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LevFin High Yield Bonds

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US issuers and insurance companies could benefit as Moody’s relaxes parts of its approach
Investors attracted by relative value versus loans but are not blind to risk
Company takes advantage of high yield revival
Floridian manager registered the vehicle in Ireland with article 8 SFDR classification
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  • Road King Infrastructure found strong support for its high yield dollar deal on Tuesday, gathering $2bn of orders for a $300m transaction.
  • Shandong Commercial Group Co followed its Chinese state-owned peers into the dollar market on Tuesday, but found limited support from investors for its $180m unrated bond.
  • Conditions are ripe for a resurgence in high yield bond and leveraged loan issuance, and market participants expect companies to start coming to the market as early as next week, with a variety of motivations.
  • Future Retail made a $14m payment on its outstanding dollar bond this week, narrowly avoiding a default.
  • SRI
    One of the more unusual green bonds of 2019, the $125m high yield issue for Teekay Shuttle Tankers, which operates ships serving the offshore oil industry, was tapped on Friday for $75m under the company's new name of Altera Shuttle Tankers.
  • UBS reckons it has a hit upon a ‘unique formula’ for growth as it expands its investment banking offering to its high net worth clients, writes David Rothnie.