Tidewater Inc (TDW): * TIDEWATER ANNOUNCES PRICING OF USD $175 MILLION SENIOR SECURED BOND ISSUE. * Tidewater Inc (TDW) - FINALIZED TERMS OF COMPANY'S OFFERING OF USD $175 MILLION IN SENIOR SECURED BONDS IN NORDIC BOND MARKET. * Tidewater Inc (TDW) - BONDS WILL MATURE IN NOVEMBER 2026 AND BEAR INTEREST AT 8.5% PER ANNUM.
Developer Xinyuan Real Estate Co said Friday that it had reached an exchange agreement with bondholders on its $229 million notes maturing Oct. 15. Xinyuan would deliver new bonds worth $205.4 million and $19.1 million cash to eligible bondholders on the settlement date, it said in a Singapore Exchange filing.
* S&P SAYS PERU OUTLOOK REVISED TO NEGATIVE ON INCREASED RISKS TO DEBT DYNAMICS; 'BBB+/A-2' FOREIGN CURRENCY RATINGS AFFIRMED. * S&P-PERU'S NEGATIVE OUTLOOK REFLECTS AT LEAST 1-IN-3 CHANCE OF DOWNGRADE OVER NEXT 6-24 MONTHS IF POLITICAL CHALLENGES LEAD TO POOR ECON PERFORMANCE.
Arko Corp. (ARKO): * ARKO CORP. ANNOUNCES PRICING OF ITS SENIOR UNSECURED NOTES OFFERING. * Arko Corp. (ARKO) - PRICING OF ITS PRIVATE OFFERING OF $450.0 MILLION OF 5.125% SENIOR UNSECURED NOTES DUE 2029 Source text for Eikon: Further company coverage:
Moody's: * MOODY'S CHANGES OUTLOOK ON OMAN'S RATING TO STABLE, AFFIRMS BA3 RATING. * MOODY'S SAYS CHANGED OUTLOOK ON GOVERNMENT OF OMAN'S ISSUER RATING TO STABLE FROM NEGATIVE. * MOODY'S SAYS AFFIRMED GOVERNMENT OF OMAN'SBA3 SENIOR UNSECURED MEDIUM TERM NOTE PROGRAM RATING.
Bong AB: * BONG ISSUES NOTES OF SEK 110 MILLION. * AN APPLICATION WILL BE MADE FOR NOTES TO BE LISTED ON CORPORATE BOND LIST OF NASDAQ STOCKHOLM. * SHARES IN A SUBSIDIARY AND AN INTRAGROUP LOAN WILL BE PLEDGED AS SECURITY FOR BONG'S OBLIGATIONS UNDER NOTES. * PROCEEDS WILL BE USED TOWARDS REDEMPTION OF COMPANY'S EXISTING NOTES, WHICH MATURE ON 19 OCTOBER 2021.
Ascopiave SpA: * ASCOPIAVE CLOSES $ 200M US PRIVATE PLACEMENT SHELF PROGRAM AND ISSUED SENIOR UNSECURED NOTES FOR ? 25M. * COMPLETES $ 200M US PRIVATE PLACEMENT SHELF PROGRAM WITH PRICOA CAPITAL GROUP LIMITED, PART OF PRUDENTIAL FINANCIAL INC INSURANCE GROUP. * AT CLOSING, ASCOPIAVE HAS ALSO ISSUED SENIOR UNSECURED NOTES OFF SUCH PROGRAM FOR ?25 MILLION AND STARTED REFINANCING OF BANK DEBT.
* OCEAN CAPITAL ISSUES OPEN LETTER TO SHAREHOLDERS OF UBS PUERTO RICO BOND FUNDS I, III AND VI REGARDING NEED FOR BOARDROOM CHANGE Source text for Eikon:
Shares of Chinese real estate firms slid on Thursday as investors fretted about a debt crisis rippling through developers including China Evergrande Group, a day after the sector was hit with fresh rating downgrades.
