?. SEGRO plc (SEGXF) has arranged a US private placement of ?225 million 15 and 20 year senior unsecured notes with a group of institutional investors. The issue consists of two tranches, both of which will be drawn down in September 2022: This translates to a weighted average coupon of 4.08 per cent and a weighted average maturity of 18.9 years.
Regulatory News: SEGRO plc has arranged a US private placement of ?225 million 15 and 20 year senior unsecured notes with a group of institutional investors. The issue consists of two tranches, both of which will be drawn down in September 2022: This translates to a weighted average coupon of 4.08 per cent and a weighted average maturity of 18.9 years.
Ormat Technologies, Inc. (ORA) announced today that it priced an upsized private offering of $375.0 million aggregate principal amount of 2.50% Green Convertible Senior Notes due 2027. The Notes will be unsecured senior obligations of the Company.
Targa Resources Corp (TRGP): * Targa Resources Corp (TRGP). PRICES $1.25 BILLION OFFERING OF SENIOR NOTES. * TARGA RESOURCES (TRGP) - ANNOUNCED PRICING OF UNDERWRITTEN PUBLIC OFFERING OF $750 MILLION 5.200% SENIOR NOTES DUE 2027 & $500 MILLION 6.250% SENIOR NOTES DUE 2052 Source text for Eikon: Further company coverage:
Targa Resources Corp. (TRGP), announced today the pricing of an underwritten public offering of $750 million aggregate principal amount of its 5.200% senior notes due 2027 and $500 million aggregate principal amount of its 6.250% senior notes due 2052 at a price to the public of 99.849% and 99.773% of their face value, respectively.
Central banks' focus on fighting persistently high inflation could lead to a recession over the next two years and raise the risk of 'financial accidents', U.S. investment firm PIMCO said on Wednesday. Rising prices have dominated the global financial markets this year, pushing central banks to increase interest rates to contain demand.
Central banks' focus on fighting persistently high inflation could lead to a recession over the next two years and raise the risk of 'financial accidents', U.S. investment firm PIMCO said on Wednesday. Rising prices have dominated the global financial markets this year, pushing central banks to increase interest rates to contain demand.
AM Best has removed from under review with developing implications and downgraded the Financial Strength Rating to B from B+ and the Long-Term Issuer Credit Rating to ?bb? from ?bbb-? of Triple-S Blue.
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Oregon Dental Services.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company, which operate under an intercompany pooling agreement.
A growing group of countries are likely to see their credit ratings come under pressure as rising global interest rates hit already-stretched finances, one of the world's biggest rating agencies S&P Global has warned.
Chinese state-backed Greenland Holdings Corp Ltd was on Wednesday downgraded to "selective default" by rating agency S&P Global, after the property developer extended the maturity of its $500-million bonds by one year.
* S&P - GREENLAND HOLDING DOWNGRADED TO 'SD' ON COMPLETION OF DISTRESSED MATURITY EXTENSION. * S&P - VIEW GREENLAND HOLDING'S TRANSACTION AS A DISTRESSED DEBT RESTRUCTURING TANTAMOUNT TO A DEFAULT Source text - https://bit.ly/39EtMII.
Fosun International Ltd (FOSUF): * UPDATE ON TENDER OFFER TO ACCEPT ANY-AND-ALL FOR FULL OUTSTANDING PRINCIPAL AMOUNT OF TWO OFFSHORE BONDS MATURING THIS YEAR. * TWO OFFSHORE BONDS ARE FOSUNI 5.5% 2023 US DOLLAR BOND PUTTABLE IN AUGUST THIS YEAR, AT AMOUNT ABOUT USD380 MILLION. * SAYS EXPIRATION DEADLINE IS 4 JULY 2022 AND PURCHASE PRICE OF THESE TWO BONDS IS REDEEMABLE AT 100% OF FACE VALUE.
Enviva Inc (EVA): * ENVIVA ANNOUNCES TAX-EXEMPT GREEN BOND OFFERING. * SAYS INTENDS TO ISSUE EXEMPT FACILITIES REVENUE BONDS SERIES 2022 IN AGGREGATE PRINCIPAL AMOUNT OF $250 MILLION. * DESIGNATED BONDS AS GREEN BONDS BECAUSE PROCEEDS WILL BE USED TO FINANCE CONSTRUCTION OF A FULLY CONTRACTED WOOD PELLET PRODUCTION PLANT Source text for Eikon: Further company coverage:
Enviva Inc. (EVA) today announced that the Industrial Development Authority of Sumter County, Alabama, intends to issue its Exempt Facilities Revenue Bonds, Series 2022 in the aggregate principal amount of $250,000,0001.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the property/casualty subsidiaries of The Hanover Insurance Group, Inc. (THG) [NYSE: THG], which are collectively referred to as The Hanover.
