Bed Bath & Beyond Inc (BBBY) is laying off about 1,300 employees at four locations in New Jersey, including at discount health and beauty chain Harmon, a Worker Adjustment and Retraining Notification notice showed on Friday.
Alliant Energy Corp (LNT): * WISCONSIN POWER AND LIGHT COMPANY PRICES PUBLIC OFFERING OF GREEN BONDS. * WISCONSIN POWER AND LIGHT COMPANY - $300 MILLION IN GREEN BONDS WILL BE DUE IN 2033. * WISCONSIN POWER AND LIGHT COMPANY - PRICING OF PUBLIC OFFERING OF $300 MILLION AGGREGATE PRINCIPAL AMOUNT OF 4.950% DEBENTURES Source text for Eikon: Further company coverage:
Pioneer Natural Resources Company (PXD) today announced that it has priced a public offering of $1.1 billion of 5.100% Senior Notes that will mature March 29, 2026, pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission.
$300 million in green bonds will be due in 2033 Wisconsin Power and Light Company, a wholly owned subsidiary of Alliant Energy Corporation (LNT), announced the pricing of its public offering of $300 million aggregate principal amount of 4.950% debentures.
NEW YORK, March 27, 2023 ?Inspired Entertainment, Inc. (INSE), a leading B2B provider of gaming content, systems and solutions, announced today that Fitch Ratings? has upgraded Inspired's corporate rating to 'B' from 'B-'.
FITCH: * FITCH AFFIRMS NEW YORK COMMUNITY AT 'BBB'; OUTLOOK STABLE. * FITCH - SIGNATURE BRIDGE BANK DEAL ADDS LIQUIDITY TO NYCB'S BALANCE SHEET, COULD ASSIST IT IN BECOMING MORE RELATIONSHIP DRIVEN, DEPOSIT FOCUSED. * FITCH - ULTIMATE ECONOMIC VALUE OF SIGNATURE BRIDGE BANK, N.A. TRANSACTION WILL BE DETERMINED BY NYCB'S ABILITY TO RETAIN TALENT AND DEPOSITS ACQUIRED.
Moody's has downgraded the long-term deposit ratings of mBank and changed the outlook to negative from "under review" citing risks stemming from the legacy of Swiss franc loans at Polish lenders, the agency said. Moody's has downgraded the long-term issuer ratings of the bank's mortgage unit mBank Hipoteczny and changed the outlook to negative from "under review".
Fitch : * FITCH RATINGS: CREDIT SUISSE AT1 WIPEOUT NOT A TEMPLATE FOR EU, UK INSURERS' RT1. * FITCH - SWISS AUTHORITIES' DECISION TO FULLY WRITE DOWN CS' AT1 NOTES DOESN'T IMPLY EU, UK AUTHORITIES WILL TREAT INSURERS' RT1 INSTRUMENTS SAME WAY.
AM Best has removed from under review with negative implications and downgraded the Long-Term Issuer Credit Rating to ?bb? from ?bb+? and affirmed the Financial Strength Rating of B of Universal Insurance Company Limited.
Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS.
Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS.
The cost of insuring against the likelihood of default by European banks rose sharply on Friday, as concern about the outlook for the sector continued to grip markets, almost a week on from the collapse of Credit Suisse. Deutsche Bank's five-year credit default swaps jumped 19 basis points from Thursday's close to 222 bps, data from S&P Global Market Intelligence showed.
Banking stocks fell sharply in Europe on Friday with heavyweights Deutsche Bank and UBS Group pummelled by worries that the worst problems in the sector since the 2008 financial crisis have not yet been contained. Deutsche Bank fell for a third day, sinking more than 11% after a sharp jump in the cost of insuring the German giant's bonds against the risk of default.
Telus Corp (TU): * TELUS CORP SAYS PRICED $500 MILLION OF SENIOR UNSECURED NOTES WITH A 10-YEAR MATURITY. * TELUS (TU) - 4.95% SUSTAINABILITY-LINKED NOTES WERE PRICED AT $99.828 PER $100 PRINCIPAL AMOUNT FOR AN EFFECTIVE YIELD OF 4.972% PER ANNUM UNTIL MATURITY Source text for Eikon: Further company coverage:
TELUS (TU) announced today it has priced $500 million of senior unsecured notes with a 10-year maturity. The 4.95% Sustainability-Linked notes, Series CAJ, were priced at $99.828 per $100 principal amount for an effective yield of 4.972% per annum until maturity, subject to a possible interest rate step-up, and will mature on March 28, 2033.
