U.S. Treasury yields rose on Thursday as economic data did not upend expectations the Federal Reserve will begin a gradual decrease in interest rates next week, and as the European Central Bank cut rates but gave little clarity on future easing. U.S. producer prices increased slightly more than expected in August, but the trend remained consistent with subsiding inflation.
AM Best has upgraded the Financial Strength Rating to B++ from B+ and the Long-Term Issuer Credit Rating to ?bbb? from ?bbb-? of National Unity Insurance Company. The ratings reflect National Unity?s balance sheet strength, which AM Best assesses as adequate, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
AM Best has downgraded the Financial Strength Rating to B from B+ and the Long-Term Issuer Credit Rating to ?bb+? from ?bbb-? of Universal Life Insurance Company. The Credit Ratings reflect ULICO?s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
AM Best has upgraded the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb? and affirmed the Financial Strength Rating of B++ of Hotai Insurance Co., Ltd.. Additionally, AM Best has revised the outlook of the FSR to positive from stable, while the outlook of the Long-Term ICR is positive.
U.S. Treasury yields were roughly unchanged on Thursday after economic data cemented investor expectations the Federal Reserve will begin a gradual decrease in interest rates next week. U.S. producer prices increased slightly more than expected in August, but the trend remained consistent with subsiding inflation.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of Pacific Life Insurance Company and Pacific Life & Annuity Company. The ratings reflect Pacific Life Group?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.
Doman Building Materials Group Ltd (CWXZF) : * Doman Building Materials Group Ltd (CWXZF). ANNOUNCES OFFERING AND PRICING OF $265 MILLION SENIOR NOTES. * Doman Building Materials Group Ltd (CWXZF) - TO SELL $265 MILLION AGGREGATE PRINCIPAL AMOUNT OF 7.50% SENIOR UNSECURED NOTES DUE 2029 Source text for Eikon: Further company coverage:
DUBLIN, Sept. 12, 2024 Perrigo Company plc (PRGO) today announced the pricing of a registered public offering by Perrigo Finance Unlimited Company, an indirect wholly-owned finance subsidiary of Perrigo (PRGO), of $715?million aggregate principal amount of the Issuer's 6.125% Senior Notes due 2032 and ?350 million aggregate principal amount of the Issuer's 5.375% Senior Notes due 2032.
UBS Asset Management has been selling corporate bonds in its global portfolios during market rallies, a senior fund manager said, citing concerns that a slowing economy or the looming U.S. election could spark volatility and wipe out returns.
VANCOUVER, BC, Sept. 11, 2024 OceanaGold Corporation? is pleased to provide results from exploration and resource conversion drilling?at the Haile Gold Mine in the United States. Gerard Bond, President & CEO of OceanaGold (OCANF), said "Today's outstanding resource conversion and definition drill results support our goal of delineating 2 million ounces underground at Haile by the end of this year.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of Top Layer Reinsurance Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect Top Layer?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and very strong enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Renaissance Reinsurance Ltd., Renaissance Reinsurance U.S. Inc., RenaissanceRe Specialty U.S. Ltd., Renaissance Reinsurance of Europe Unlimited Company and RenaissanceRe Europe AG.
AM Best has upgraded the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb? and affirmed the Financial Strength Rating of B++ of DPL Insurance Limited. The Credit Ratings reflect DPL?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.
?. NewHospitals Finance PLC. GBP178,300,000 1.7774 per cent Index Linked. Guaranteed Secured Bonds due 2047. ISSUE NAME. Our Ref. ISIN Code. INTEREST AMT PER DENOM. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 50,000.00 IS GBP 666.07. POOL FACTOR.
?. Central Nottinghamshire Hospitals PLC. GBP 351,900,000 1.8768 per cent. Guaranteed Secured Bonds due 2042. ISSUE NAME. Our Ref. ISIN Code. INTEREST AMT PER DENOM. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 50,000.00 IS GBP 569.9. POOL FACTOR.
