S&P Global Ratings will lower its ratings starting point for Mexican non-bank financial institutions to BB-minus from BB, citing financing risks, the ratings agency said on Tuesday. The situation for the institutions is becoming "more difficult" after the announcement last week that Mexican leasing firm Unifin would miss principal and interest payments, S&P said.
Fairfax Financial Holdings Limited (FRFHF) has completed its previously announced offering of US$750 million in aggregate principal amount of 5.625% Senior Notes due 2032. Fairfax intends to use substantially all of the net proceeds of this offering to purchase a portion of the non-controlling interests in Allied World Assurance Company Holdings, Ltd, and use any remainder for general corporate purposes.
AM Best has downgraded the Financial Strength Rating to B+ from B++ and the Long-Term Issuer Credit Ratings to ?bbb-? from ?bbb? of the members of Bankers Insurance Group. The ratings reflect Bankers? balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
Expanded offerings include new issue CDs, Rate-Linked Notes, and InterNotes corporate debt InspereX, the technology company transforming how fixed income and market-linked products are accessed, evaluated, and traded, announced today that BondNav?, the firm?s pioneering fixed income data aggregation technology, is adding new issue offerings for brokered certificates of deposit, select rate-link...
Ameren Corp (AEE): * AMEREN ILLINOIS ANNOUNCES PRICING OF FIRST MORTGAGE BONDS DUE 2032. * Ameren Corp (AEE) - UNIT OF CO ANNOUNCED PRICING OF PUBLIC OFFERING OF $500 MILLION 3.85% FIRST MORTGAGE BONDS DUE 2032 AT 99.827% OF THEIR PRINCIPAL AMOUNT Source text for Eikon: Further company coverage:
ST. LOUIS, Aug. 15, 2022 Ameren Illinois Company, a subsidiary of Ameren Corporation (AEE), announced today the pricing of a public offering of $500 million aggregate principal amount of 3.85% first mortgage bonds due 2032 at 99.827% of their principal amount.
Agree Realty Corp (ADC): * AGREE REALTY ANNOUNCES PRICING OF $300 MILLION OF 4.800% SENIOR UNSECURED NOTES DUE 2032. * Agree Realty Corp (ADC) - AGREE LIMITED PARTNERSHIP PRICED A PUBLIC OFFERING OF $300 MILLION OF 4.800% SENIOR UNSECURED NOTES DUE 2032.
IRVING, Texas, Aug. 15, 2022 Darling Ingredients Inc. (DAR) today announced the pricing of its private offering of $250.0 million aggregate principal amount of its 6% unsecured senior notes due 2030. the United States to persons reasonably believed to be "qualified institutional buyers" in reliance on Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non?U.S. ...
Royal Caribbean Cruises Ltd (RCL): * ROYAL CARIBBEAN GROUP ANNOUNCES UPSIZING AND PRICING OF $1,250,000,000 SENIOR UNSECURED NOTES TO REFINANCE NEAR TERM DEBT MATURITIES. * ROYAL CARIBBEAN GROUP - PRICED PRIVATE OFFERING OF $1.25 BILLION OF 11.625% SENIOR UNSECURED NOTES DUE 2027. * ROYAL CARIBBEAN GROUP - NOTES WILL MATURE ON AUGUST 15, 2027 Source text for Eikon: Further company coverage:
MIAMI, Aug. 15, 2022 Royal Caribbean Group today announced that it has priced its private offering of $1,250,000,000 aggregate principal amount of 11.625% senior unsecured notes due 2027. The Company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing in 2022 and/or 2023.
"Demand for low-duration tax-exempts has been so strong that short maturity benchmark yields are now lower than the after-tax yields for comparably rated benchmark taxable muni and corporate bonds," said CreditSights strategists Pat Luby and John Ceffalio.
IRVING, Texas, Aug. 15, 2022 Darling Ingredients Inc. (DAR) today announced the launch of an offering of $250.0 million in aggregate principal amount of unsecured senior notes by Darling.
Royal Caribbean Cruises Ltd (RCL): * ROYAL CARIBBEAN GROUP ANNOUNCES PROPOSED OFFERING OF SENIOR UNSECURED NOTES TO REFINANCE NEAR TERM DEBT MATURITIES. * ROYAL CARIBBEAN GROUP - HAS COMMENCED A PRIVATE OFFERING OF $1 BILLION OF SENIOR UNSECURED NOTES DUE 2027. * ROYAL CARIBBEAN GROUP - INTENDS TO USE PROCEEDS FROM SALE OF NOTES TO REPAY PRINCIPAL PAYMENTS ON DEBT MATURING IN 2022 AND/OR 2023.
