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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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  • Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.
  • Cairn Capital, the alternative credit asset management firm in which Mediobanca has a majority stake, has agreed a deal to buy and merge with Bybrook Capital.
  • GCL New Energy Holdings, a Chinese solar power company, has failed to repay a $500m bond that was due on January 30.
  • Property company China Fortune Land Development has missed payments on Rmb5.255bn ($813m) of onshore debt, adding to concerns about its liquidity condition and access to funding.
  • Mongolian Mortgage Corp (MIK), which was forced to pull its dollar bond last month after sudden political upheaval in the country, returned to the market on Monday to raise $250m.
  • A blistering pace of supply in Asia’s dollar bond market in January is set to continue, with more borrowers preparing to print deals this week ahead of the Chinese New Year holidays. But DCM bankers say there are some signs of rising pressure.