* MOODY'S -- EVERGRANDE'S LAX COVENANTS WORSEN OFFSHORE BONDHOLDERS' WOES. * MOODY'S- COVENANT PROTECTIONS OF EVERGRANDE'S BONDS AGAINST KNOWN STRUCTURAL SUBORDINATION RISK HAVE LOOSENED OR BEEN ELIMINATED TO THE DETRIMENT OF OFFSHORE BONDHOLDERS. * MOODY'S SAYS EVERGRANDE'S WEAKENED COVENANTS HAVE ENDANGERED DEBT SERVICING AND FURTHER SUBORDINATED OFFSHORE BONDS Further company coverage:
JPMorgan (JPM) and Morgan Stanley (MS) began a roadshow on Tuesday ahead of an inaugural bond issuance by ADNOC Murban, an entity to issue international bonds for Abu Dhabi National Oil Company, an investors' note reviewed by Reuters showed. The meetings will run through Friday and will target investors in Asia, Europe, the Middle East and Africa, and the United States, the note showed.
Rating agency Moody's cut Kyrgyzstan's credit rating to B3 from B2, saying the authorities' decision to nationalise the Central Asian nation's largest gold mine last year indicated weak governance and investment climate deterioration.
-Moody's upgraded Tesla Inc's (TSLA) debt rating by two notches to "Ba1" from "Ba3" on Monday, reflecting the ratings agency's expectations that the Elon Musk-led company will maintain its position as the leading battery electric vehicle manufacturer.
* MOODY'S UPGRADES TESLA'S CORPORATE FAMILY RATING TO BA1; OUTLOOK POSITIVE. * MOODY'S - ANTICIPATES THAT TESLA WILL DELIVER NEARLY 1.4 MILLION VEHICLES IN 2022, UP FROM APPROXIMATELY 936,000 IN 2021. * MOODY'S- RATING UPGRADE,POSITIVE OUTLOOK REFLECT MOODY'S EXPECTATION TESLA WILL MAINTAIN ITS POSITION AS THE LEADING MANUFACTURER OF BATTERY ELECTRIC VEHICLES.
Tesla Inc (TSLA) on Monday fought back against JPMorgan Chase & Co (JPM) over a disputed bond contract, countersuing the bank for seeking a "windfall" following Elon Musk's notorious 2018 tweet that he might take his electric car company private.
Tesla Inc (TSLA) on Monday fought back against JPMorgan Chase & Co (JPM) over a disputed bond contract, countersuing the bank for seeking a "windfall" following Elon Musk's notorious 2018 tweet that he might take his electric car company private.
Tesla Inc (TSLA) on Monday fought back against JPMorgan Chase & Co (JPM) over a disputed bond contract, countersuing the bank for seeking a "windfall" following Chief Executive Elon Musk's notorious 2018 tweet that he might take his electric car company private.
Sonoco Products Co (SON): * SONOCO ISSUES INAUGURAL GREEN BONDS TO EXPAND CIRCULAR ECONOMY PRODUCTS. * Sonoco Products Co (SON) - GREEN BONDS TOTAL $1.2 BILLION AGGREGATE PRINCIPAL AMOUNT OF UNSECURED NOTES Source text for Eikon: Further company coverage:
- Mexico faces risks to economic growth and potential for a credit rating downgrade in the medium term from political developments including the likely passage of a controversial energy bill, JP Morgan said in a report.
* FITCH AFFIRMS BULGARIA AT 'BBB'; OUTLOOK POSITIVE. * FITCH ON BULGARIA SAYS POSITIVE OUTLOOK REFLECTS PROSPECT OF EURO ADOPTION, WHICH WOULD LEAD TO SIGNIFICANT IMPROVEMENTS IN EXTERNAL METRICS. * FITCH ON BULGARIA SAYS IT MAINTAINS ITS VIEW THAT ECONOMIC PROSPECTS WILL BE FAVOURABLE OVER NEXT YEARS, SUPPORTED BY SUBSTANTIAL EU FUNDING Source text for Eikon:
Nexpoint Real Estate Finance Inc (NREF) : * NEXPOINT REAL ESTATE FINANCE, INC. ANNOUNCES OFFERING OF SENIOR UNSECURED NOTES. * Nexpoint Real Estate Finance Inc (NREF) - HAS LAUNCHED AN OFFERING OF ITS 5.75% SENIOR NOTES DUE 2026.
- Investors stepped up selling in global bond funds in the seven days to Jan. 19 as hawkish remarks from U.S. Fed officials amid rising inflationary pressure solidified expectations that the central bank will tighten monetary policy as early as March. Investors offloaded global bond funds of $4.12 billion, that topped previous weeks outflows by about 69%, Refinitiv Lipper data showed.
Investors stepped up selling in global bond funds in the seven days to Jan. 19 as hawkish remarks from U.S. Fed officials amid rising inflationary pressure solidified expectations that the central bank will tighten monetary policy as early as March. Investors offloaded global bond funds of $4.12 billion, that topped previous weeks outflows by about 69%, Refinitiv Lipper data showed.
Nufarm Ltd (NUFMF): * PRICES US$350 MILLION SENIOR UNSECURED NOTES OFFERING. * NOTES WILL HAVE A FIXED RATE COUPON OF 5% * INTENDS TO APPLY NET PROCEEDS RECEIVED FROM NOTES TOGETHER WITH CASH ON HAND TO FULLY REPAY AMOUNTS OUTSTANDING Source text for Eikon: Further company coverage:
AutoCanada Inc (AOCIF): * AUTOCANADA ANNOUNCES OFFERING OF $300 MILLION SENIOR UNSECURED NOTES. * AutoCanada Inc (AOCIF) - INTENDS TO OFFER $300 MILLION OF 7-YEAR SENIOR UNSECURED NOTES. * AutoCanada Inc (AOCIF) - INTENDS TO USE NET PROCEEDS OF OFFERING TO FUND REDEMPTION OF ITS OUTSTANDING $250 MILLION 8.75% SENIOR NOTES DUE 2025.
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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