ION Geophysical Corp (IO): * ION SECURES REQUISITE BACKSTOP SUPPORT FOR RIGHTS OFFERING, ANOTHER KEY BOND RESTRUCTURING MILESTONE. * ION Geophysical Corp (IO) - HAS SECURED MORE THAN $20 MILLION IN BACKSTOP SUPPORT FOR ITS RIGHTS OFFERING Source text for Eikon: Further company coverage:
Mexican state oil company Petroleos Mexicanos said on Tuesday that it has ended a contract with credit ratings agency Fitch Ratings, less than a week after it posted a 2020 fourth quarter result that underwhelmed investors. Fitch was the first of the big three agencies to downgrade Pemex bonds to speculative grade, or junk.
Mexican state oil company Petroleos Mexicanos said on Tuesday that it has ended a contract with credit ratings agency Fitch Ratings, less than a week after it posted a 2020 fourth quarter result that underwhelmed investors. Fitch was the first of the big three agencies to downgrade Pemex bonds to speculative grade, or junk.
Boston Properties Inc (BXP): * BOSTON PROPERTIES PRICES $850.0 MILLION OFFERING OF GREEN BONDS AND ANNOUNCES REDEMPTION OF 5.25% SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK. * BOSTON PROPERTIES (BXP) - OPERATING PARTNERSHIP AGREED TO ISSUE $850.0 MILLION OF 2.550% SENIOR UNSECURED NOTES DUE 2032 IN UNDERWRITTEN PUBLIC OFFERING.
Abu Dhabi state fund Mubadala has hired banks to arrange a planned dual-tranche issue of euro-denominated bonds, a document seen by Reuters showed. Citi and JPMorgan (JPM) were hired as global coordinators, with Abu Dhabi Commercial Bank, BNP Paribas, First Abu Dhabi Bank, ING, Morgan Stanley (MS) and Standard Chartered (SCBFF) as joint bookrunners, the document from one of the banks showed.
Preliminary bond prospectus for Mamoura diversified global holding, subsidiary of Abu Dhabi state fund Mubadala investment company that issues its debt: * MDGH had 388.7 billion dirhams in total assets as of end-june 2020. * MDGH had 179.38 billion dirhams in total liabilities as of end-june 2020.
Abu Dhabi state fund Mubadala has hired banks to arrange a planned dual-tranche issue of euro-denominated bonds, a document showed on Tuesday. Citi and JPMorgan (JPM) were hired as global coordinators, with Abu Dhabi Commercial Bank, BNP Paribas, First Abu Dhabi Bank, ING, Morgan Stanley (MS) and Standard Chartered (SCBFF) as joint bookrunners, the document from one of the banks showed.
The Arab Petroleum Investments Corporation has hired banks to arrange a reopening of its existing bonds maturing in February 2026, a document from one of the banks showed on Tuesday. BofA Securities, China Construction Bank, Citi, Emirates NBD Capital, Maybank, Nomura and Standard Chartered (SCBFF) will arrange fixed-income investor calls starting on Tuesday.
ACCO Brands Corp (ACCO): * ACCO BRANDS CORPORATION PRICES PRIVATE OFFERING OF $575 MILLION OF SENIOR UNSECURED NOTES. * ACCO Brands Corp (ACCO) - PRICED A PRIVATE OFFERING OF $575 MILLION OF 4.25% SENIOR UNSECURED NOTES DUE 2029. * ACCO Brands Corp (ACCO) - PRICE TO INVESTORS WILL BE 100% OF AGGREGATE PRINCIPAL AMOUNT OF NOTES.
National Retail Properties Inc (NNN): * NATIONAL RETAIL PROPERTIES, INC. PRICES OFFERING OF $450,000,000 OF 3.500% SENIOR UNSECURED NOTES DUE 2051 Source text for Eikon: Further company coverage:
Superior Plus Corp (SUUIF): * SUPERIOR PLUS ANNOUNCES PRICING OF UPSIZED OFFERING OF US$600 MILLION OF 4.500% SENIOR UNSECURED NOTES. * Superior Plus Corp (SUUIF) - PRICING OFFERING BY ITS UNITS OF US$600 MILLION SENIOR UNSECURED NOTES DUE MARCH 15, 2029.