MIAMI, Aug. 15, 2022 Royal Caribbean Group today announced that it has commenced a private offering of $1,000,000,000 aggregate principal amount of senior unsecured notes due 2027. The Company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing in 2022 and/or 2023.
- Global ratings agency S&P Global on Monday slashed its rating on Sri Lankan bonds to 'D', representing default, following missed interest and principal payments. The South Asian nation, which had defaulted on a bond payment earlier this year and has $12 billion in overseas debt with private creditors, has been battling the worst financial crisis in its independent history.
? Company Allocated Over $356 Million in Green Bond Net Proceeds to Eligible Green Projects ? Kimco Realty?, North America?s largest publicly traded owner and operator of open-air, grocery-anchored shopping centers, including mixed-use assets, today announced the publication of its second Green Bond Report, outlining the use of the net proceeds and the associated estimated environmental impact ...
Global ratings agency S&P Global on Monday slashed its rating on Sri Lankan bonds to 'D', representing default, following missed interest and principal payments. The South Asian nation, which had defaulted on a bond payment earlier this year and has $12 billion in overseas debt with private creditors, has been battling the worst financial crisis in its independent history.
China's central bank unexpectedly cut key interest rates for the second time this year and withdrew some cash from banking system on Monday, in an attempt to revive credit demand to support the COVID-hit economy.
Global rating agencies S&P and Fitch on Friday lowered Ukraine's foreign currency ratings, saying they consider the country's debt restructuring as distressed.
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of ?bbb+? and the Mexico National Scale Rating of ?aa+.MX? of Grupo Mexicano de Seguros, S.A. de C.V.. The outlooks assigned to these Credit Ratings is positive.
Liberty Media Corporation (LSXMA) announced today that it has closed its previously announced private offering of $475 million aggregate principal amount of its 2.25% convertible senior notes due 2027, including notes with an aggregate principal amount of $50 million issued pursuant to the exercise of an option granted to the initial purchasers, which was exercised in full.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb? to the recently announced USD 750 million, 5.625% senior unsecured notes, due Aug. 16, 2032, of Fairfax Financial Holdings Limited.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb? to the forthcoming $1.2 billion, 6% junior subordinated notes, due Sept. 1, 2052, and the $300 million, 5.95% junior subordinated notes, due Sept. 1, 2062, to be issued by Prudential Financial, Inc. [NYSE: PRU]. The outlook assigned to these Credit Rating is stable.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the operating subsidiaries of AXIS Capital Holdings Limited, collectively referred to as AXIS.
Cerevel Therapeutics Holdings Inc (CERE) : * CEREVEL THERAPEUTICS ANNOUNCES PRICING OF $254 MILLION PUBLIC OFFERING OF COMMON STOCK AND CONCURRENT $300 MILLION PRIVATE OFFERING OF CONVERTIBLE SENIOR NOTES. * CEREVEL THERAPEUTICS (CERE) - PRICING OF PREVIOUSLY ANNOUNCED UNDERWRITTEN PUBLIC OFFERING OF 7,250,000 SHARES OF ITS COMMON STOCK AT A $35.00 PER SHARE Source text for Eikon: Further company coverage:
Cerevel Therapeutics Holdings, Inc. (CERE), a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases, announced today the pricing of its previously announced private offering of $300.0 million aggregate principal amount of 2.50% convertible senior notes due 2027 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securi...
Cerevel Therapeutics Holdings, Inc. (CERE), a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases, announced today the pricing of its previously announced underwritten public offering of 7,250,000 shares of its common stock at a public offering price of $35.00 per share, or approximately $253.8 million of shares of its common stock.
S&P Global?has lowered its credit rating of?Coinbase Global Inc? citing a "negative" outlook for the cryptocurrency exchange. What Happened:?S&P Global lowered its long-term issuer credit rating and unsecured debt ratings on Coinbase to 'BB' from 'BB+' on Thursday.
Saba Capital, is a New York-based hedge fund run by Boaz Weinstein,?who is known for betting against junk-rated corporate credit. What Happened: That philosophy proved to work during the bond sell-off triggered by the COVID-19 pandemic. The pandemic shut down many industries in Asia, Europe and the U.S., causing waves of corporate defaults and pushing down the price of lower-rated corporate bonds.
Fairfax Financial Holdings Limited (FRFHF) announces that it has priced a private offering of US$750,000,000 of Fairfax?s Senior Notes due 2032 at an issue price of 99.856%. The Notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 5.625% per annum.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of the members of Allstate Insurance Group . Additionally, AM Best has affirmed the FSR of A and the Long-Term ICRs of ?a? of the members of Allstate New Jersey Insurance Group and First Colonial Insurance Company.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the key life/health subsidiaries of Globe Life Inc. (GL) [NYSE: GL]. Concurrently, AM Best has affirmed the Long-Term ICR of ?bbb+? of Globe Life.