First Republic Bank (FRC): * MOODY'S PLACES FIRST REPUBLIC BANK'S SERVICER QUALITY ASSESSMENT ON REVIEW FOR DOWNGRADE Source text for Eikon: Further company coverage:
First Republic Bank (FRC): * MOODY'S DOWNGRADES FIRST REPUBLIC BANK'S ORIGINATOR ASSESSMENT AND PLACES ASSESSMENT ON REVIEW FOR DOWNGRADE. * MOODY'S -DOWNGRADED FIRST REPUBLIC'S ORIGINATOR ASSESSMENT FROM STRONG TO ABOVE AVERAGE, PLACED ASSESSMENT ON REVIEW FOR POSSIBLE FURTHER DOWNGRADE Source text for Eikon: Further company coverage:
S&P Global Ratings: * CREDIT SUISSE GROUP'S ADDITIONAL TIER 1 HYBRID RATINGS LOWERED TO 'D' FROM 'C' ON WRITE-DOWN; RATINGS THEN WITHDRAWN Source text: Further company coverage:
Moody's : * MOODY'S TAKES ACTION ON LOC-BACKED VARIABLE RATE DEMAND BONDS SUPPORTED BY COMERICA BANK. * MOODY'S ON COMERICA SAYS PLACED THE A1 LONG-TERM RATINGS OF CERTAIN BONDS ON REVIEW FOR DOWNGRADE Source text for Eikon: Further company coverage:
Credit Suisse bondholders are seeking legal advice after the Swiss regulator ordered 16 billion Swiss francs of Additional Tier-1 debt to be wiped out under its rescue takeover by UBS. These higher-yielding junior bonds emerged from the 2008-2009 crisis as a way to boost bank capital while shifting the risk of losses to investors and away from taxpayers.
Credit Suisse bondholders are seeking legal advice after the Swiss regulator ordered 16 billion Swiss francs of Additional Tier-1 debt to be wiped out under its rescue takeover by UBS. These higher-yielding junior bonds emerged from the 2008-2009 crisis as a way to boost bank capital while shifting the risk of losses to investors and away from taxpayers.
Crew Energy Inc (CWEGF): * CREW ENERGY ANNOUNCES EARLY REDEMPTION OF REMAINING OUTSTANDING 6.5% SENIOR UNSECURED NOTES DUE 2024. * CREW ENERGY ANNOUNCES EARLY REDEMPTION OF REMAINING OUTSTANDING 6.5% SENIOR UNSECURED NOTES DUE 2024 Source text for Eikon: Further company coverage:
American International Group Inc (AIG) : * AIG - LAUNCHED AN OFFERING TARGETING ISSUANCE OF A MINIMUM OF $500 MILLION IN SENIOR UNSECURED BONDS. * AIG: NET PROCEEDS OF OFFERING WILL BE USED FOR GENERAL CORPORATE PURPOSES, INCLUDING REPURCHASE OF AIG COMMON STOCK AND RETIREMENT OF AIG DEBT.
The Bank of England on Thursday followed the Federal Reserve and the Swiss National Bank in pressing on with interest rate hikes, arguing the UK banking sector was strong enough to withstand the instability that rippled through markets this month.
Credit Suisse Group AG: * FITCH PLACES SWISSCARD AECS GMBH ON RATING WATCH NEGATIVE FOLLOWING CREDIT SUISSE RATING ACTION. * FITCH - DOWNGRADED SWISSCARD'S SHAREHOLDER SUPPORT RATING TO 'BB-' FROM 'BBB' AND PLACED IT ON RATING WATCH EVOLVING.
Adani Ports and Special Economic Zone Ltd: * FITCH AFFIRMS ADANI PORTS AT 'BBB-'; OUTLOOK STABLE. * FITCH - AFFIRMATION REFLECTS VIEW THAT HINDENBURG REPORT ALLEGING GOVERNANCE ISSUES AT ADANI GROUP HAS LIMITED NEAR-TERM IMPACT ON APSEZ'S COST OF FUNDING.
?. Central Nottinghamshire Hospitals PLC. GBP 351,900,000 1.8768 per cent. Guaranteed Secured Bonds due 2042. ISSUE NAME. Our Ref. ISIN Code. INTEREST AMT PER DENOM. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 50,000.00 IS GBP 568.88. POOL FACTOR.
Switzerland's financial market regulator FINMA defended its decision to impose steep losses on some of Credit Suisse bondholders on Thursday, saying the decision was legally watertight. On Sunday, Switzerland announced a multi-billion franc rescue of Credit Suisse, which will see it taken over by UBS.
