XPLR Infrastructure LP (XIFR): * XPLR INFRASTRUCTURE, LP ANNOUNCES THE PRICING OF $1,750 MILLION OF SENIOR UNSECURED NOTES, INCLUDING $825 MILLION OF 8.375% SENIOR UNSECURED NOTES DUE 2031 AND $925 MILLION OF 8.625% SENIOR UNSECURED NOTES DUE 2033 Source text: Further company coverage:
Outstanding government and corporate bonds globally exceeded $100 trillion last year, the OECD said on Thursday, with rising interest costs leaving borrowers facing tough choices and needing to prioritise productive investments. Between 2021 and 2024, interest costs as a share of output rose from the lowest to the highest in the last 20 years.
Insulet Corp (PODD): * INSULET ANNOUNCES PRICING OF SENIOR NOTES DUE 2033. * Insulet Corp (PODD) - PRICES $450 MILLION SENIOR UNSECURED NOTES DUE 2033 Source text: Further company coverage:
U.S. digital infrastructure company Equinix (EQIX) said on Tuesday that it has issued S$500 million in green bonds in its inaugural offering in the Singaporean market. The Nasdaq-listed company said in a statement it intended to allocate an amount equal to the net proceeds from the green bonds to recently completed or future eligible green projects.
Global ratings agency Moody's on Monday downgraded Volkswagen by one notch to Baa1 from A3, citing sector headwinds, structural challenges, ongoing need for investment and fierce competition in China.
Fitch Ratings has affirmed Poland's long-term foreign-currency issuer default rating at 'A-' with a stable outlook, the agency said late on Friday. The agency forecasts average inflation of 4.5% in 2025, and 3.7% in 2026, it said. Given the inflation outlook Fitch expects two 25 basis points interest rate cuts in the second half of 2025 and four 25 basis points cuts in 2026.
Alcoa Corp (AA): * Alcoa Corp (AA): CONSIDERATION FOR CASH TENDER OFFER FOR ANY AND ALL OUTSTANDING 5.500% SENIOR UNSECURED NOTES DUE 2027 Source text: Further company coverage: ;))
China-based data center operator VNET Group (VNET) on Thursday raised $430 million in convertible bonds for investing in the wholesale internet data center projects under the current booming artificial intelligence space. Under the offering, the initial conversion price of $13.75 per American depositary share represents a 25% premium to the stock's last close.
Fitch: * FITCH UPGRADES SPIRIT AIRLINES TO 'CCC+'; ASSIGNS EXIT NOTE RATING OF 'B-'/'RR3' * FITCH: EXPECTS SPIRIT'S LIQUIDITY TO REMAIN SUFFICIENT IN NEAR TERM. * FITCH: BELIEVES SPIRIT AIRLINES LEVERAGE WILL REMAIN CONSTRAINT ON RATING AT LEAST THROUGH 2026. * FITCH: SEES SPIRIT'S LIQUIDITY PRESSURE COULD ARISE BEYOND 2025 IF CO'S PROJECTED PROFIT IMPROVEMENTS FAIL TO MATERIALIZE.
- EquiLend, a fintech at the heart of securities lending on Wall Street, said on Thursday it has secured a minority investment from an affiliate of U.S. banking giant BNY. The securities lending industry enables investors to borrow and lend stocks, bonds and other assets to facilitate liquidity management and trading strategies.
EquiLend, a fintech at the heart of securities lending on Wall Street, said on Thursday it has secured a minority investment from an affiliate of U.S. banking giant BNY. The securities lending industry enables investors to borrow and lend stocks, bonds and other assets to facilitate liquidity management and trading strategies.
The European Union's plan to ramp up defence spending would lower the EU's rating headroom due to added debt, but would not by itself lead to a downgrade of the issuer's sought-after AAA credit rating, Fitch Ratings said on Thursday.
Farminveste SGPS SA: * SAID ON WEDNESDAY, APPROVES ADDENDUM TO PROSPECTUS OF ITS PUBLIC OFFER FOR BOND LOAN 2025-2029 OF UP TO 8 MILLION BONDS FOR UP TO 40 MILLION EUROS. * BOND LOAN THROUGH CASH SUBSCRIPTION OFFER AND TWO GENERAL EXCHANGE OFFERS OF BONDS CONVERTIBLE INTO CATEGORY B SHARES. * ADDENDUM ESTABLISHES ENDING PERIOD OF OFFERS ON MARCH 17 INSTEAD OF MARCH 14 PREVIOUSLY.