Ormat Technologies, Inc. (ORA) announced today its intention to offer $350 million aggregate principal amount of Green Convertible Senior Notes due 2027 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, subject to market conditions and other factors.
More than 30 asset managers holding Sri Lanka's international bonds announced on Tuesday the formal launch of a creditor group to start debt restructuring talks with the island nation, according to a statement from legal adviser White & Case LLC.
CHARLOTTE, N.C., June 21, 2022 ?Having eliminated the middleman and released industry-leading technology, Jet Insurance Company is now the first and only surety company to provide on-demand surety bonds to its customers.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Multinational Insurance Company. The ratings reflect Multinational?s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
Teleperformance SE: * SUCCESS OF ITS INAUGURAL "SUSTAINABILITY-LINKED BONDS" ISSUE. * EUR 500 MILLION WITH A 7-YEAR MATURITY AND AN ANNUAL COUPON OF 3.750% Source text for Eikon: Further company coverage:
Credit rating firm Moody's will formally shut its office in Russia's capital Moscow at the end of the month, sources told Reuters, with staff either being cut or relocated elsewhere.
DBRS Morningstar has assigned BlueShore Financial Credit Union a rating of a Long-Term Issuer Rating of BBB and a Short-Term Issuer Rating of R-1. The rating reflects BlueShore Financial?s strong franchise position, asset quality, risk profile and prudent levels of liquidity and capital.
Euro corporate bonds were set on Friday for their biggest weekly total loss since the height of the market turmoil triggered by the COVID-19 pandemic in March 2020, while spreads on U.S. junk bonds were at their highest since November 2020.
Entegris Inc (ENTG): * ENTEGRIS, INC. ANNOUNCES PRICING OF PRIVATE OFFERING OF SENIOR UNSECURED NOTES. * UNIT PRICED PRIVATE OFFERING OF $895 MILLION AGGREGATE PRINCIPAL AMOUNT OF 5.950% SENIOR UNSECURED NOTES DUE 2030. * PRIVATE OFFERING OF $895 MILLION AT A PRICE OF $908.32 PER $1,000 PRINCIPAL AMOUNT Source text for Eikon: Further company coverage:
Entegris (ENTG), Inc. today announced that its wholly-owned subsidiary, Entegris Escrow Corporation priced its previously announced private offering of $895,000,000 aggregate principal amount of 5.950% senior unsecured notes due 2030 at a price of $908.32 per $1,000 principal amount.
AM Best has assigned a Long-Term Issuer Credit Rating of ?aa-? to Sammons Financial Group Global Funding. SFG Global Funding is a new statutory trust organized in Delaware created to issue senior secured medium-term notes collateralized by funding agreements issued to it by Midland National Life Insurance Company, an Iowa-domiciled life insurance company that is part of Sammons Financial Group.
AM Best has downgraded the Financial Strength Rating to B+ from A- and the Long-Term Issuer Credit Rating to ?bbb-? from ?a-? of Kelvin Re Limited. The ratings reflect Kelvin Re?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa? of Mitsui Sumitomo Insurance Company, Limited. AM Best also has affirmed the FSR of A+ and the Long-Term ICR of ?aa? of Aioi Nissay Dowa Insurance Company Limited. In addition, AM Best has affirmed the FSR of A- and the Long-Term ICR of ?a-? of Aioi Nissay Dowa Insurance Company Limited.
Moody's: * MOODY'S SAYS AS RATES RISE, INTEREST EXPENSE COULD BECOME UNTENABLE FOR HALF OF B3 COMPANIES IN NORTH AMERICA. * MOODY'S SAYS IF RATES WERE TO INCREASE 300 BPS, MANY B3-RATED COS WOULD BE CHALLENGED TO COVER INTEREST EXPENSE, ABSENT MEANINGFUL EARNINGS GROWTH.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to the CAD 1.0 billion, 7.117% subordinated notes, due June 19, 2082, recently announced by Manulife Financial Corporation (MFC) [NYSE: MFC]. The outlook assigned to the Credit Rating is stable.