Bunge Global SA (BG) today announced that Bunge Limited Finance Corp., its wholly owned finance subsidiary, has successfully priced a public offering of $2.0 billion aggregate principal amount, comprised of three tranches of senior unsecured notes, as follows: The Senior Notes will be fully and unconditionally guaranteed by Bunge Global SA (BG) on a senior unsecured basis.
WSP Global Inc (WSPOF): * WSP ANNOUNCES PRIVATE OFFERING OF $1 BILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES Source text for Eikon: Further company coverage:
American Assets Trust Inc (AAT): * AMERICAN ASSETS TRUST, INC. ANNOUNCES PRICING OF $525 MILLION OF 6.150% SENIOR UNSECURED NOTES DUE 2034 Source text for Eikon: Further company coverage:
PHINIA Inc. (PHIN) announced today that it has priced its previously announced offering and has agreed to issue and sell $450 million aggregate principal amount of its unsecured 6.625% senior notes due 2032 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended.
Avis Budget Group, Inc. (CAR) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc., priced a private offering of $700 million aggregate principal amount of 8.250% senior notes due 2030, which represents a $200 million increase from the previously announced size of the offering.
American Assets Trust, Inc. (AAT) today announced that its operating partnership, American Assets Trust (AAT), L.P., has priced a public offering of $525 million aggregate principal amount of 6.150% senior notes due 2034.
AM Best has downgraded the Financial Strength Rating to C++ from B- and the Long-Term Issuer Credit Rating to ?b? from ?bb-? of Wolverine Mutual Insurance Company. The ratings reflect Wolverine?s balance sheet strength, which AM Best assesses as weak, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
Helmerich & Payne, Inc. announced today that it intends to offer senior unsecured notes in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act.
Wynn Resorts, Limited (WYNN) announced today that Wynn Resorts Finance, LLC and its subsidiary Wynn Resorts Capital Corp., each an indirect wholly-owned subsidiary of Wynn Resorts (WYNN), are offering $800 million aggregate principal amount of Senior Notes due 2033 in a private offering.
* FITCH RATINGS: PERU UNLIKELY TO MEET ITS REVISED 2024 FISCAL DEFICIT TARGET. * FITCH ON PERU: EXPECT FISCAL REVENUES TO RISE ON REBOUNDING GROWTH & SUPPORTIVE COPPER PRICES, BUT DO NOT FORESEE SPENDING CUTS TO MEET FISCAL TARGETS.
Phillips Edison & Co Inc (PECO): * PHILLIPS EDISON (PECO) & COMPANY ANNOUNCES PRICING OF OFFERING OF $350 MILLION AGGREGATE PRINCIPAL AMOUNT OF 4.950% SENIOR UNSECURED NOTES DUE 2035. * Phillips Edison & Co Inc (PECO) - NOTES PRICED AT 98.458% OF PRINCIPAL AMOUNT, MATURING JAN 15, 2035 Source text for Eikon: Further company coverage:
National Storage Affiliates Trust (NSA) : * NATIONAL STORAGE AFFILIATES TRUST ANNOUNCES ISSUANCE OF $350 MILLION OF SENIOR UNSECURED NOTES Source text for Eikon: Further company coverage:
Kimco Realty?, a real estate investment trust and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-used properties in the United States, today announced the company achieved an ?A-? credit rating with a stable outlook from Fitch Ratings, making it one of just 12 publicly-listed U.S. REITs with a credit rating of ?A-? equivalent or better.
Phillips Edison & Company, Inc. (PECO), one of the nation?s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today announced that its operating partnership, Phillips Edison Grocery Center Operating Partnership I, L.P., has priced a public offering of $350 million aggregate principal amount of 4.950% senior unsecured notes due 2035.
National Storage Affiliates Trust (NSA), announced that its operating partnership, NSA OP, LP, has issued $350 million of aggregate principal amount of senior unsecured notes with a weighted average maturity of 7.6 years and a weighted average coupon of 5.60% in a private placement with institutional investors.