Falabella SA: * FALABELLA ANNOUNCES COMMENCEMENT OF CASH TENDER OFFER FOR ANY AND ALL OF ITS OUTSTANDING 3.750% NOTES DUE 2027 Further company coverage:
The yield spreads between corporate bonds and U.S. Treasuries widened late on Tuesday to their widest level since September, pointing to mounting investor worries about recession and a global trade war. U.S. investment-grade bond spreads hit 94 basis points on Tuesday, their widest level since Sept. 18, according to the ICE BofA Corporate Index.
Britain's FTSE 100 index is seen opening higher on Wednesday, with futures up 0.22%. * RIO TINTO: Rio Tinto will raise $9 billion in U.S. investment-grade bonds as it seeks to fund its recently-closed buyout of Arcadium Lithium, the miner said. * DRAX (DRXGF): British power group DRAX (DRXGF) said it has secured agreements to provide.
FITCH: * FITCH: SEES BOEING'S OPERATIONAL EXECUTION, PROFITABILITY IMPROVEMENT, BALANCE SHEET MANAGEMENT AS MAIN DRIVERS FOR ITS RATING OVER NEXT 2 YEARS. * FITCH: BELIEVES BOEING'S INITIAL POST-STRIKE OPERATIONAL PROGRESS PAVES WAY TO PRODUCE 38 UNITS PER MONTH IN 3Q25. * FITCH - MORE IMMINENT CHALLENGE FACED BY BOEING'S DEFENSE, SPACE & SECURITY SEGMENT IS ITS LOSS-MAKING LEGACY CONTRACTS.
Ardagh Metal Packaging SA (AMBP): * ARDAGH METAL PACKAGING (AMBP): ARDAGH GROUP IN NEGOTIATIONS WITH SOME SENIOR SECURED NOTES & SENIOR UNSECURED NOTES HOLDERS. * ARDAGH METAL PACKAGING (AMBP): AGSA PROPOSAL & SUN HOLDERS' COUNTERPROPOSAL INCLUDE POTENTIAL DIVESTMENT BY AGSA OF ITS AMPSA INTERESTS TONEW BIDCO Source text: Further company coverage:
The yield spread between junk-rated corporate bonds and U.S. Treasuries opened out late on Monday to its widest level since September, in a sign that overall investor confidence is deteriorating as worries about recession and a global trade war rise.
- Fitch Ratings has assigned a negative outlook to Indian energy infrastructure company Adani Energy Solutions Limited, citing concerns over corporate governance and potential risks from ongoing U.S. investigations.
* S&P: JORDAN RATINGS AFFIRMED AT 'BB-/B'; OUTLOOK STABLE. * HHS' CIVIL RIGHTS OFFICE INVESTIGATES ALLEGED DISCRIMINATION IN HEALTH CARE WORKFORCE AND TRAINING TO RESTORE MERIT-BASED OPPORTUNITY. * HHS: OCR OPENS INVESTIGATIONS INTO 4 MEDICAL SCHOOLS, HOSPITALS OVER RACE- OR SEX-BASED CRITERIA IN EDUCATION, TRAINING, AND SCHOLARSHIP PROGRAMS.
S&P Global Ratings said on Friday it had cut its long-term issuer credit ratings on Nissan Motor to 'BB'. It said that "prospects for a fast improvement in Nissan Motor's automotive business to levels comparable with similarly rated peers' are now remote".
Baidu Inc (BIDU): * ANNOUNCES PROPOSED OFFERING OF EXCHANGEABLE BONDS. * PROPOSES OFFERING OF UP TO $2 BILLION IN EXCHANGEABLE BONDS. * NET PROCEEDS TO BE USED FOR DEBT REPAYMENT, INTEREST, AND CORPORATE PURPOSES Further company coverage:
* FITCH: COLOMBIA'S REVISED OUTLOOK ON DETERIORATION IN FISCAL POSITION & UNCERTAIN PROSPECTS FOR CORRECTIVE MEASURES. * FITCH ON COLOMBIA: MOUNTING SPENDING PRESSURES, BUDGETARY RIGIDITIES TO MAKE FURTHER DEFICIT REDUCTION DIFFICULT BEYOND 2026 WITHOUT TAX REFORMS. * FITCH ON COLOMBIA: BELIEVES FISCAL RISKS ARE TILTED TO DOWNSIDE AS GOVERNMENT WILL CONTINUE TO STRUGGLE TO MEET FISCAL TARGETS.
- Global ratings agency S&P Global said on Thursday it has downgraded Stellantis (STLA) to "BBB" from "BBB+", citing weak margin prospects. S&P said it expects the price cuts implemented in North America and Europe late last year coupled with affordability concerns from buyers to limit the automaker's volume growth and margin expansion in those markets.
