* REPUBLIC OF PERU FILES PROSPECTUS SUPPLEMENT RELATED TO POTENTIAL THREE-PART USD-DENOMINATED GLOBAL BONDS OFFERING; SIZE NOT DISCLOSED - SEC FILING Source text for Eikon: Further company coverage: [ ]
Carnival PLC (CUK): * CARNIVAL - PRICED PRIVATE OFFERINGS OF $1,450 MILLION AGGREGATE PRINCIPAL AMOUNT OF 7.625% SENIOR UNSECURED NOTES DUE 2026. * CARNIVAL - PRICED EUR 500 MILLION AGGREGATE PRINCIPAL AMOUNT OF 7.625% SENIOR UNSECURED NOTES DUE 2026.
Cellcom Israel Ltd (CEL): * CELLCOM ISRAEL ANNOUNCES PREPARATION FOR PRIVATE DEBT OFFERING IN ISRAEL. * CELLCOM ISRAEL (CEL) - BOARD INSTRUCTED CO TO PREPARE FOR A POTENTIAL PRIVATE OFFERING OF ADDITIONAL DEBENTURES FROM COMPANY'S EXISTING SERIES L DEBENTURES. * EXECUTION, TIMING, TERMS AND AMOUNT OF SUCH CONTEMPLATED OFFERING HAVE NOT YET BEEN DETERMINED.
South Africa's finance ministry said on Saturday the ratings downgrade by Moody's and Fitch will increase the country's borrowing costs and constrain its fiscal framework. "The decision by Fitch and Moody's... is a painful one," Tito Mboweni, Minister of Finance, said in a statement.
* S&P SAYS SOUTH AFRICA LONG-TERM FOREIGN AND LOCAL CURRENCY RATINGS AFFIRMED; OUTLOOK STABLE. * S&P ON SOUTH AFRICA SAYS EXPECT RETURN TO POSITIVE ANNUAL ECONOMIC GROWTH ALONGSIDE SLOW FISCAL CONSOLIDATION IN 2021-2023 Source :
Carnival Corp (CCL): * CARNIVAL CORPORATION (CCL) & PLC ANNOUNCES UPSIZING AND PRICING OF $1,450 MILLION AND ?500 MILLION SENIOR UNSECURED NOTES DUE 2026. * Carnival Corp (CCL) - PRICED PRIVATE OFFERING OF $1,450 MILLION OF 7.625% SENIOR UNSECURED NOTES DUE 2026. * Carnival Corp (CCL) - PRICED PRIVATE OFFERING OF EUR 500 MILLION OF 7.625% SENIOR UNSECURED NOTES DUE 2026.
S&P: * S&P SAYS GUATEMALA 'BB-' LONG-TERM FOREIGN CURRENCY RATING PLACED ON CREDITWATCH NEGATIVE FOLLOWING DISPUTE ON BOND PAYMENT. * S&P SAYS IT RATES GUATEMALA'S FOREIGN CURRENCY LONG TERM AT BB- AND SHORT TERM AT B; OUTLOOK WATCH NEGATIVE. * S&P SAYS IT RATES GUATEMALA'S LOCAL CURRENCY LONG TERM AT BB AND SHORT TERM AT B; OUTLOOK WATCH NEGATIVE.
Louis Dreyfus Company issued a 600 million euro five-year bond on Friday, the agricultural commodity group said in a statement. The group said the issue, which drew orders of over 3.3 billion euros and is expected to close on Nov. 27, was helped by a first public credit rating for LDC from S&P Global last week, which followed an agreement to sell a 45% stake to Abu Dhabi investment company ADQ.
Carnival Corp (CCL) is seeking to borrow $1.6 billion in a bond offering that is not backed by its cruise ships, the Financial Times reported https://www.ft.com/content/01a84753-b33e-493c-83e9-4100c62409c4 on Thursday. The cruise ships operator will sell the debt in U.S. and European junk bond markets, the report said, citing a term sheet.
Fitch: * FITCH RATES SAUDI ARAMCO'S GMTN NOTES 'A' * FITCH HAS ASSIGNED SAUDI ARABIAN OIL COMPANY'S $8 BILLION MULTI-TRANCHE NOTES ISSUANCE A FINAL SENIOR UNSECURED RATING OF 'A' Source text for Eikon:
Tepid growth in Germany, France, Italy and Spain, even with fiscal stimulus, will prevent debt levels in the four biggest euro zone economies returning to pre-COVID-19 crisis levels for the foreseeable future, credit rating agency Scope said.
