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Offer came as markets recovered and volatility fell
Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
Eight banks provided loan facility to company
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Argentina finally filed its official updated debt restructuring proposal this week and, as expected, drew the support of bondholders. But the bigger news may be in the small print, as sovereign debt experts immediately began to examine the changes implemented to the bonds' collective action clauses (CACs). -
It’s amazing how quickly the conversation around Avis has changed over the last few months. In April, investors worried that Avis would follow Hertz, its car rental rival, into bankruptcy by the end of 2020. But Avis’s performance in the second quarter and its recent success in the ABS market suggest it is in a much better position than its competitors to weather the recession.
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Finnair, the Finnish airline, is looking to print up to €200m of debt to pay for a tender offer on its first call October 2020 hybrid notes.
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Envestnet Inc, the US provider of software to the wealth management industry, has raised $450m via the sale of a new convertible bond, joining the horde of software companies that have tapped the equity-linked market during the pandemic.
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Cash-strapped Chinese conglomerate HNA Group is once again deferring interest payments on a domestic perpetual bond. The move comes amid rising expectations of more coupon delays and failure by borrowers to redeem their onshore perps on the call dates, writes Addison Gong.
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Will India ever come to the international bond market? Fears of foreign currency exposure and dissenting voices in the government derailed a planned deal last year. Now is the perfect time to try again.