Shares and bonds of Chinese real estate companies slid on Thursday, reflecting uncertainty about how a debt crisis will play out at China Evergrande Group (EGRNF) and the wider property sector as another developer was hit by a rating downgrade.
Moody's: * MOODY'S SAYS US BROADBAND OUTLOOK STABLE ON ABATING COVID-19 IMPACT AND SUSTAINED DEMAND. * MOODY'S, ON U.S. BROADBAND, SAYS EXPECTS ORGANIC REVENUE TO GROW AN AVERAGE OF 2.3% OVER NEXT 12 TO 18 MONTHS.
Worries over possible spiralling effects of a debt crisis at developer China Evergrande Group drove Chinese high-yield spreads to record highs on Wednesday, days after the company missed another dollar bond deadline.
The rumbling crisis at China Evergrande Group (EGRNF) and other major homebuilders drove debt market risk premiums on weaker Chinese firms to a record high on Wednesday and triggered a fresh round of credit rating downgrades.
Capital Product Partners LP (CPLP): * CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES OFFERING OF SENIOR UNSECURED BONDS ON ATHENS EXCHANGE. * Capital Product Partners LP (CPLP) - PLANS TO OFFER IN GREECE UP TO EUR 150 MILLION OF UNSECURED BONDS. * Capital Product Partners LP (CPLP) - NET PROCEEDS OF OFFERING INTENDED FOR VESSEL ACQUISITIONS AND WORKING CAPITAL PURPOSES Source text for Eikon: Further company coverage:
The life insurance industry is at risk if there is a sharp rise in bond yields, with an extreme situation potentially causing insurers to liquidate investments reaching $1 trillion in the United States and Europe, the International Monetary Fund warned on Tuesday.
Arko Corp. (ARKO): * ARKO CORP. ANNOUNCES OFFERING OF SENIOR UNSECURED NOTES. * Arko Corp. (ARKO) - COMMENCING A PRIVATE OFFERING OF $450.0 MILLION OF SENIOR UNSECURED NOTES DUE 2029. * Arko Corp. (ARKO) - INTENDS TO USE NET PROCEEDS FROM OFFERING TO REPAY IN FULL OUTSTANDING BALANCE UNDER ITS CREDIT FACILITY WITH ARES CAPITAL CORP Source text for Eikon: Further company coverage:
Weatherford International PLC (WFRD): * WEATHERFORD INTERNATIONAL PLC ANNOUNCES THE COMMENCEMENT OF A $1,500,000,000 SENIOR NOTES OFFERING. * Weatherford International PLC (WFRD) - UNIT PROPOSING TO ISSUE $1.5 BILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR NOTES DUE 2030 IN PRIVATE OFFERING Source text for Eikon: Further company coverage:
Chinese property firms' bonds were hit with another wrecking ball on Monday as Evergrande looked set to miss its third round of bond payments in as many weeks and rival Modern Land became the latest scrambling to delay deadlines.
* Evergrande looks set to miss third round of bond payments. * Some offshore bondholders have not had payment - sources. * Modern Land asks investors to push back bond payment. * Sinic warns it is likely to default next week. By Andrew Galbraith and Marc Jones.
Chinese property firms' bonds were hit with another wrecking ball on Monday as Evergrande looked set to miss its third round of bond payments in as many weeks and rivals Modern Land and Sinic became the latest scrambling to delay deadlines.
Offshore bondholders of beleaguered developer China Evergrande Group (EGRNF) were on Monday bracing for news on more than $148 million in looming bond coupon payments after the company missed two coupon deadlines last month.
Chinese property firms watched their bonds take another beating on Friday as the prospect of a wave of defaults in the sector in the wake of China Evergrande's (EGRNF) troubles continued to scare off investors. Among a frenzy of developments, advisers for Evergrande bondholders said they had still not heard from the company following its recent missed bond payments.
China Evergrande Group (EGRNF) is expected to default on its offshore bond payment obligations imminently, investment bank Moelis & Co, which has been selected as an advisor by a group of the cash-strapped developer's bondholders said on Friday.