NRG Energy Inc (NRG): * NRG ENERGY, INC. ANNOUNCES PRICING OF $1.40 BILLION OF SENIOR SECURED FIRST LIEN NOTES, $1.53 BILLION OF SENIOR UNSECURED NOTES AND $900 MILLION OF PRE-CAPITALIZED TRUST SECURITIES Source text for Eikon: Further company coverage:
American Tower Corp: * AMERICAN TOWER CORPORATION PRICES SENIOR NOTES OFFERING. * AMERICAN TOWER - PRICING OF OFFERING OF SENIOR UNSECURED NOTES DUE 2024, 2028 & 2051 IN AMOUNTS OF $500.0 MILLION, $650.0 MILLION & $550.0 MILLION. * AMERICAN TOWER - 2024 NOTES WILL HAVE INTEREST RATE OF 0.600% PER ANNUM, BEING ISSUED AT PRICE EQUAL TO 99.825% OF THEIR FACE VALUE.
Service Properties Trust (SVC): * SERVICE PROPERTIES TRUST PRICES $450 MILLION OF SENIOR UNSECURED NOTES. * Service Properties Trust (SVC) - PRICED UNDERWRITTEN PUBLIC OFFERING OF $450 MILLION OF 5.50% UNSECURED SENIOR NOTES DUE 2027 Source text for Eikon: Further company coverage:
* MOODY'S, ON GERMANY, SAYS NEW RESTRICTIONS WEIGH ON NEAR-TERM ECONOMIC OUTLOOK, BUT IMPACT ON FISCAL METRICS IS LIMITED. * MOODY'S SAYS ALTHOUGH RESTRICTIONS WILL SLOW GERMANY?S RECOVERY, ECONOMIC IMPACT LIKELY TO BE LESS SEVERE THAN IN SPRING & COMPARED TO EUROPEAN PEERS Source text: https://bit.ly/2IK8M5a.
Pinduoduo Inc (PDD): * PINDUODUO ANNOUNCES PROPOSED OFFERING OF CONVERTIBLE SENIOR NOTES AND PROPOSED OFFERING OF AMERICAN DEPOSITARY SHARES. * Pinduoduo Inc (PDD) - UNDERWRITTEN PUBLIC OFFERING BY CO OF ITS CONVERTIBLE SENIOR NOTES DUE 2025. * Pinduoduo Inc (PDD) - PROPOSES TO OFFER US$1,750 MILLION OF CONVERTIBLE NOTES Source text for Eikon: Further company coverage:
Mexico's government on Monday launched an international transaction for debt refinancing, and achieved one of the lowest interest rates in the market, Deputy Finance Minister Gabriel Yorio said on Twitter. The offering was for bonds denominated in U.S. dollars due in 2031, and in 2061, according to a statement from Mexico's government.
VEON Ltd: * VEON ANNOUNCES LAUNCH OF A USD DRAWDOWN UNDER GMTN PROGRAMME AND PUBLISHES THIRD BASE OFFERING MEMORANDUM SUPPLEMENT. * ANNOUNCES A DRAWDOWN OF 7-YEAR SENIOR UNSECURED NOTES DENOMINATED IN U.S. DOLLARS.
Saudi Aramco this year extended the maturity of two revolving credit facilities it took in 2015, meaning those loans worth a total of $8 billion will be available through March 2022, a bond prospectus showed. Aramco said on Monday it plans to issue multi-tranche U.S. dollar-denominated bonds, as the world's largest oil company seeks to raise cash amid weak global oil demand and lower oil prices.
* Gulf debt issues surge amid weak oil prices. * Aramco raised $12 billion with issue last year. * Oil firm needs cash for dividends and to buy SABIC. By Davide Barbuscia and Yousef Saba. Saudi Aramco said on Monday it had hired banks for a multi-tranche U.S. dollar-denominated bond issuance, as the world's largest oil company seeks cash amid lower oil prices.
Saudi Aramco said on Monday it had hired banks for a multi-tranche U.S. dollar-denominated bond issuance, as the world's largest oil company seeks cash amid lower oil prices. Gulf issuers show no sign of slowing this year's blitz of issues on international debt markets as they work to plug finances hit by weaker oil prices and the coronavirus crisis.
SAUDI ARABIAN OIL CO: * ANNOUNCES THE START OF ISSUING INTERNATIONAL BONDS. * HE BONDS WILL BE SENIOR, U.S.$ DENOMINATED, UNSECURED BY ASSETS. * UNDERWRITER ARE CITI, GOLDMAN SACHS INTERNATIONAL, HSBC, J.P. MORGAN, MORGAN STANLEY AND NCB CAPITAL Source text for Eikon: Further company coverage:
SAUDI ARABIAN OIL CO: * ANNOUNCES ITS INTENTION TO ISSUE. * ANNOUNCES ITS INTENTION TO ISSUE INTERNATIONAL BONDS PURSUANT TO ITS GLOBAL MEDIUM TERM NOTE PROGRAMME. * bonds will be senior, U.S.$ denominated, unsecured by assets. * AMOUNT IS SUBJECT TO MARKET CONDITIONS.
