Amazon priced last Tuesday the fourth-largest bond of the year, a US$16bn seven-parter that sailed through a market that had been showing signs of supply fatigue.
Auden Group, a fintech company providing short-term loans to borrowers with poor credit histories, has structured and sold the first asset-backed security parcelling up such assets.
Japan’s growing appetite for overseas bonds is raising a debate over the role of global DCM practices in the yen markets.
There may be no such thing as a free lunch in finance, but Tesla gave away the equivalent of about 200 of its new Model 3 cars in its junk-bond deal in what it called a goodwill gesture.
Borrowers in Japan are flocking to the bond markets, as signs of an improving economy strengthen the argument that the central bank may begin steadily reducing years of monetary stimulus.
Energy Transfer Partners, one of the largest publicly traded master limited partnerships, swallowed a bitter pill as it secured US$1bn in an overnight stock sale on Monday. The cash infusion cures the pipeline operator’s funding needs until the middle of next year, but pricing was painful as shares have fallen by nearly a quarter this year.
Former convertible bondholders were proved right last week when Etihad Airways finally stopped propping up Air Berlin and the airline filed for insolvency. The German low-cost carrier had tried in February to keep convertible investors from exercising a put on 2019 paper by ramping up the coupon and slashing the premium in an exchange, but investors rejected the notion.
State-owned NTPC is aiming to become the first Indian company to complete a 10-year unsecured financing in the offshore loan market.
Novo Banco’s publication of the above average rates it will pay on deposits resulting from its liability management exercise targeting €8.37bn of bonds in the nationalised Portuguese bank do not materially change the economics of the offer.
A group of bondholders in Banco Popular have filed challenges to European regulatory decisions that put the Spanish bank in resolution on June 7 and led to Santander’s immediate purchase of the hastily restructured entity for €1.