Tidewater Inc (TDW): * TIDEWATER ANNOUNCES CONTEMPLATED BOND ISSUE. * INTENDS TO COMMENCE AN OFFERING OF USD DENOMINATED 5-YEAR SENIOR SECURED BONDS Source text for Eikon: Further company coverage:
* Some Evergrande bondholders to discuss missed payment on Friday. * Fantasia onshore bond's trade suspended after slumping over 50% * Evergrande dollar-bond trustee Citi hires Mayer Brown as counsel. * Evergrande due to pay nearly $150 mln in coupons next week. By Andrew Galbraith and Anshuman Daga.
Physicians Realty Trust (DOC): * PHYSICIANS REALTY ANNOUNCES PRICING OF $500.0 MILLION OF 2.625% SENIOR UNSECURED NOTES DUE 2031 Source text for Eikon: Further company coverage:
Golar LNG Ltd (GLNG): * REG-GOLAR ANNOUNCES PRICING OF USD 300 MILLION UNSECURED BOND ISSUE. * Golar LNG Ltd (GLNG) - PLACED USD 300 MILLION IN SENIOR UNSECURED BONDS IN NORDIC BOND MARKET. * Golar LNG Ltd (GLNG) - BONDS WILL MATURE IN OCTOBER 2025 AND BEAR INTEREST AT 7.00% PER ANNUM Source text for Eikon: Further company coverage:
Thor Industries Inc (THO): * THOR INDUSTRIES ANNOUNCES PRICING OF UPSIZED SENIOR NOTES OFFERING. * Thor Industries Inc (THO) - PRICING OF ITS OFFERING OF $500 MILLION 4.000% SENIOR UNSECURED NOTES DUE 2029. * Thor Industries Inc (THO) - OFFERING SIZE WAS INCREASED FROM OFFERING SIZE OF $400 MILLION OF NOTES.
* FITCH - RECALIBRATES TAIWAN NATIONAL RATING SCALE. * FITCH - RECALIBRATION WILL RESULT IN RATING ACTIONS FOR SOME ISSUERS WITH TAIWANESE NATIONAL RATINGS Source text for Eikon: Further company coverage: [ ]
Autodesk Inc (ADSK): * AUTODESK PRICES FIRST SUSTAINABILITY BOND OFFERING. * Autodesk Inc (ADSK) - PRICING OF ITS FIRST SUSTAINABILITY BOND OFFERING OF AN AGGREGATE PRINCIPAL AMOUNT OF $1 BILLION IN 2.4% SENIOR NOTES DUE 2031 Source text for Eikon: Further company coverage:
American Campus Communities Inc (ACC): * AMERICAN CAMPUS COMMUNITIES, INC. ANNOUNCES PRICING OF $400 MILLION 2.250 PERCENT SENIOR UNSECURED NOTES DUE 2029. * AMERICAN CAMPUS COMMUNITIES, INC. ANNOUNCES PRICING OF $400 MILLION 2.250 PERCENT SENIOR UNSECURED NOTES DUE 2029.
WP Carey Inc: * W. P. CAREY INC. ANNOUNCES PRICING OF $350 MILLION OF SENIOR UNSECURED NOTES IN DEBUT GREEN BOND OFFERING. * WP CAREY INC - PRICED AN UNDERWRITTEN PUBLIC OFFERING OF $350 MILLION OF 2.450% SENIOR NOTES DUE 2032. * WP CAREY INC - NOTES WERE OFFERED AT 99.048% OF PRINCIPAL AMOUNT Source text for Eikon: Further company coverage:
Moody's: * MOODY'S SAYS STABLE OUTLOOK ON U.S.' AAA RATING REFLECTS VIEW THAT DEBT LIMIT WILL BE RAISED & U.S. WILL MEET DEBT-SERVICE OBLIGATIONS ON TIME. * MOODY'S SAYS BELIEVE U.S. DEMOCRATIC PARTY IS LIKELY TO USE BUDGETARY RECONCILIATION PROCESS TO RAISE DEBT LIMIT IN TIME TO AVOID MISSED INTEREST PAYMENT.