Compass Diversified Holdings (CODI): * COMPASS DIVERSIFIED ANNOUNCES PROPOSED PRIVATE OFFERING OF $750 MILLION OF SENIOR UNSECURED NOTES DUE 2029. * COMPASS DIVERSIFIED (CODI)- TO USE PROCEEDS OF NOTES OFFERING TO REPAY DEBT UNDER EXISTING CREDIT FACILITIES, TO REDEEM 8.000% SENIOR NOTES DUE 2026.
Keurig Dr Pepper Inc (KDP): * KEURIG DR PEPPER ANNOUNCES STRATEGIC REFINANCING. * Keurig Dr Pepper Inc (KDP) - COMMENCES A PUBLIC OFFERING OF SENIOR NOTES AND NEW 364-DAY REVOLVING CREDIT FACILITY. * Keurig Dr Pepper Inc (KDP) - INTENDS TO USE NET PROCEEDS FROM SALE OF NOTES TO FUND REDEMPTION OF CERTAIN OUTSTANDING SENIOR UNSECURED NOTES.
ACCO Brands Corp (ACCO): * ACCO BRANDS CORPORATION ANNOUNCES PRIVATE OFFERING OF $650 MILLION OF SENIOR UNSECURED NOTES. * ACCO BRANDS (ACCO) - ANNOUNCED A PRIVATE OFFERING OF $650 MILLION OF SENIOR UNSECURED NOTES DUE 2029 Source text for Eikon: Further company coverage:
Superior Plus Corp (SUUIF): * SUPERIOR PLUS ANNOUNCES OFFERING OF SENIOR UNSECURED NOTES AND CONDITIONAL REDEMPTION OF 7.0% NOTES. * Superior Plus Corp (SUUIF) - CO'S UNITS PLAN TO COMMENCE PRIVATE PLACEMENT OFFERING OF US$500 MILLION OF SENIOR UNSECURED NOTES DUE 2029.
* Ardagh Metal Packaging raises $2.8 billion-equivalent. * Issues largest junk green bond to date. * Immediate proceeds form part of spin-off. By Yoruk Bahceli. Ardagh Metal Packaging sold $2.8 billion worth of green bonds on Friday, the biggest green issuance in the high-yield market to date, as a part of its plan to merge with a blank-check firm backed by billionaire Alec Gores.
S&P said on Friday it had raised the credit-rating outlook of German lender Deutsche Bank to positive from negative, a vote of confidence as the bank undergoes a major overhaul. S&P's move follows rosier outlooks from rating agency counterparts Moody's and Fitch over recent months, and it was announced along with a review of ratings of several major European banks.
Ardagh Metal Packaging sold $2.8 billion worth of green bonds on Friday, the biggest green issuance in the high-yield market to date, as a part of its plan to merge with a blank-check firm backed by billionaire Alec Gores. Sub-investment-grade firms rarely issue green bonds, which fund environmentally-friendly projects.
* Ardagh Metal Packaging to raise $2.8 bln-equivalent. * To issue largest junk green bond to date. * Immediate proceeds form part of spin-off. By Yoruk Bahceli. Ardagh Metal Packaging will sell green bonds worth about $2.8 billion on Friday, the biggest green issuance in the high-yield market to date, as a part of its plan to merge with a blank-check firm backed by billionaire Alec Gores.
Brazil's shake up of state-run oil firm Petrobras has caused shockwaves at home but may also prompt some bond investors to rethink their $1 trillion-plus exposure to other government-controlled companies across emerging markets.
Four Corners Property Trust Inc (FCPT): * FCPT PRICES $100 MILLION PRIVATE PLACEMENT OF SENIOR UNSECURED NOTES. * Four Corners Property Trust Inc (FCPT) - ENTERED INTO AGREEMENTS TO ISSUE $100 MILLION OF SENIOR UNSECURED NOTES.