Switzerland's financial market regulator FINMA defended its decision to impose steep losses on some of Credit Suisse bondholders on Thursday, saying the decision was legally watertight. On Sunday, Switzerland announced a multi-billion franc rescue of Credit Suisse, which will see it taken over by UBS.
Warning in compliance with AMF Recommendation of 14 February 2023: This press release notably refers to a financing Poxel has set up in the form of bonds redeemable for new or existing shares with IRIS, which, after receiving the shares resulting from the redemption of those instruments, is not expected to remain a shareholder of the Company.
First Republic Bank (FRC): * FITCH DOWNGRADES FIRST REPUBLIC'S IDR TO 'B'; MAINTAINS RATING WATCH NEGATIVE Source text for Eikon: Further company coverage:
The dollar slid on
Wednesday after the U.S. Federal Reserve raised its key rate by
a quarter of a percentage point, as widely expected, and pointed
to just one more rate hike this year.
The Fed ...
AM Best has removed from under review with negative implications and downgraded the Long-Term Issuer Credit Rating to ?bb? from ?bb+? and affirmed the Financial Strength Rating of B of Brightsideco Insurance Limited.
The dollar was lower on Wednesday following the U.S. Federal
Reserve's decision to raise interest rates by a quarter of a percentage point as expected.
The Fed projected at least an ...
The dollar edged
up but hovered around five-week lows on Wednesday, before the
conclusion of the Federal Reserve's policy meeting at which
investors will be looking for any insight into what ...
BioPower Operations Corporation (BOPO) today announced the launch of its structured finance division and its ESG project consultancy division. 1) Structured Finance/Bond Market: Capital supplied by the U.S. bond market, with deal sizes typically in the range of $100 million to over $1 billion.
The dollar hovered around five-week lows on Wednesday, before the conclusion of the Federal Reserve's policy meeting at which investors will be looking for any insight on what might happen with interest rates given the turmoil in the banking sector.
The dollar held around five-week lows on Wednesday, before the conclusion of the Federal Reserve's policy meeting at which investors will be looking for any insight on what might happen with interest rates given the turmoil in the banking sector.
* DBRS MORNINGSTAR PLACES UBS AG'S AA RATINGS UNDER REVIEW WITH NEGATIVE IMPLICATIONS FOLLOWING THE ANNOUNCEMENT OF CREDIT SUISSE ACQUISITION. * DBRS MORNINGSTAR - UNDER REVIEW WITH NEGATIVE IMPLICATIONS FOR UBS CONSIDERS IT REMAINS DIFFICULT TO ASSESS FULL CAPITAL, & FINANCIAL, IMPACT OF DEAL.
- UBS Group said on Wednesday it would buy back 2.75 billion euros worth of debt it sold just days ago in a bid to boost confidence among bondholders rattled by its $3 billion rescue of rival Credit Suisse.
Distressed debt investors and large hedge funds are buying up Credit Suisse additional tier-1 bonds at rock-bottom prices after they were written down to zero in the Swiss bank's rescue by cross-town rival UBS.
Asian lenders may find it difficult to replenish their capital by issuing Additional Tier-1 bonds, Citigroup said in a research note on Wednesday, after the Swiss authorities' move to wipe out Credit Suisse bonds as part of its takeover deal.
SALT LAKE CITY, March 21, 2023 Extra Space Storage Inc. (EXR), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, today announced that its operating partnership, Extra Space Storage LP, has priced a public offering of $500 million aggregate principal amount of 5.700% senior notes due 2028.
* S&P - U.S. STRUCTURED FINANCE APPEARS TO HAVE MINIMAL EXPOSURE TO RECENT RATING ACTIONS ON FIRST REPUBLIC BANK. * S&P SAYS THUS FAR, THERE IS KNOWN EXPOSURE TO FRB IN RESIDENTIAL MORTGAGE-BACK SECURITIES AND VARIABLE-RATE DEBT OBLIGATIONS.
Distressed debt investors and large hedge funds are buying up Credit Suisse additional tier-1 bonds at rock-bottom prices after they were written down to zero in the Swiss bank's rescue by cross-town rival UBS.
-Law firm Pallas Partners and a Swiss counsel are working on possible legal action for some Credit Suisse bond investors whose holdings were wiped out following the bank's takeover by UBS Group AG, Pallas Partners said.
* Europe bank Additional Tier 1 bonds up. * Europe bank shares up 3.6%, set for biggest gain since Oct. * Cost of insuring banks against debt default falls.
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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