AM Best has downgraded the Financial Strength Rating to A- from A and the Long-Term Issuer Credit Ratings to ?a-? from ?a? of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation (KMPR) [NYSE: KMPR], collectively referred to as Kemper Property & Casualty Group.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?aa-? from ?aa? and affirmed the Financial Strength Rating of A+ of the property/casualty members of Erie Insurance Group.
The debt issued through conduit Gallatin County, Montana, benefits an aerial firefighting company that went public through a SPAC weeks after the bonds sold.
Texas Instruments Inc (TXN): * TEXAS INSTRUMENTS PRICES $700 MILLION OF INVESTMENT GRADE NOTES. * TEXAS INSTRUMENTS (TXN) - PRICED $400 MILLION OF 3.650% SENIOR UNSECURED NOTES DUE AUGUST 16, 2032. * TEXAS INSTRUMENTS (TXN) - PRICED $300 MILLION OF 4.100% SENIOR UNSECURED NOTES DUE AUGUST 16, 2052 Source text for Eikon: Further company coverage:
DALLAS, Aug. 10, 2022 Texas Instruments Incorporated (TXN) today announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $700 million. The notes consist of the following: TI expects to use the net proceeds of this offering for general corporate purposes.
The Investment Company Institute reported investors poured in $1.589 billion into muni bond mutual funds in the week ending August 3, the highest level since November.
Cerevel Therapeutics Holdings, Inc. (CERE), a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases, announced today that it has commenced a private offering of $250.0 million aggregate principal amount of convertible senior notes due 2027 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as a...
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of ?bbb? to Reaseguradora Delta, S.A.. The outlook assigned to these Credit Ratings is stable. The ratings reflect Delta Re?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
DBRS Limited assigned an Issuer Rating and Senior Secured Notes rating of BBB to Futbol Club Barcelona with Stable trends. FCB is one of the most popular franchises in the world?s most popular sport. FCB?s success on the pitch and ability to monetize its brand led to strong and consistent revenues prior to the onset of the Coronavirus Disease pandemic in 2020.
Tokio Marine HCC today announced that Fitch Ratings has affirmed the ?AA-? Insurer Financial Strength Ratings for its insurance company subsidiaries and the ?A? Long-Term Issuer Default Rating for HCC Insurance Holdings, Inc. The outlook for all of Fitch?s ratings is Stable.
Fitch: * FITCH DOWNGRADES GHANA TO 'CCC' * FITCH SAYS DOWNGRADED GHANA'S LONG-TERM FOREIGN-CURRENCY ISSUER DEFAULT RATING TO 'CCC' FROM 'B-' * FITCH SAYS DOWNGRADE REFLECTS DETERIORATION OF GHANA'S PUBLIC FINANCES, WHICH HAS CONTRIBUTED TO A PROLONGED LACK OF ACCESS TO EUROBOND MARKETS. * FITCH SAYS ESTIMATES THAT GHANA FACES USD2.75 BILLION OF EXTERNAL DEBT SERVICING IN 2022.
C-Bond Systems (CBNT), a nanotechnology solutions company, today announced that a private school in Uvalde, TX, has placed an order for security film from Patriot Glass Solutions, a division of C-Bond Systems.
Liberty Media Corporation (LSXMA) announced today that it has priced and agreed to sell to initial purchasers in an upsized private offering $425 million aggregate principal amount of its 2.25% convertible senior notes due 2027. The Notes will be convertible into cash, shares of Liberty?s Series C Liberty Formula One common stock or a combination thereof, at Liberty?s election.
Post Holdings, Inc. (POST) today announced the pricing of its previously announced offering of the Company?s 2.50% convertible senior notes maturing in 2027 to eligible purchasers. The Notes will be unsecured, senior obligations of the Company and will be guaranteed on the issue date by the Company?s subsidiaries that guarantee the Company?s existing senior notes.
Meta Platforms Inc (META): * Meta Platforms Inc (META) - ON AUGUST 9, ENTERED INTO AN INDENTURE AND A SUPPLEMENTAL INDENTURE WITH U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE. * Meta Platforms Inc (META) - PURSUANT TO INDENTURE COMPANY ISSUED $2.75 BILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 3.500% SENIOR UNSECURED NOTES DUE 2027.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Log In Required
Line of Credit Log In Required
Publication Date