.

  • 06 Feb 2019

• Bond king retires after a pauper’s year

  

  Portfolio manager Bill Gross, regarded as a legend of the fixed income investment world, announced his retirement on Monday, after a torrid year for the global unconstrained bond fund he managed at Janus Henderson Investors.

  • 04 Feb 2019

High yield bond news archive