Equinix Inc (EQIX): * Equinix Inc (EQIX) - PRICED EUR 1.1 BILLION OF NOTES ACROSS TWO TRANCHES IN ITS SECOND GREEN BOND OFFERING Source text for Eikon: Further company coverage:
Hillenbrand Inc (HI): * ANNOUNCES COMMENCEMENT AND PRICING OF $350 MILLION SENIOR NOTES OFFERING. * PRICING OF ITS PUBLIC OFFERING OF $350 MILLION AGGREGATE PRINCIPAL AMOUNT OF 3.7500% SENIOR UNSECURED NOTES DUE 2031 Source text for Eikon: Further company coverage:
Ardagh Group SA (ARD): * ARDAGH GROUP SAYS LAUNCH OF $2.65 BILLION GREEN BOND OFFERING. * ARDAGH GROUP (ARD)- ARDAGH METAL PACKAGING HAS THROUGH SUBSIDIARIES LAUNCHED A BOND FINANCING OF APPROXIMATELY $2.65 BILLION EQUIVALENT Source text for Eikon: Further company coverage:
TopBuild Corp (BLD): * TOPBUILD COMMENCES SENIOR NOTES OFFERING. * TopBuild Corp (BLD) - COMMENCING PRIVATE OFFERING OF $400 MILLION SENIOR UNSECURED NOTES DUE 2029. * TOPBUILD (BLD) - TO USE NET PROCEEDS FROM OFFERING, TOGETHER WITH CASH TO REDEEM EXISTING $400 MILLION 5.625% SENIOR UNSECURED NOTES DUE 2026 Source text for Eikon: Further company coverage:
EasyJet (EJTTF) will raise between 1 and 1.2 billion euros from its seven-year bond sale later on Wednesday, according to a lead manager memo seen by Reuters. The deal has received initial investor demand of 4.8 billion euros, according to the lead manager, helping the company cut the yield guidance to around 2.125%, from around 2.375% when the sale started earlier on Wednesday.
Credit ratings firm Moody's revised upwards on Wednesday its economic forecasts for the year for the United States and emerging markets, but cut Europe's following the region's tough COVID-19 lockdowns. Moody's pushed up its U.S. growth forecast to 4.7%, from the 4.2% it had expected in November.
Fears of credit rating downgrades will deter the world's poorest countries from taking advantage of debt relief being offered under the G20 common framework, World Bank chief economist Carmen Reinhart said. In November, the G20 group of major economies launched a framework designed to streamline a process to help countries defer or negotiate down their debt as part of a wider relief programme.
Britain's Easyjet (EJTTF) will hold investor calls on Tuesday ahead of a potential seven-year benchmark euro bond issue, according to an announcement seen by Reuters, as the airline seeks to boost its finances and ride out the pandemic.
Spirit Realty Capital Inc (SRC/PA): * SPIRIT REALTY CAPITAL PRICES $450 MILLION OF 2.100% SENIOR UNSECURED NOTES DUE 2028 AND $350 MILLION OF 2.700% SENIOR UNSECURED NOTES DUE 2032. * SPIRIT REALTY - PRICED A PUBLIC OFFERING OF $450 MILLION OF 2.100% SENIOR NOTES DUE 2028. * SPIRIT REALTY - PRICED $350 MILLION OF 2.700% SENIOR NOTES DUE 2032.
WP Carey Inc: * W. P. CAREY INC. ANNOUNCES PRICING OF ?525 MILLION OF GUARANTEED SENIOR UNSECURED NOTES. * WP CAREY INC - PRICED UNDERWRITTEN PUBLIC OFFERING OF EUR 525 MILLION 0.950% SENIOR NOTES DUE 2030.
* S&P SAYS IRAQ RATINGS AFFIRMED AT 'B-/B'; OUTLOOK STABLE. * S&P SAYS DEVALUATION OF IRAQI DINAR WILL HELP PRESERVE RESERVES & ALLEVIATE SHORT-TERM FISCAL PRESSURES, ALBEIT AT EXPENSE OF HIGHER INFLATION. * S&P SAYS IT EXPECTS IRAQ GOVERNMENT'S DOMESTIC FINANCING NEEDS TO BE LARGELY MET INDIRECTLY BY THE CENTRAL BANK.
Vista Outdoor Inc (VSTO): * VISTA OUTDOOR ANNOUNCES PRICING OF 4.500% SENIOR NOTES DUE 2029. * Vista Outdoor Inc (VSTO) - PRICED PRIVATE OFFERING OF $500 MILLION OF SENIOR NOTES DUE 2029, INCREASE OF $150 MILLION FROM PREVIOUSLY ANNOUNCED AMOUNT. * Vista Outdoor Inc (VSTO) - NOTES WILL BE ISSUED AT A PRICE EQUAL TO 100.0 PERCENT OF THEIR PRINCIPAL AMOUNT.
