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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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The grace period has ended for Codere’s coupon payment on its dollar high yield bond. The troubled Spanish gambling company was required to pay the semi-annual coupon today (Wednesday) to avoid defaulting on its debt, but announced on Tuesday that it would not do so. -
Liberty Global’s smooth takeover of Virgin Media last year showed that Europe’s leveraged finance and high yield markets are more than capable of handling big deals. But they have not been called on to do so since — until now.
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Maoye International Holdings is yet to price its debut CNH bond which has led to market speculation that the deal has been pulled. However, bankers on the trade continue to say that books are still open.
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Italian carmaker Fiat joined the recent flurry of crossover issuers on Tuesday with a seven year speculative grade rated bond. The deal attracted strong demand of over €4.5bn, which allowed Fiat to issue €1bn.
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ArcelorMittal raised €750m of five year notes today, in its first bond issue since announcing the call of its hybrid bond in January.
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All has been quiet with Chinese retailer and property developer Maoye International’s debut dim sum deal as bankers hold back announcing deals amid a market filled with uncertainty. The Maoye deal had been expected to price last night, after bankers announced initial guidance yesterday morning.
