* 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.
Ratings agency Fitch said that Unilever's (UL) bid for GlaxoSmithKline's (GSK) consumer health assets would put the consumer goods group's 'A' credit rating at risk because of the huge debt it would have to swallow. Unilever's (UL) 50 billion pound initial bid for GSK's consumer health arm, which owns brands including Panadol painkillers and Sensodyne toothpaste, was rejected by the pharmaceuticals company.
Ratings agency Fitch said on Monday it has placed various ratings from Citigroup's (C) consumer banking arm in Mexico on review for downgrade after Citigroup (C) announced plans to sell the unit. The review, dubbed Rating Watch Negative, applies to ratings at Citibanamex, as the Mexico business is known, as well as some affiliate units.
Ratings agency Moody's Investors Service on Sunday placed all ratings and assessments of the consumer banking arm of Citigroup (C) in Mexico on review for downgrade.
Ratings agency Moody's Investors Service on Sunday placed all ratings and assessments of the consumer banking arm of Citigroup (C) in Mexico on review for downgrade.
* FITCH REVISES ANDORRA'S OUTLOOK TO POSITIVE; AFFIRMS AT 'BBB+' * FITCH SAYS EXPECTS RECOVERY IN GDP GROWTH AND DECLINE IN FISCAL SUPPORT IN ANDORRA TO UNDERPIN A RETURN TO GENERAL GOVERNMENT FISCAL SURPLUS IN 2022. * FITCH ON ANDORRA SAYS IN 2022, EXPECT DIRECT TAX REVENUES TO BENEFIT FROM HIGH EMPLOYMENT RATE, WHICH WAS AT ITS HIGHEST LEVEL IN 10 YEARS IN 3Q21.
JPMorgan Chase & Co (JPM) posted fourth-quarter profit ahead of market expectations on Friday, but its shares fell as much as 6% as analysts expressed disappointment over its forecasts for future profitability.
* FITCH RATINGS: OMICRON WEAKENS GLOBAL LODGING REVENUE RECOVERY PROSPECTS. * FITCH - EXPECTS URBAN DESTINATIONS, IN UPSCALE SEGMENT TARGETING BUSINESS TRAVELLERS, TO REMAIN UNDER PRESSURE AS 'RETURN TO OFFICE' POLICIES HAVE BEEN DELAYED.
Charter Communications Inc (CHTR): * CHARTER PRICES $1.2 BILLION SENIOR UNSECURED NOTES. * CHARTER-SUBSIDIARIES,CCO HOLDINGS, LLC,CCO HOLDINGS CAPITAL CORP HAVE PRICED $1.2 BILLION IN AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2032 Source text for Eikon: Further company coverage:
Charter Communications Inc (CHTR): * CHARTER OFFERS SENIOR UNSECURED NOTES. * CHARTER COMMUNICATIONS (CHTR) - UNIT INTEND TO USE NET PROCEEDS INCLUDING TO FUND POTENTIAL BUYBACKS OF CLASS A COMMON STOCK OF CHARTER Source text for Eikon: Further company coverage:
China Evergrande Group's (EGRNF) main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan onshore bond, Hengda said in a filing on Thursday. The company had been seeking a six-month delay for redemption and coupon payments on its 6.98% January 2023 bond at a meeting with bondholders held Jan. 7-13.
Sonoco Products Co (SON): * SONOCO PRICES INAUGURAL GREEN BOND OFFERING. * SONOCO - GREEN BONDS TOTAL $1.2 BILLION AGGREGATE PRINCIPAL AMOUNT Source text for Eikon: Further company coverage:
SLR Investment Corp (SLRC): * SLR Investment Corp (SLRC). ISSUES $135 MILLION OF FIVE-YEAR 3.33% SENIOR UNSECURED NOTES; REDUCES LONG-TERM AVERAGE BORROWING RATE Source text for Eikon: Further company coverage:
* MOODY'S SAYS INTEREST RATES TO RISE FASTER AS OMICRON'S IMPACT ON ECONOMY LIKELY TO BE TEMPORARY. * MOODY'S SAYS NOW EXPECT THREE U.S. INTEREST RATE HIKES THIS YEAR, COMPARED WITH NOVEMBER EXPECTATION OF NONE UNTIL 2023. * MOODY'S SAYS OMICRON'S IMPACT ON ECONOMIC ACTIVITY WILL LIKELY BE TEMPORARY AND MUTED.
Realty Income Corp (O): * REALTY INCOME PRICES ?500 MILLION OF DUAL-TRANCHE STERLING-DENOMINATED SENIOR UNSECURED NOTES. * REALTY INCOME (O) - ANNOUNCED PRICING OF PUBLIC OFFERING OF ?250 MILLION OF 1.875% SENIOR UNSECURED NOTES DUE JAN 14, 2027.
