Abu Dhabi National Energy Company, owned by Abu Dhabi state-owned holding company ADQ, has given its initial price guidance for dual-tranche U.S. dollar-denominated bonds, a document showed on Tuesday. It gave initial guidance of around 110 basis points over U.S. Treasuries for a seven-year tranche and around 3.75% for a 30-year Formosa portion, the document showed.
Charter Communications Inc (CHTR): * CHARTER PRICES $1.0 BILLION SENIOR UNSECURED NOTES. * 2033 NOTES WILL BEAR INTEREST AT A RATE OF 4.500% PER ANNUM Source text for Eikon: Further company coverage:
AM Best has assigned a Long-Term Issue Credit Rating of ?a-? to the $850 million 3.35% 10-year senior unsecured notes issued by Sammons Financial Group, Inc., an intermediate holding company indirectly owned by Sammons Enterprises, Inc.. The outlook assigned to this Credit Rating is stable.
* MOODY'S SAYS CHANGES PAPUA NEW GUINEA'S OUTLOOK TO NEGATIVE FROM STABLE; AFFIRMS B2 RATING. * MOODY'S SAYS OUTLOOK CHANGE DECISION REFLECTS RISKS THAT A WEAKENING IN PAPUA NEW GUINEA'S FISCAL STRENGTH, DEBT POSITION, RAISE LIQUIDITY RISKS. * MOODY'S, ON PAPUA NEW GUINEA, SAYS ELEVATED BORROWING REQUIREMENTS RAISE LIQUIDITY RISKS.
Days after officially introducing the company?s Sustainable Bond Framework, Pacific Life announced today it has completed an inaugural $800 million Sustainability Bond offering through the Capital Markets Group of its Institutional Division.
Charter Communications Inc (CHTR): * CHARTER OFFERS SENIOR UNSECURED NOTES. * CHARTER COMMUNICATIONS (CHTR) - UNITS INTEND TO OFFER SENIOR UNSECURED NOTES DUE 2033 Source text for Eikon: Further company coverage:
Junk-rated and emerging-market companies look set to raise record amounts of debt in coming months, urged on by bankers who advise taking advantage of funding markets before Treasury yields rise and push up borrowing costs.
Genesis Energy, L.P. (GEL) today announced the commencement of a registered, underwritten public offering of $200,000,000 in aggregate principal amount of 8.0% senior unsecured notes due 2027. BofA Securities, Inc. is leading the offering along with several joint book-running managers and co-managers.
Meituan (MPNGF), the Chinese food-delivery app operator, aims to raise up to US $10 billion by issuing shares and convertible bonds. The company is looking to raise up to US $7 billion from institutional investors and shareholder Tencent Holdings Ltd. via a share sale, according to a term sheet seen by The Wall Street Journal on Monday. The price range is 265 Hong Kong dollars to 274 Hong Kong dollars, representing a discount of up to 8.4% versus the company's last closing price of HK $289.20.
Abu Dhabi National Energy Company, owned by Abu Dhabi state-owned holding company ADQ, has hired banks to arrange a dual-tranche bond issuance comprising a seven-year tranche and 30-year Formosa paper, a document showed on Monday.
Fukoku Life Insurance plans to increase its holding of foreign stocks and corporate bonds this financial year, expecting low interest rates and recovery from the pandemic to support risk assets, an investment planning official told Reuters on Monday. In domestic markets, Fukoku plans to limit investments in Japanese government bonds and allocate funds to corporate bonds instead, the official said.
Entegris, Inc. (ENTG) today announced that it has priced its private offering of $400 million aggregate principal amount of 3.625% senior unsecured notes due 2029. The Company expects the net proceeds of the offering to be approximately $394 million, after deducting estimated commissions and offering fees and expenses.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of Industrial Alliance Insurance and Financial Services Inc.. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings of IA. Additionally, AM Best has affirmed the FSR of A and the Long-Term ICRs of ?a? of IA?s U.S. life insurance entities within the IA American Life Group.
CHICAGO, April 16, 2021 Hightower Holding, LLC announced today that it has priced an offering of $300 million aggregate principal amount of 6.75% senior notes due 2029 in a private offering.
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B++ and the Long-Term ICR of ?bbb? of EquiTrust Life Insurance Company.
Atlas Corp (ATCO): * SEASPAN ANNOUNCES PRICING OF US $300 MILLION SENIOR UNSECURED SUSTAINABILITY-LINKED BOND ISSUE. * SEASPAN CORPORATION - BONDS WILL MATURE IN APRIL 2026 AND BEAR INTEREST AT 6.50% PER ANNUM Source text for Eikon: Further company coverage:
LONDON, April 16, 2021 Seaspan Corporation, a wholly owned subsidiary of Atlas Corp. (ATCO), today announced that it has successfully priced US $300 million in new senior unsecured sustainability-linked bonds in the Nordic bond market.
