Fitch Ratings placed The Walt Disney Co.' s senior unsecured A rating on review for a possible downgrade on Friday, citing the material increase in leverage that Disney's (DIS) revised bid for assets of 21st Century Fox Inc. (FOX) would create. The move further "incorporates a degree of uncertainty related to the final terms of the transaction due to the potential for a competing offer from Comcast Corp.," said the agency. Fitch estimates that the new terms will increase Disney's (DIS) leverage to...
A.M. Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to a- from bbb+ of Active Capital Reinsurance, Ltd. . The outlook of these Credit Ratings remains stable.
A.M. Best has downgraded the Financial Strength Rating to C- from B- and the Long-Term Issuer Credit Rating to cc from bb- of Capital Life Insurance Company Limited. Concurrently, A.M. Best has downgraded the FSR to C++ from B- and the Long-Term ICR to b+ from bb- of Capital General Insurance Company Limited.
NEW YORK, June 21, 2018 Wix.com Ltd. (WIX), a leading global web development platform, today announced the pricing of $385 million aggregate principal amount of 0% Convertible Senior Notes due 2023 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Vale SA: * BRAZIL'S VALE SAYS REPURCHASED $977 MILLION IN PRINCIPAL OF 5.625% BONDS DUE IN 2042. * BRAZIL'S VALE SAYS ADDITIONAL $29.2 MILLION IN AGGREGATE PRINCIPAL AMOUNT WERE REPURCHASED - FILING. * BRAZIL'S VALE SAYS BONDHOLDERS TO DELIVER SECURITIES BY 5 PM ON JUNE 25- FILING Source text for Eikon: Further company coverage:
PHILADELPHIA, June 21, 2018 Aberdeen Global Income Fund, Inc. (FCO), a closed-end bond fund, announced today its performance data and portfolio composition as of May 31, 2018. May 31, 2018 are provided below. : The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the various currencies listed below.
PHILADELPHIA, June 21, 2018 Aberdeen Asia-Pacific Income Fund, Inc. (FAX), a closed-end bond fund, announced today its performance data and portfolio composition as of May 31, 2018. May 31, 2018 are provided below. : The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the various currencies listed below.
PHILADELPHIA, June 21, 2018 Aberdeen Income Credit Strategies Fund1 , a closed-end bond fund, announced today its performance data and portfolio composition as of May 31, 2018. May 31, 2018 are provided below. : The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the various currencies listed below.
Getty Realty Corp. (GTY) announced today it has issued $100.0 million of senior unsecured notes maturing in 2028 bearing interest at a fixed rate of 5.47%. The senior unsecured notes were issued in a private placement with The Prudential Insurance Company of America and the Metropolitan Life Insurance Company, and are subject to substantially similar terms and conditions as the Companys existing sen...
A.M. Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of aa- of Wilton Reinsurance Bermuda Limited , Wilton Reassurance Company, Texas Life Insurance Company , Wilton Reassurance Life Company of New York , Wilcac Life Insurance Company and Wilco Life Insurance Company, collectively referred to as Wilton Re.
A.M. Best has upgraded the Long-Term Issuer Credit Ratings to a+ from a and affirmed the Financial Strength Rating of A for the majority of the UnitedHealthcare insurance subsidiaries of UnitedHealth Group Incorporated (UNH) [NYSE: UNH]. Concurrently, A.M. In addition, A.M. Best has upgraded the FSR to A from A- and the Long-Term ICR to a from a- for Dental Benefit Providers of California, I...
A.M. Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of bbb+ of Tune Protect Re Ltd., a wholly owned subsidiary of Tune Protect Group Berhad. The outlook of these Credit Ratings is stable.
Redwood Trust Inc (RWT): * REDWOOD TRUST ANNOUNCES PRICING OF 5.625% CONVERTIBLE SENIOR NOTES DUE 2024. * PRICED $200 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 5.625% CONVERTIBLE SENIOR NOTES DUE 2024 IN AN UNDERWRITTEN PUBLIC OFFERING Source text for Eikon: Further company coverage:
The Kinney County Public Facility Corp. issued $9.23 million in project revenue bonds to finance the the warehouse style building with 384 beds for adults.
Frontera Energy Corp (FECCF): * FRONTERA ANNOUNCES PRICING OF U.S.$350 MILLION AT 9.70% SENIOR UNSECURED NOTES OFFERING Source text for Eikon: Further company coverage:
NEW YORK, June 20, 2018 Wix.com Ltd. (WIX), a leading global web development platform, today announced its intention to offer, subject to market conditions and other factors, $350 million aggregate principal amount of Convertible Senior Notes due 2023 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
A.M. Best has upgraded the Long-Term Issuer Credit Rating to bb+ from bb and affirmed the Financial Strength Rating of B of Discovery Insurance Company. The outlook for these Credit Ratings remains stable.
