digital corporate bond issuance. What Happened: Hitachi (HTHIF) ?issued the five-year green bonds with a coupon rate of 0.598%, Bloomberg reported. Nippon Life Insurance revealed that it purchased half of the $68 million offering. Emiri Matsuo of Hitachi's (HTHIF) treasury division financing department said that life insurers, central public institutions, and other corporates also acquired the securities.
Bayer AG? reportedly held an investor call to address concerns after intense scrutiny from investors following a series of unforeseen setbacks, prompting questions about transparency surrounding its?recent?$5.75 billion bond issuance. The company encountered a cascade of issues, including a major setback in a late-stage anti-clotting drug trial that led to?its abrupt termination.
Several analysts downgraded?Enphase Energy Inc? following?its weak Q3 FY23 earnings. Yesterday, Enphase reported EPS of $1.02, missing the $1.03 estimate. The company anticipates Q4 revenue of $300 million-$350 million, far short of the?$601.24 million estimate. Oppenheimer?analysts downgraded the stock to Perform from Outperform and removed the $191 price target.
Enovis Corporation shares are trading lower on Thursday after the company announced a proposed private offering of $400 million of convertible senior notes and issued preliminary third-quarter results. What To Know: Enovis announced its plan to offer $400 million aggregate principal amount of Convertible Senior Notes due in 2028, in a private offering.
Sino-Ocean Group Holding Limited became the latest in a long line of Chinese property developers to default on its bond repayments after asking its creditors to wait a further two months for scheduled interest payments Friday. The announcement follows a freezing of $4 billion of offshore debt by the company last month.
Apex Fintech Solutions?launched its new fixed-income investing platform through which everyday retail investors will be able to directly invest in fixed income through fractional corporate bonds and treasuries. This is contrary to the traditional methods where fixed-income investing usually requires larger investments.
Rivian Automotive, Inc. witnessed an approximately 8% drop in?after-hours trading?on Wednesday after announcing a debt offering. Debt Offering:?Rivian, headquartered in Irvine, California, revealed its intention to raise $1.5 billion by issuing green convertible senior notes due in 2030 through a private offering to qualified institutional buyers.
On CNBC's "Halftime Report Final Trades," Jenny Harrington of Gilman Hill Asset Management said NNN REIT, Inc. has 6.1% dividend yield. NNN REIT priced its public offering of $500 million of 5.600% senior unsecured notes due 2033. Benzinga's analyst rating data shows a consensus Buy rating on NNN REIT.
Zoom Video Communications Inc. CEO Eric Yuan thinks that his employees cannot be as innovative or bond with their colleagues over Zoom calls after the remote working software won the jackpot in 2020 and later due to the Covid-19 pandemic. What Happened: Yuan said in an internal memo that it's not possible to build trust or have a great conversation over Zoom calls, reported Insider.
The bond market has stormed back into the spotlight this week, with Treasury yields at maturity reaching levels unseen in over a decade. The benchmark 10-year yield soared past the 4.30% mark, marking its highest point since November 2007.
Tetra Tech Inc? has priced its $500.0 million aggregate principal amount of 2.25% Convertible?Senior Notes due 2028 in a private placement. Tetra Tech has also granted the initial purchasers of the notes an option to purchase up to an additional $75.0 million of the notes.
El Salvador president Nayib Bukele's embracing of Bitcoin was initially met with skepticism on Wall Street. These returns are the highest among dollar bonds from emerging markets in 2023, Bloomberg reported. JPMorgan Chase & Co, Eaton Vance and PGIM Fixed Income have either recommended or purchased the debt, anticipating further growth.
China is grappling with a monumental financial challenge as the turmoil in its real estate sector reverberates throughout the broader economy. On Wednesday, a group of investors staged a protest outside the Beijing headquarters of Zhongrong International Trust Co., one of the country's leading trust companies and financial services providers.
Real estate investment trust?NNN REIT Inc? has?priced its public offering of $500 million?of 5.600% senior unsecured notes due 2033. The notes were offered at 97.676% of the principal amount with a yield to maturity of 5.905%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, commencing on April 15, 2024. The notes mature on October 15, 2033.
The S&P 500 closed lower for the second straight session on Wednesday after Fitch cut the U.S. government's credit rating to AA+ from AAA. The ADP said private businesses in the U.S. added 324 thousand workers in July versus a revised 455 thousand rise and surpassing market estimates of a 189 thousand increase.
Nvidia Corp? stock is trading lower Wednesday along with the broader market after Fitch on Tuesday downgraded the U.S. credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations.
Booz Allen Hamilton Holding Corporation? said its wholly-owned subsidiary, Booz Allen Hamilton Inc,?has priced $650 million aggregate principal amount of its 5.950% Senior Notes due 2033. The offering is expected to close on August 4, 2023, subject to certain closing conditions.
Public Storage? disclosed the pricing of a public offering of?senior notes worth $2.2 billion. The company plans to mainly fund the recently announced Simply Self Storage buyout through the multi-tranche offering, which includes an inaugural 30-year senior note offering.
Frontier Communications Parent Inc? said an indirect subsidiary of the company?intends to offer approximately $1.05 billion?of secured fiber network revenue term notes. The bond deal can potentially upsize, subject to market conditions and other factors. The notes will be secured by certain of Frontier's fiber assets and associated customer contracts in the Dallas metropolitan area.
Landsea Homes Corporation? has?entered into a note purchase agreement?with various investors, including funds and accounts managed by?BlackRock Financial Management Inc?and affiliates thereof and?Angelo, Gordon & Co., L.P. The note purchase agreement provides for the private placement of $250 million of 11% senior notes due 2028.
We performed a screening of mid-cap ETFs - defined as having Assets Under Management between $2 billion and $10 billion - to determine what funds had the largest change in net assets on the week, according to data from etfdb.com. Only non-leveraged funds were considered. Invesco BulletShares 2025 High Yield Corporate Bond ETF BSJP added $380.54 million in net assets over the trailing week.
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.
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