AM Best has affirmed the Long-Term Issuer Credit Rating of ?bbb-? of Palomar Holdings, Inc. [NASDAQ: PLMR], the ultimate parent and insurance holding company of Palomar Specialty Insurance Company, Palomar Excess and Surplus Insurance Company and Palomar Specialty Reinsurance Company Bermuda Ltd.. Concurrently, AM Best has affirmed the Financial Strength Rating of A- and the Long-Term ICRs of ?...
Entegris Inc (ENTG): * Entegris Inc (ENTG) - UNIT ENTEGRIS ESCROW CORPORATION INTENDS TO OFFER $895 MILLION OF SENIOR UNSECURED NOTES DUE 2030 IN A PRIVATE OFFERING Source: [ID: https://bit.ly/3OauSuo] Further company coverage:
Entegris Inc (ENTG): * ENTEGRIS, INC. ANNOUNCES PROPOSED PRIVATE OFFERING OF SENIOR UNSECURED NOTES. * Entegris Inc (ENTG) - UNIT ENTEGRIS ESCROW CORPORATION INTENDS TO OFFER SENIOR UNSECURED NOTES DUE 2030 Source text for Eikon: Further company coverage:
Entegris (ENTG), Inc. today announced that its wholly-owned subsidiary, Entegris Escrow Corporation, intends to offer senior unsecured notes due 2030, subject to market and customary conditions.
S&P: * S&P SAYS BRAZIL 'BB-/B' RATINGS AFFIRMED; OUTLOOK REMAINS STABLE. * S&P ON BRAZIL SAYS ALSO AFFIRMED OUR 'BRAAA' NATIONAL SCALE RATING, AND THE OUTLOOK REMAINS STABLE. * S&P SAYS RESILIENT PRIVATE CONSUMPTION AND FAVORABLE TERMS OF TRADE SHOULD LEAD TO STRONGER-THAN-EXPECTED ECONOMIC GROWTH FOR BRAZIL IN 2022.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the operating subsidiaries of Everest Re Group, Ltd.. Concurrently, AM Best has affirmed the Long-Term ICRs of ?a-? of Everest Re Group, Ltd. [NYSE: RE] and Everest Reinsurance Holdings, Inc.. Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings of Everest Reinsurance Ho...
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa? of Caisse Centrale de R?assurance. The ratings of CCR reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Armed Forces Insurance Exchange. The ratings reflect AFIE?s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
AM Best has revised the outlook of the Long-Term Issuer Credit Rating to stable from negative and affirmed the Financial Strength Rating of B and the Long-Term ICR of ?bb+? of Kenya Reinsurance Corporation Limited.
China Construction Bank Corp started selling 60 billion yuan in bonds on Wednesday, joining peers as they rush to replenish capital in response to tighter regulations and government calls to support a virus-hit economy.
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that iShares iBoxx $ Investment Grade Corporate Bond ETF traded 10 times its average daily put volume, he added. Check out assets making big moves in the premarket. There was a buyer of 138,000 of the October 95/85 put spreads an average price of 50 cents per contract, Khouw mentioned.
Sotherly Hotels Inc (SOHO): * Sotherly Hotels Inc (SOHO). COMPLETES SALE OF RALEIGH, NC HOTEL, PARTIALLY REPAYS CORPORATE DEBT. * Sotherly Hotels Inc (SOHO)- CLOSED ON SALE OF DOUBLETREE BY HILTON RALEIGH BROWNSTONE IN RALEIGH, NORTH CAROLINA FOR $42 MILLION.
TASHKENT, Uzbekistan, June 14, 2022 ?On Friday, Artel Electronics LLC, Central Asia's leading electronics and home appliance manufacturer, became the largest 100% privately-owned company to successfully place a corporate bond on the Tashkent Stock Exchange. The bond on the TSE is Artel's first capital markets activity, either domestically or internationally.
- U.S. corporate bonds were pummeled on Monday as expectations of an aggressive rate hiking cycle, following hotter-than-anticipated inflation data last week, intensified concerns over the economic outlook and companies' ability to repay their debt.
U.S. corporate bonds were pummeled on Monday as expectations of an aggressive rate hiking cycle, following hotter-than-anticipated inflation data last week, intensified concerns over the economic outlook and companies' ability to repay their debt.
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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