Global ratings agency S&P Global said on Thursday it has downgraded Stellantis (STLA) to "BBB" from "BBB+", citing weak margin prospects. S&P said it expects the price cuts implemented in North America and Europe late last year coupled with affordability concerns from buyers to limit the automaker's volume growth and margin expansion in those markets.
* Mars issues 8-part bond for Kellanova (K) acquisition. * Bond offering to raise $26 billion, bookrunners say. * Mars bond deal may more than double M&A bond issuance for 2025, IGM reports. By Shankar Ramakrishnan.
Baidu (BIDU) on Thursday priced its yuan-denominated offshore offering of senior unsecured notes at 10 billion yuan, which were offered to non-U.S. individuals in transactions conducted outside of the United States. The Chinese technology firm's offering comprises 7.5 billion yuan of 2.70% notes due in 2030, and 2.5 billion yuan of 3.00% notes due in 2035.
* Mars issues 8-part bond for Kellanova (K) acquisition. * Bond offering to raise $26 billion, bookrunners say. * Mars bond deal may double M&A bond issuance for 2025, IGM reports. By Shankar Ramakrishnan.
- Family-owned candy giant Mars announced a eight-part investment-grade bond offering on Wednesday to help finance its takeover of Pringles maker Kellanova (K), according to a terms sheet, in what is expected to be one of the largest acquisition financing deals this year.
* Mars issues 8-part bond for Kellanova (K) acquisition. * Bond offering could raise $25-$30 billion, bookrunners say. * Mars bond deal may double M&A bond issuance for 2023, IGM reports. By Shankar Ramakrishnan.
Forestar Group Inc (FOR): * FORESTAR ANNOUNCES PROPOSED OFFERING OF SENIOR UNSECURED NOTES. * Forestar Group Inc (FOR) - PROPOSES $500 MILLION SENIOR UNSECURED NOTES OFFERING DUE 2033. * Forestar Group Inc (FOR) - TO USE PROCEEDS TO FUND TENDER OFFER FOR $400 MILLION NOTES DUE 2026 Source text: Further company coverage:
Humana Inc (HUM): * HUMANA PRICES $1.25 BILLION DEBT OFFERING. * Humana Inc (HUM) - SENIOR NOTES INCLUDE $750 MILLION DUE 2035 AND $500 MILLION DUE 2055 Source text: Further company coverage:
Bookrunner: * BLOCK TRADE: FRESENIUS MEDICAL CARE EUR 1.1BN COMBINED OFFERING - BOOKS COVERED ON EQUITY OFFERING & EXCHANGEABLE BOND OFFERING - BOOKRUNNER. * BLOCK TRADE: FRESENIUS MEDICAL CARE EUR 1.1BN COMBINED OFFERING - EXCHANGEABLE BOND COVERED AT MID POINT OF MARKETING RANGE - BOOKRUNNER Further company coverage:
Aramark (ARMK): * Aramark (ARMK) - LAUNCHES EUR400 MILLION SENIOR UNSECURED NOTES DUE 2033. * Aramark (ARMK) - PROCEEDS TO REPAY EUR325 MILLION SENIOR NOTES DUE 2025 Source text: Further company coverage:
Walker & Dunlop Inc (WD): * WALKER & DUNLOP LAUNCHES $400 MILLION SENIOR UNSECURED NOTES OFFERING AND AMENDMENT AND EXTENSION OF ITS SENIOR SECURED TERM LOAN AGREEMENT. * Walker & Dunlop Inc (WD) - PROCEEDS TO REDUCE OUTSTANDING PRINCIPAL UNDER EXISTING TERM LOAN AGREEMENT Source text: Further company coverage:
* BAUSCH HEALTH PLANS DEBT SALE TO REFINANCE UPCOMING MATURITIES; CONSIDERING A DEBT OFFERING OF ABOUT $5 BILLION- BLOOMBERG NEWS Source https://tinyurl.com/5dcrv7hm.
* S&P SAYS SENEGAL RATING LOWERED TO 'B' ON LARGE FISCAL AND DEBT REVISIONS; OUTLOOK NEGATIVE. * S&P: NEGATIVE OUTLOOK REFLECTS OPINION THAT SENEGAL'S FISCAL CONSOLIDATION PATH COULD BE SUBJECT TO SIGNIFICANT IMPLEMENTATION RISKS Source text:
Global credit ratings agency S&P revised its outlook on France to negative from stable on Friday, citing rising debt, political gridlock on budget deficits and uncertain growth. The agency also affirmed its rating for France at 'AA-/A-1+'.
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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