Moody's: * MOODY'S SAYS OUTLOOK ON GLOBAL MIDSTREAM ENERGY INDUSTRY REVERTS TO STABLE AS E&P PRODUCTION STEADIES AFTER RECENT DECLINES. * MOODY'S SAYS CUTS IN OPERATING COSTS HAVE HELPED ENHANCE GLOBAL MIDSTREAM EBITDA AMID MODESTLY IMPROVED UPSTREAM BUSINESS CONDITIONS. * MOODY'S SAYS GLOBAL MIDSTREAM GROWTH CAPITAL SPENDING WILL DECLINE IN 2021, MAKING FUTURE EBITDA GROWTH MORE CHALLENGING.
A Chinese miner that defaulted this week held an emergency creditors' meeting on Friday to address potentially "huge credit risks", as a series of defaults by top-rated state-owned enterprises sent shockwaves through China's corporate bond market. Investors have traditionally seen bonds issued by state-owned firms as less risky due to their perceived government backing.
Chemours Co (CC): * CHEMOURS ANNOUNCES PRICING OF PRIVATE OFFERING OF $800 MILLION AGGREGATE PRINCIPAL AMOUNT OF 5.750% SENIOR UNSECURED NOTES DUE 2028 Source text for Eikon: Further company coverage:
S&P: * S&P RATES BAHAMAS' LONG TERM LOCAL CURRENCY 'BB-' AND LONG TERM FOREIGN CURRENCY 'BB-'; OUTLOOK NEGATIVE. * S&P SAYS THE COMMONWEALTH OF BAHAMAS RATINGS LOWERED TO ?BB-? FROM ?BB? ON WEAKER INSTITUTIONAL ASSESSMENT. * S&P SAYS BAHAMAS' FISCAL REFORM MEASURES HAVE EVOLVED SLOWLY, AND WE EXPECT THE PANDEMIC WILL HINDER MEANINGFUL PUBLIC FINANCE REFORM.
* MOODY'S SAYS U.S. P&C COMMERCIAL INSURANCE SECTOR OUTLOOK FOR 2021 REMAINS STABLE AMID RISING PRICING Source text for Eikon: Further company coverage: [ ]
Positive data on an experimental COVID-19 vaccine has improved the outlook for high-yield credit, especially for companies slammed by the coronavirus pandemic, said Dan Ivascyn, chief investment officer at bond giant Pacific Investment Management Co. Ivascyn also told Reuters in an interview that prospects for a split U.S. Congress after last week's election has dampened stimulus prospects, mak...
Virgin Atlantic's recapitalisation two months ago means the airline can survive even if the travel situation worsens, its chief executive told an online industry event on Wednesday. "The recapitalisation, with the support of our shareholders and new investors and everything that I've mentioned, should see us through, even under more strenuous positions," CEO Shai Weiss said.
* MOODY'S SAYS GLOBAL MONEY MARKET FUNDS OUTLOOK REMAINS NEGATIVE IN 2021 DUE TO ECONOMIC UNCERTAINTY, LIKELIHOOD OF MORE REGULATION Source text for Eikon:
Linamar Corp (LIMAF): * Q3 SALES C$1.637 BILLION VERSUS REFINITIV IBES ESTIMATE OF C$1.59 BILLION. * LINAMAR (LIMAF) - AUTHORIZED ENTERING NOTE PURCHASE AGREEMENT WITH CERTAIN INSTITUTIONAL INVESTORS FOR PRIVATE PLACEMENT OF EUR 320 MILLION OF NOTES. * LINAMAR (LIMAF) - PRIVATE PLACEMENT RELATES TO EUR 320 MILLION OF 1.37% SENIOR UNSECURED NOTES, DUE JANUARY 31, 2031.
Germany's Lufthansa on Tuesday launched an offering for around 525 million euros of senior unsecured convertible bonds due in 2025. The airline, which is reeling from the impact of the coronavirus pandemic on travel, said it would use the proceeds for general corporate purposes.
Ameren Corp (AEE): * AMEREN ILLINOIS ANNOUNCES PRICING OF FIRST MORTGAGE BONDS OFFERING DUE 2030. * AMEREN ILLINOIS COMPANY - PRICING OF PUBLIC OFFERING OF $375 MILLION OF 1.55% FIRST MORTGAGE BONDS DUE 2030 AT 99.577% OF PRINCIPAL AMOUNT. * AMEREN ILLINOIS - INTENDS TO USE NET PROCEEDS OF OFFERING TO REPAY PORTION OF SHORT-TERM DEBT Source text for Eikon: Further company coverage:
* BOND VETERINARY INC SAYS HAS RAISED $13.2 MILLION IN EQUITY FINANCING FROM TOTAL OFFERING AMOUNT OF $17.2 MILLION - SEC FILING Source text - https://bit.ly/3lqQ5Ss.