Geo Group Inc (GEO): * Geo Group Inc (GEO) - UNIT TO OFFER $200 MILLION AMOUNT OF EXCHANGEABLE SENIOR UNSECURED NOTES DUE 2026 IN A PRIVATE OFFERING. * Geo Group Inc (GEO) - INTENDS TO USE NET PROCEEDS TO FUND REPURCHASE, REDEMPTION OR OTHER DISCHARGE OF ITS 5.875% SENIOR UNSECURED NOTES DUE 2022 Source text for Eikon: Further company coverage:
Russian online retailer Ozon (OZON): * ANNOUNCES PRICING OF OFFERING OF US$750 MILLION IN SENIOR UNSECURED CONVERTIBLE BONDS. * SAYS IT WILL ISSUE BONDS AT 100% OF THEIR PRINCIPAL AMOUNT IN MINIMUM DENOMINATIONS OF US$ 200,000 EACH. * SAYS BONDS WILL CARRY A COUPON OF 1.875% PER ANNUM Source text - https://bit.ly/2Zolagz. Further company coverage:
- Global companies are raising vast amounts of money through convertible bonds this year, as soaring stock markets lift demand for these bonds which give investors the option to change into equity shares at a later date. Refinitiv data showed that companies have issued $19.7 billion worth of convertible bonds in the first seven weeks of 2021, the biggest in three years for comparable periods.
Russian online retailer Ozon (OZON): * ANNOUNCES PROPOSED OFFERING OF CONVERTIBLE BONDS. * ANNOUNCES LAUNCH OF AN OFFERING OF APPROXIMATELY US$ 650 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED CONVERTIBLE BONDS DUE 2026 Source text - https://bit.ly/37lUGAm Further company coverage:
Expedia Group Inc (EXPE): * EXPEDIA GROUP, INC. ANNOUNCES PRICING OF CONCURRENT PRIVATE OFFERINGS OF SENIOR NOTES AND CONVERTIBLE SENIOR NOTES. * PRICED ITS PRIVATE OFFERING OF $1 BILLION AGGREGATE PRINCIPAL AMOUNT OF UNSECURED 2.950% SENIOR NOTES DUE 2031. * ALSO PRICED ITS PRIVATE OFFERING OF $900 MILLION. * SENIOR NOTES WILL BE ISSUED AT A PRICE OF 99.081% OF AGGREGATE PRINCIPAL AMOUNT.
The U.S. Securities and Exchange Commission on Tuesday sued Morningstar Credit Ratings LLC for allegedly violating U.S. securities laws in its ratings of commercial mortgage-backed securities, the regulator said in a statement.
The U.S. Securities and Exchange Commission on Tuesday sued Morningstar Credit Ratings LLC for allegedly violating U.S. securities laws in its ratings of commercial mortgage-backed securities, the regulator said in a statement.
The U.S. Securities and Exchange Commission on Tuesday sued Morningstar Credit Ratings LLC for allegedly violating U.S. securities laws in its ratings of commercial mortgage-backed securities, the regulator said in a statement.
WP Carey Inc: * W. P. CAREY INC. ANNOUNCES PRICING OF $425 MILLION OF SENIOR UNSECURED NOTES. * WP CAREY INC - PRICED PUBLIC OFFERING OF $425 MILLION OF 2.250% SENIOR NOTES DUE 2033 Source text for Eikon: Further company coverage:
The U.S. Securities and Exchange Commission on Tuesday sued Morningstar Credit Ratings LLC for allegedly violating U.S. securities laws in its ratings of commercial mortgage-backed securities, the regulator said in a statement.
S&P : * S&P SAYS SWEDEN 'AAA/A-1+' RATINGS AFFIRMED; OUTLOOK STABLE. * S&P SAYS STABLE OUTLOOK REFLECTS VIEW THAT SWEDEN HAS PLENTY OF HEADROOM TO WITHSTAND ANY TEMPORARY ECONOMIC SHOCK Source text:
S&P Global Ratings on Thursday cut the credit ratings of top U.S. oil producers Exxon Mobil Corp (XOM), Chevron Corp (CVX) and ConocoPhillips (COP) by a notch, citing massive quarterly losses and the pressure to tackle climate change.
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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