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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
Floridian manager registered the vehicle in Ireland with article 8 SFDR classification
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Norkse Skog, the Norwegian paper manufacturer subject to one of the bloodiest restructurings in European high yield this decade, is ready to test the market again, just over a year after Christopher Gate’s Oceanwood Capital Management took over the troubled company.
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Schaeffler’s holding company priced on Wednesday a huge four tranche PIK toggle bond, part of a comprehensive refinancing that will cut its debt load by €500m and push out its maturities.
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Chinese issuer Huachen Energy has skipped a dollar bond coupon, as its troubled parent company Wintime Energy slips further into a liquidity crisis.
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B2Holding, the Oslo-based debt purchasing and servicing firm, has printed a new €200m senior unsecured 2024 at 635bp over three month Euribor, using the cash to buy back older issues. It plans a new secured bond later this year to fund rapid expansion plans.
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Oceanwide Holdings Co has priced a new $280m two year bond to replace in part an imminent maturity, paying one of the highest yields Asia has seen so far this year.
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Mongolian conglomerate Tavan Bogd Trade pulled its debut dollar bond transaction on Thursday after the order book was closed. The high yield borrower had offered investors 12% for the three year bullet, but ultimately decided to postpone the final sale.