By Doug Young. The?latest results?from online insurance broker?Waterdrop Inc.? contained a steady stream of updates on both the company and its industry, providing a complex mix of both positive and negative developments for investors to drink up.
AM Best has assigned a Financial Strength Rating of B- and a Long-Term Issuer Credit Rating of ?bb-? to Upstream Life Insurance Company. The ratings reflect Upstream Life?s balance sheet strength, which AM Best assesses as weak, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
STOCKHOLM, Sept. 9, 2024 Sinch AB, which is pioneering the way the world communicates through its Customer Communications Cloud, today announces that the company has mandated Danske Bank, SEB and Svenska Handelsbanken as Joint Lead Managers to explore the possibility of issuing new SEK denominated senior unsecured notes under the recently established MTN program.
MOODY'S- * MOODY'S ON KAZAKHSTAN SAYS SIGNIFICANT DETERIORATION IN REGIONAL GEOPOLITICS AND POTENTIAL FOR SECONDARY SANCTIONS CONTINUE TO BE KEY RISKS. * MOODY'S: ENHANCEMENT TO INSTITUTIONAL & POLICY FRAMEWORK, ECONOMIC DIVERSIFICATION AWAY FROM HYDROCARBONS TO ENHANCE KAZAKHSTAN'S RESILIENCE TO SHOCK. * MOODY'S: EXPECT KAZAKHSTAN'S ECONOMIC & DIVERSIFICATION PROSPECTS TO REMAIN STRONG.
Phillips Edison & Company, Inc. (PECO), one of the nation?s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings upgraded its issuer credit rating for PECO and the Company?s operating partnership, Phillips Edison Grocery Center Operating Partnership I L.P., to ?Baa2? from ?Baa3?, with a stable outlook.
?. Santander UK PLC. Issue of GBP 1,100,000,000.00. Floating Rate Covered Bonds due June 2028. Series 81 Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. TOTAL INTEREST AMT. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 15,629,716.16. POOL FACTOR.
Green Dot Corp (GDOT): * GREEN DOT CORPORATION ANNOUNCES COMPLETION OF $45 MILLION SENIOR UNSECURED NOTES OFFERING Source text for Eikon: Further company coverage:
S&P- * S&P- JORDAN UPGRADED TO 'BB-' ON ECONOMIC RESILIENCE; OUTLOOK STABLE. * S&P- ECONOMIC ACTIVITY IN JORDAN HAS PROVEN RESILIENT IN THE FACE OF PERSISTENT REGIONAL STRESS. * S&P- RAISED LONG-TERM RATINGS ON JORDAN TO 'BB-' FROM 'B+' AND ASSIGNED A STABLE OUTLOOK.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Redbridge Insurance Company Limited. The ratings reflect RICL?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 Ratings of ?a+? for the members of Unum Insurance Group. The ratings reflect Unum?s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the U.S. property/casualty subsidiaries of Assurant, Inc. (AIZ) [NYSE: AIZ]. These companies are collectively referred to as Assurant P&C Group.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of Tokio Marine & Nichido Fire Insurance Co., Ltd. and its subsidiaries. The ratings reflect TMNF?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of DB Insurance Co., Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect DBI?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favourable business profile and appropriate enterprise risk management.
AM Best has revised the Long-Term Issuer Credit Rating outlook to stable from negative and affirmed the Financial Strength Rating of B and the Long-Term ICR of ?bb+? of WAICA Reinsurance Corporation PLC.
BUENOS AIRES, Argentina, Sept. 5, 2024 YPF S.A. has priced its international capital markets offering of U.S.$500,000,000 8.750% senior amortizing notes due 2031, and hereby announces the commencement of its offer to exchange up to U.S.$500,000,000 in aggregate principal amount of its outstanding 8.500% Senior Notes due July 2025 validly tendered and accepted for exchange for newly issued 8.750...
Varonis Systems, Inc. (VRNS), announced today that it priced a private offering of $400 million aggregate principal amount of 1.00% Convertible Senior Notes due 2029. The Notes will be unsecured senior obligations of the Company.
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.
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