The riskiest U.S. corporate bonds reached their highest since March on Monday morning, moving in step with U.S. stock indexes, after Pfizer Inc (PFE) said its experimental COVID-19 vaccine was more than 90% effective. The iShares iBoxx High Yield Corporate Bond ETF - an exchange-traded fund which tracks the U.S. junk-bond market - rose to its highest since March 4 as Wall Street opened at record highs.
Axalta Coating Systems Ltd (AXTA): * AXALTA COMMENCES NOTES OFFERING AND ANNOUNCES EXPECTED CONDITIONAL FULL REDEMPTION OF 4.875% SENIOR NOTES DUE 2024 AND 4.250% SENIOR NOTES DUE 2024. * Axalta Coating Systems Ltd (AXTA) - ITS INDIRECT UNIT INTENDS TO OFFER $600.0 MILLION SENIOR UNSECURED NOTES Source text for Eikon: Further company coverage:
Allison Transmission Holdings Inc (ALSN) : * ALLISON TRANSMISSION ANNOUNCES $1 BILLION SENIOR NOTES OFFERING. * Allison Transmission Holdings Inc (ALSN) - UNIT COMMENCED OFFERING OF $1 BILLION OF SENIOR UNSECURED NOTES DUE 2031 IN A PRIVATE PLACEMENT Source text for Eikon: Further company coverage:
HighPoint Resources Corp (HPR): * BONANZA CREEK ANNOUNCES TRANSFORMATIVE AGREEMENT TO ACQUIRE RESTRUCTURED HIGHPOINT RESOURCES (HPR). * HighPoint Resources Corp (HPR) - TRANSACTION VALUED AT APPROXIMATELY $376 MILLION AS OF NOVEMBER 6. * HighPoint Resources Corp (HPR) - BONANZA CREEK WILL ISSUE 9.8 MILLION SHARES OF COMMON STOCK AND UP TO $100 MILLION IN SENIOR UNSECURED NOTES IN TRANSACTION.
Ratings agency Fitch on Monday revised its outlook on Saudi Arabia to negative from stable, citing weakening fiscal and external balance sheets, but maintained its core 'A' rating.
Boulder Growth & Income Fund (BIF): * Boulder Growth & Income Fund (BIF), INC. ANNOUNCES $225 MILLION ISSUANCE OF SENIOR UNSECURED NOTES Source text for Eikon: Further company coverage:
Antero Midstream Corp (AM): * ANTERO MIDSTREAM ANNOUNCES PRICING OF UPSIZED $550 MILLION OFFERING OF SENIOR NOTES. * ANTERO MIDSTREAM (AM)- PRICING OF PRIVATE PLACEMENT BY ANTERO MIDSTREAM PARTNERS LP OF $550 MILLION OF 7.875% SENIOR UNSECURED NOTES DUE 2026 AT PAR Source text for Eikon: Further company coverage:
Antero Midstream Corp (AM): * ANTERO MIDSTREAM ANNOUNCES LAUNCH OF $400 MILLION OFFERING OF SENIOR NOTES. * Antero Midstream Corp (AM) - UNIT INTENDS TO OFFER $400 MILLION SENIOR UNSECURED NOTES DUE 2026 Source text for Eikon: Further company coverage:
Barings BDC Inc (BBDC): * BARINGS BDC (BBDC) - ON NOV 4 ENTERED INTO NOTE PURCHASE AGREEMENT GOVERNING ISSUANCE OF $62.5 MILLION OF SERIES B SENIOR UNSECURED NOTES DUE NOV 4, 2025. * Barings BDC Inc (BBDC) - NOTE PURCHASE AGREEMENT ALSO GOVERNS ISSUANCE OF $112.5 MILLION OF SERIES C SENIOR UNSECURED NOTES Source text: [https://bit.ly/3jVCt05] Further company coverage:
Hercules Capital Inc (HTGC): * HERCULES CAPITAL ANNOUNCES AN INVESTMENT GRADE BOND OFFERING TOTALING $100.0 MILLION DUE 2026. * Hercules Capital Inc (HTGC) - COMPLETES $50.0 MILLION OF 4.50% NOTES DUE MARCH 2026. * Hercules Capital Inc (HTGC) - PRICES $50.0 MILLION OF 4.55% NOTES DUE MARCH 2026.
Investors made bullish bets on U.S. corporate bonds on Wednesday while the equity market rallied as results from the presidential election came in. President Donald Trump and his Democratic rival Joe Biden both still have possible paths to victory, but investors are currently betting on a Biden win, with the Republican party keeping a hold of the Senate, said Kevin Giddis, head of fixed income ...
Credit ratings agency DBRS Morningstar confirmed Italy's rating at BBB on Friday citing a resilient manufacturing sector and effective funding management, despite threat of a second wave of coronavirus cases. The agency maintained Italy's trend at negative.
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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