A.M. Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of aa of the property/casualty members of Erie Insurance Group . Additionally, A.M. Best has affirmed the FSR of A and the Long-Term ICR of a of Erie Family Life Insurance Company . Concurrently, A.M. Best has affirmed the Long-Term Issue Credit Rating of bbb+ on EFLs $20 million, 6.26% sur...
A.M. Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of aa of the members of Progressive Agency Pool, Progressive Direct Pool and Progressive Commercial Auto Group . A.M. Best also has affirmed the FSR of A and the Long-Term ICR of a+ of National Continental Insurance Company . Additionally, A.M. Best has affirmed the Long-Term ICR of a and al...
A.M. Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of a- of BCBSM, Inc., d/b/a Blue Cross Blue Shield of Minnesota and its subsidiary, HMO Minnesota d/b/a Blue Plus. In addition, A.M. Best has affirmed the Long-Term Issue Credit Rating of bbb+ on the $250 million 3.79% senior unsecured notes due 2025 issued by BCBSM.
A.M. Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of bbb+ of Tryggingamidstodin hf. The ratings reflect TMs balance sheet strength, which A.M. Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
EQT Midstream Partners LP (EQM): * EQT MIDSTREAM PARTNERS ANNOUNCES OFFERING OF SENIOR NOTES. * INTENT TO OFFER THREE NEW SERIES OF SENIOR UNSECURED NOTES. * TO USE PROCEEDS FROM OFFERING OF NOTES TO REPAY AMOUNTS OUTSTANDING UNDER ITS 364-DAY TERM LOAN FACILITY, AMONG OTHERS.
EQT Midstream Partners, LP (EQM) today announced its intent to offer, subject to market conditions, three new series of senior unsecured notes, in an underwritten public offering, each in an aggregate principal amount to be determined at pricing.
Northern Oil and Gas Inc (NOG): * NORTHERN OIL AND GAS (NOG), INC. ANNOUNCES ADDITIONAL $22.8 MILLION STOCK FOR NOTES EXCHANGE. * Northern Oil and Gas Inc (NOG) - ENTERED INTO TWO ADDITIONAL AGREEMENTS WITH INSTITUTIONAL HOLDERS OF ITS 8% SENIOR UNSECURED NOTES DUE 2020. * Northern Oil and Gas Inc (NOG) - TOGETHER NEW AGREEMENTS REPRESENT A DEBT REDUCTION OF $22.8 MILLION PAR VALUE OF NOTES.
Northern Oil and Gas, Inc. (NOG) today announced that it has entered into two additional independent, separately negotiated exchange agreements with institutional holders of its 8% senior unsecured notes due 2020. In one of the new exchanges for the Notes, representing $19,807,000 of par value, Northern will issue 6,582,018 shares of common stock to the Investor.
Hungary has no near-term plans to issue eurobonds - government bonds issued in major foreign currencies like the dollar, euro or yen - the deputy head of the country's debt office said on Wednesday.
Redwood Trust Inc (RWT): * REDWOOD TRUST ANNOUNCES OFFERING OF CONVERTIBLE SENIOR NOTES DUE 2024. * Redwood Trust Inc (RWT) - PLANS TO OFFER $200.0 MILLION AGGREGATE PRINCIPAL AMOUNT OF CONVERTIBLE SENIOR NOTES DUE 2024 IN AN UNDERWRITTEN PUBLIC OFFERING.
A lawsuit has been filed on behalf of Beata Mariana de Jesus Mejia-Mejia, an asylum seeker, by Nexus Derechos Humanos Attorneys, an Atlanta Human and Civil Rights Pro Bono Law firm funded by Nexus Services, Inc. Mejia, who turned herself into border patrol was separated from her seven-year-old son and was placed in detention until she secured an immigration bond.
A.M. Best has assigned a Financial Strength Rating of C- and a Long-Term Issuer Credit Rating of ccc- to United Security Assurance Company of Pennsylvania . The outlook assigned to these Credit Ratings is stable.