Entegris Inc (ENTG): * ENTEGRIS ANNOUNCES PROPOSED $400 MILLION SENIOR UNSECURED NOTES OFFERING. * Entegris Inc (ENTG) - INTENDS TO OFFER $400 MILLION OF SENIOR UNSECURED NOTES DUE 2029 IN A PRIVATE OFFERING Source text for Eikon: Further company coverage:
Expected proceeds to be used to partially fund the redemption of senior unsecured notes due 2026 Entegris, Inc. (ENTG) today announced that it intends to offer $400 million aggregate principal amount of senior unsecured notes due 2029 in a private offering.
China Huarong Asset
Management Co (CHUAF), one of China's four largest asset management companies, has sparked concerns among global bond investors after it delayed the release of its 2020 earnings, prompting concerns over risks to offshore bondholders. For the latest story on the company, click. Following are key events in the company's history.
Tencent Holdings Ltd raised $4.15 billion on Friday in its second major bond deal in less than a year as global investors were enticed by its attractive pricing and overlooked a regulatory crackdown on China's tech giants.
Tencent Holdings Ltd. plans to raise a total of US $4.15 billion through debt issuance, and will use the proceeds raised to meet general corporate needs. The Chinese internet-and-videogaming giant plans to issue notes in various tranches, including a tranche worth US $1 billion with a 40- year maturity carrying a 3.940% annual coupon, Tencent said Friday. Other tranches include US $500 million of 2031 notes carrying a 2.880% coupon and US $900 million of 2041 notes that would pay...
Tencent Holdings Ltd raised $4.15 billion on Friday in its second major bond deal in less than a year as global investors were enticed by its attractive pricing and overlooked a regulatory crackdown on China's tech giants.
AutoCanada Inc (AOCIF): * AUTOCANADA ANNOUNCES UPSIZE AND PRICING OF ITS PRIVATE OFFERING OF ADDITIONAL SENIOR NOTES DUE 2025 AT A RE-OPENING PRICE OF 106.625% * AutoCanada Inc (AOCIF) - OFFERING CONSISTS OF ADDITIONAL $125 MILLION 8.75% SENIOR UNSECURED NOTES DUE FEBRUARY 11, 2025 Source text for Eikon: Further company coverage:
GYP Holdings III Corp., an indirect wholly-owned subsidiary of GMS Inc. (GMS), today announced that it has upsized and priced a private offering of $350.0 million aggregate principal amount of senior notes due 2029 in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, representing an increase of $50.0 million in aggregate principal amount from the...
Harrow Health, Inc. (HROW), an ophthalmic-focused healthcare company, today announced the pricing of its underwritten registered public offering of $50 million aggregate principal amount of 8.625% senior notes due 2026. Harrow Health (HROW) and this issuance of notes both received a rating of ?BB? from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
US Capital Global Securities LLC, an affiliate of US Capital Global, in association with Sundance Strategies, Inc., is offering to eligibleinvestors an investment opportunity of up to $500 million in life insurance-linked bonds.
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B++ and the Long-Term ICR of ?bbb+? of The Providence Mutual Fire Insurance Company.
Westamerica Bancorporation, parent company of Westamerica Bank, generated net income for the first quarter 2021 of $20.1 million and diluted earnings per common share of $0.75. First quarter 2021 results include ?make-whole? interest income on corporate bonds redeemed prior to maturity, which increased EPS $0.02. These results compare to net income of $23.8 million and EPS of $0.89 for the four...
CoreCivic, Inc. (CXW) closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 on April 14, 2021. Imperial Capital acted as left lead underwriter, StoneX Financial Inc. acted as joint bookrunner, and Wedbush Securities Inc. acted as co-manager for the offering.
PGIM Active Aggregate Bond ETF (PULS) offers actively managed fixed income at an attractive cost for investors PGIM Investments is expanding its exchange-traded fund lineup with the launch of the PGIM Active Aggregate Bond ETF (PULS). PAB is an actively managed fixed income ETF seeking total return through a combination of current income and capital appreciation.
WSP Global Inc (WSPOF): * WSP GLOBAL ANNOUNCES PRIVATE OFFERING OF $500 MILLION SENIOR UNSECURED NOTES. * WSP Global Inc (WSPOF) - PRICED AN OFFERING OF $500 MILLION OF 2.408% SENIOR UNSECURED NOTES DUE APRIL 19, 2028.
* FITCH AFFIRMS HONG KONG AT 'AA-'; OUTLOOK STABLE. * FITCH - FORECASTS GROWTH IN HONG KONG WILL RECOVER TO 4.5% IN 2021, ALONGSIDE A REBOUND IN GLOBAL ECONOMY. * FITCH SAYS HONG KONG'S RATINGS ARE SUPPORTED BY STRONG RECORD OF PUBLIC FINANCE MANAGEMENT, ROBUST EXTERNAL BUFFERS AND HIGH PER CAPITA INCOME LEVELS.
