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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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India’s JSW Steel raised $500m from its new five year notes on Wednesday, finding strong support from European accounts familiar with its credit and business.
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Issuers from Greater China, including Yanzhou Coal Mining Company (Yancoal) and Regal Hotels International Holdings, have opened books for new perpetual notes, while China Oil and Gas Group has mandated firms for its return.
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Modernland Realty launched a new dollar deal on Thursday, following on the success of other high yield Indonesian names this year.
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Spanish car parts supplier Grupo Antolin found strong demand for its refinancing deal on Thursday in a high yield market where new bond sale volumes have dropped to less than a third of March’s €3bn average.
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Petra Diamonds became the first South African issuer to test the markets in the wake of an aggressive cabinet reshuffle that saw the dismissal of respected finance minister Pravin Gordhan last week.
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Corporate bond issuers in Europe were making up for lost time with a slew of deals on Wednesday, after a sluggish start this week with just one deal for Renault’s finance arm RCI Banque on Monday. Books are big and deals are tightening strongly in bookbuild.