Starwood Property Trust Inc (STWD): * STARWOOD PROPERTY TRUST PRICES PRIVATE OFFERING OF SUSTAINABILITY BONDS. * Starwood Property Trust Inc (STWD)- PRICED ITS PRIVATE OFFERING OF $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 4.375% UNSECURED SENIOR NOTES DUE 2027 Source text for Eikon: Further company coverage:
Federal Home Loan Mortgage Corp : * FREDDIE MAC TO ISSUE WHEN-ISSUED BONDS FOR BENCHMARK K-DEAL BOND CLASS Source text for Eikon: Further company coverage:
CME Group Inc (CME) said on Monday it will launch futures on 20-year U.S. Treasury bonds on March 7, pending regulatory review, to help investors better manage their U.S. Treasury curve exposure.
CME Group Inc (CME) said on Monday it will launch futures on 20-year U.S. Treasury bonds on March 7, pending regulatory review, to help investors better manage their U.S. Treasury curve exposure.
Abu Dhabi solar energy firm Sweihan PV Power Company aims to raise more than $700 million through the sale of amortising green bonds, an investor presentation reviewed by Reuters on Monday showed. Sweihan owns the Noor Abu Dhabi solar plant, the largest such facility in the United Arab Emirates, which began commercial operations in 2019.
French sugar and ethanol group Tereos said on Monday its subsidiary Tereos Finance Groupe I intended to issue 300 million euros in senior unsecured notes, subject to market conditions, to repay some of its existing debt. The bond would be due in 2027, it said in a financial release posted on its website.
Kazakhstan's strong finances mean its investment grade rating is unlikely to be impacted by this week's violent protests and subsequent government resignation. "Our base-case expectation is that President Tokayev, with Russian assistance, will eventually restore order," S&P said in a note on the situation in tightly-controlled former Soviet state.
A U.S. judge on Wednesday narrowed but refused to dismiss a Securities and Exchange Commission lawsuit accusing Morningstar Inc (MORN) of letting analysts adjust credit rating models for about $30 billion of mortgage securities, resulting in lower payouts to investors.
A U.S. judge on Wednesday narrowed but refused to dismiss a Securities and Exchange Commission lawsuit accusing Morningstar Credit Ratings LLC of violating federal securities laws in its ratings of commercial mortgage-backed securities.
Realogy Holdings Corp (RLGY): * REALOGY ANNOUNCES PROPOSED $550 MILLION OFFERING OF SENIOR NOTES. * Realogy Holdings Corp (RLGY) - UNIT, TOGETHER WITH CO-ISSUER, IS PROPOSING TO ISSUE $550 MILLION SENIOR NOTES DUE 2030 IN PRIVATE OFFERING. * REALOGY HOLDINGS (RLGY) - INTENDS TO USE NET PROCEEDS FROM FFERING, TOGETHER WITH CASH ON HAND, TO REDEEM IN FULL UTSTANDING 9.375% SENIOR NOTES DUE 2027.
Ant Group Co Ltd: * FITCH RATINGS: ANT GROUP'S RESTRUCTURING ADVANCES; IMPACT ON ALIBABA MANAGEABLE. * FITCH SAYS GOVERNMENT'S LARGER SHAREHOLDING WILL GIVE ANT GROUP GREATER INFLUENCE, OVERSIGHT ON CACF'S BUSINESS THROUGH APPOINTMENT OF BOARD MEMBERS.
Bloomberg News
Indian billioniare Mukesh Ambani-owned Reliance Jio Infocomm, the country's
top telecom operator, is planning its largest ever rupee bond sale for up to
$670.65 million of ...
Royal Caribbean Cruises Ltd: * ROYAL CARIBBEAN GROUP ANNOUNCES UPSIZING AND PRICING OF $1,000,000,000 SENIOR UNSECURED NOTES. * ROYAL CARIBBEAN GROUP (RCL) - NOTES WILL MATURE ON JULY 15, 2027. * ROYAL CARIBBEAN GROUP (RCL) - PRICED PRIVATE OFFERING OF $1 BILLION OF 5.375% SENIOR UNSECURED NOTES DUE 2027.
Royal Caribbean Cruises Ltd: * ROYAL CARIBBEAN GROUP ANNOUNCES PROPOSED OFFERING OF SENIOR UNSECURED NOTES. * ROYAL CARIBBEAN GROUP (RCL) - COMMENCED A PRIVATE OFFERING OF $700 MILLION OF SENIOR UNSECURED NOTES DUE 2027. * ROYAL CARIBBEAN GROUP (RCL) - INTENDS TO USE PROCEEDS FROM SALE OF NOTES TO REPAY PRINCIPAL PAYMENTS ON DEBT MATURING IN 2022 Source text for Eikon: Further company coverage:
Hong Kong's Airport Authority is aiming to raise up to $4 billion in a multi-tranche dollar bond offering, according to two sources with direct knowledge of the matter. The sources spoke on condition of anonymity as the information has not yet been made public. The authority has mandated 22 banks to work on the deal, a term sheet seen by Reuters on Monday showed.
The board of Jordan's Capital Bank approved a mandatory offer to acquire Societe Generale Bank Jordan, part of a drive to expand the bank's foothold regionally and domestically, its chairman said on Sunday. Bassem Al Salem told Reuters an extraordinary general meeting had on Thursday also agreed to issue $100 million in perpetual bonds - meaning they have no maturity - to help drive growth.
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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