* FITCH REVISES OUTLOOK ON MACAO TO STABLE; AFFIRMS AT 'AA' * FITCH RATINGS HAS REVISED OUTLOOK ON MACAO'S LONG-TERM FOREIGN-CURRENCY ISSUER DEFAULT RATING TO STABLE FROM NEGATIVE, AND AFFIRMED RATING AT 'AA'. * FITCH - MACAO ECONOMY IS PROJECTED BY FITCH TO REBOUND BY 53% IN 2021 FOLLOWING AN UNPRECEDENTED ECONOMIC CONTRACTION OF 56.3% IN 2020.
Chinese internet and social media giant Tencent Holdings Ltd plans to raise up to $4 billion in a bond launched on Thursday, two sources with direct knowledge of the matter said. The deal has been launched with 10-, 20-, 30- and 40-year tranches, according to a term sheet reviewed by Reuters.
Public Storage (PSA): * PUBLIC STORAGE PRICES PUBLIC OFFERING OF SENIOR NOTES. * Public Storage (PSA) - PRICED A PUBLIC OFFERING OF $2.0 BILLION OF SENIOR NOTES. * Public Storage (PSA) - SENIOR NOTES WILL BE ISSUED IN THREE TRANCHES. * Public Storage (PSA) - FIRST TRANCHE OF $700 MILLION OF FLOATING RATE SENIOR NOTES DUE 2024. * Public Storage (PSA) - SECOND TRANCHE OF $650 MILLION OF FIXED RATE SENIOR NOTES DUE 2028.
Tom Boyle, Chief Financial Officer of Public Storage (PSA), announced today that the Company has priced a public offering of $2.0 billion aggregate principal amount of senior notes. The senior notes will be issued in three tranches. The offering is expected to close on April 23, 2021, subject to the satisfaction of customary closing conditions.
Harrow Health Inc (HROW): * HARROW HEALTH ANNOUNCES OFFERING OF $25 MILLION SENIOR NOTES DUE 2026 AND "BB" RATING FROM EGAN-JONES Source text for Eikon: Further company coverage:
Harrow Health, Inc. (HROW), an ophthalmic-focused healthcare company, today announced it has commenced an underwritten registered public offering of $25 million aggregate principal amount of senior notes due 2026, subject to market and certain other conditions.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Tugu Insurance Company Limited. The Credit Ratings reflect TIC?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.
AutoCanada Inc (AOCIF): * AUTOCANADA ANNOUNCES ADD-ON OFFERING OF $100,000,000 SENIOR NOTES TO EXISTING 8.75% SENIOR UNSECURED NOTES DUE 2025, EXTENSION OF CREDIT FACILITY FOR THREE YEARS AND SELECTED PRELIMINARY 2021 FIRST QUARTER RESULTS. * EFFECTIVE APRIL 14, 2021, HAS AMENDED AND EXTENDED ITS EXISTING CREDIT FACILITY FOR THREE YEARS TO 2024.
MIDLAND, Texas, April 13, 2021 ?CrownRock, L.P., an oil and gas producing joint venture of CrownQuest Operating and Lime Rock Partners, today announced the pricing of a private offering of $400.0 million principal amount of 5.000% senior unsecured notes due 2029 of CrownRock and CrownRock Finance, Inc. CrownRock intends to distribute the proceeds to CrownRock Holdings, L.P., its sole limited pa...
Nexpoint Real Estate Finance Inc (NREF) : * NEXPOINT REAL ESTATE FINANCE, INC. ANNOUNCES PRICING OF $75 MILLION OFFERING OF 5.75% SENIOR UNSECURED NOTES DUE 2026 Source text for Eikon: Further company coverage:
Parkland Corporation announced today the closing of its previously announced private offering of US$800 million aggregate principal amount of 4.500% senior unsecured notes due 2029.
DALLAS, April 13, 2021 ?NexPoint Real Estate Finance, Inc. (NREF) announced today the pricing of its underwritten public offering of?$75 million aggregate principal amount of its 5.75% Senior Unsecured Notes due 2026.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of National Fire and Indemnity Exchange. The ratings reflect NFIE?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
AM Best has assigned the Long-Term Issue Credit Ratings of ?a-? to the new yen-denominated senior unsecured notes of Aflac Incorporated (AFL) [NYSE:AFL], which total JPY 82.0 billion.
DALLAS, April 13, 2021 ?NexPoint Real Estate Finance, Inc. (NREF) announced today that it has launched an offering of its?senior unsecured notes. Raymond James is acting as sole book-running manager for the offering.
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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