Moody's: * MOODY'S CHANGES INDIA'S RATING OUTLOOK TO STABLE FROM NEGATIVE; AFFIRMS BAA3 RATING. * MOODY'S SAYS ALSO AFFIRMED INDIA'S OTHER SHORT-TERM LOCAL CURRENCY RATING AT P-3.
Greenidge Generation Holdings Inc (GREE) : * GREENIDGE GENERATION ANNOUNCES PUBLIC OFFERING OF SENIOR UNSECURED NOTES DUE 2026. * Greenidge Generation Holdings Inc (GREE) - PLANS TO OFFER $40 MILLION SENIOR UNSECURED NOTES DUE 2026 Source text for Eikon: Further company coverage:
Bonanza Creek Energy Inc (BCEI): * BONANZA CREEK ENERGY, INC. ANNOUNCES OFFERING OF $400 MILLION OF NEW SENIOR NOTES. * Bonanza Creek Energy Inc (BCEI) - INTENDS TO OFFER $400 MILLION OF SENIOR UNSECURED NOTES DUE 2026 Source text for Eikon: Further company coverage:
Amerco (UHAL): * AMERCO ANNOUNCES $600 MILLION PRIVATE PLACEMENT OF SENIOR UNSECURED NOTES. * AMERCO ANNOUNCES $600 MILLION PRIVATE PLACEMENT OF SENIOR UNSECURED NOTES Source text for Eikon: Further company coverage:
China's property sector woes intensified on Monday as Fitch slashed Fantasia Holdings' credit rating by four notches, after reports the firm had missed a payment last week on a previously undisclosed bond.
Thor Industries Inc (THO): * THOR INDUSTRIES ANNOUNCES OFFERING OF $400 MILLION OF SENIOR UNSECURED NOTES DUE 2029. * THOR INDUSTRIES (THO) - INTENDS TO USE NET PROCEEDS FROM OFFERING TO REPAY A PORTION OF BORROWINGS OUTSTANDING ON ITS ASSET BASED REVOLVING CREDIT FACILITY Source text for Eikon: Further company coverage:
Rating agency Fitch slashed Chinese property firm Fantasia Holdings Group Co.'s credit rating by four notches on Monday and warned it was at risk of default, after reports the firm had missed a payment on a bond that it had not disclosed.
- S&P Global Ratings on Thursday warned of "severe and extraordinary" consequences for financial markets if the United States defaults on its debt, although it added it expects the U.S. Congress will ultimately address the debt ceiling in a timely manner.
The debt situation for poor countries could worsen due to volatile commodity prices and higher interest rates, World Bank President David Malpass said on Thursday, urging countries to begin a gradual fiscal consolidation to maintain investor confidence.
Moody's (MCO) assigned the United Arab Emirates a provisional Aa2 rating on Thursday for its new global medium-term note programme, which will allow the federation to raise debt as a whole for the first time. The rating is in line with the long-term issuer rating of the UAE, a federation of seven emirates, some of which have borrowed individually previously.
Blue Owl Capital Inc (OWL): * BLUE OWL CAPITAL ANNOUNCES SENIOR NOTES OFFERING. * Blue Owl Capital Inc (OWL) - UNIT INTENDS TO OFFER 30 YEAR SENIOR UNSECURED NOTES Source text for Eikon: Further company coverage:
China Evergrande Group (EGRNF) missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt obligation in a week, although the cash-strapped company on Thursday made a partial payment to some of its onshore investors.
Some of China Evergrande Group's (EGRNF) offshore bondholders have not received interest payment due by the end of Wednesday New York time, two people familiar with the matter told Reuters, with the company missing its second debt obligation this month. The cash-strapped company was due on Wednesday to make a $47.5 million bond interest payment on its 9.5% March 2024 dollar bond.
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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