ShaMaran Petroleum Corp (SHASF): * SHAMARAN SUCCESSFULLY PLACES US$ 240 MILLION BOND. * SHAMARAN PETROLEUM (SHASF) - NEW BONDS HAVE FIVE YEAR MATURITY WITHOUT AMORTIZATION Source text for Eikon: Further company coverage:
Bayer AG: * SAYS CONCLUDES REFINANCING OF THE MONSANTO ACQUISITION BY PLACING BONDS WITH A VOLUME OF 5 BILLION EUROS. * SAYS ISSUE OF FOUR TRANCHES WITH MATURITIES OF 4 TO 11½ YEARS WAS MORE THAN FOUR TIMES OVERSUBSCRIBED Further company coverage:
A.M. Best has upgraded the Long-Term Issuer Credit Rating to "bbb+" from "bbb" and affirmed the Financial Strength Rating of B++ of Farmers Insurance Company of Flemington . The outlook for these Credit Ratings remains stable. The ratings reflect FCIFs strong balance sheet strength, as well as adequate operating performance, limited business profile and appropriate enterprise risk management.
Regulatory News: Novacyt , an international specialist in clinical diagnostics, announces the conversion of the 4.0m unsecured, anti-dilutive debt facility from a French institutional investor, into an unsecured Convertible Bond further to the announcement on 30 May 2018.
Goldman Sachs BDC, Inc. (GSBD) announced today that Fitch Ratings has assigned the Company an investment grade rating of BBB-; the rating outlook is stable. We are pleased to receive an investment grade rating from Fitch, which we believe reflects both the quality of GSBDs investment portfolio and the strength of Goldman Sachs Asset Managements platform.
GCI Liberty, Inc. (GLIBA) announced today that it has closed its previously announced private offering of $477.25 million aggregate original principal amount of its 1.75% exchangeable senior debentures due 2046, including debentures with an aggregate original principal amount of $62.25 million issued pursuant to the exercise of an option granted to the initial purchasers.
Chaparral Energy Inc (CHPE): * CHAPARRAL ENERGY ANNOUNCES $300 MILLION SENIOR NOTES OFFERING. * CHAPARRAL ENERGY (CHPE) - INTENDS TO USE NET PROCEEDS FROM OFFERING TO PAY DOWN OUTSTANDING BALANCE OF ITS REVOLVING CREDIT FACILITY. * Chaparral Energy Inc (CHPE) - INTENDS TO OFFER $300 MILLION OF SENIOR UNSECURED NOTES DUE 2023 Source text for Eikon: Further company coverage:
LONDON, June 18, 2018 Avon Products, Inc. (AVP), a globally recognized leader in direct selling of beauty and related products, today announced the early redemption of the remaining March 2019 bonds.
Chaparral Energy, Inc. (CHPE) announced today that it intends to offer $300 million of senior unsecured notes due 2023 to eligible purchasers, subject to market conditions and other factors.
Cowen Inc. announced today the underwriters for the recently completed public offering of the Companys 7.75% senior notes due 2033 exercised in full their option to purchase an additional $10.0 million aggregate principal amount of the 2033 Notes on June 13, 2018.
The European Investment Bank has mandated HSBC Holdings PLC (HSBC), NatWest Markets, RBC CM and TD Securities to explore an opportunity to launch a benchmark floating-rate note denominated in British pounds, one of the lead-manager banks said Monday in a deal announcement. The note would be linked to SONIA, the effective reference overnight rate for unsecured transactions in the sterling market. The issuance would likely be launched and priced in the near future, subject to market...
Nordic American Tanker Ltd: * NORDIC AMERICAN TANKER LTD SAYS HAVE NOW DECIDED THAT IT IS NOT IN THE BEST INTEREST OF NAT SHAREHOLDERS TO CONDUCT A BOND OFFERING Source text for Eikon: Further company coverage:
Hamilton, Bermuda, June 18, 2018. To shareholders and investors, In the course of the last nine months, the financial position of NAT has changed much to the better. We have now decided that it is not in the best interest of NAT shareholders to conduct a bond offering.
Autoliv Inc (ALV): * ANNOUNCED THAT IT HAS PRICED A 5-YEAR BOND OFFERING OF EUR 500 MILLION IN EUROBOND MARKET. * NOTES ARE DUE TO BE ISSUED ON JUNE 26 AND WILL CARRY A COUPON OF 0.75% Source text for Eikon: Further company coverage:
STOCKHOLM, June 18, 2018 Autoliv, Inc. (ALV) and, today announced that it has priced a 5-year bond offering of EUR 500 million in the Eurobond market. Autoliv (ALV) expects to use the net proceeds from the offering of the notes for general corporate purposes, which may include forming part of the expected cash transfer to Veoneer ahead of the spin-off of Veoneer.
Autoliv Inc (ALV): * AUTOLIV PRICES EUR 500 MILLION BOND ISSUE. * THE NOTES ARE DUE TO BE ISSUED ON JUNE 26 AND WILL CARRY A COUPON OF 0.75% Source text for Eikon: Further company coverage:
A.M. Best has removed from under review with negative implications and downgraded the Long-Term Issuer Credit Rating to c from b- of Atlas Financial Holdings, Inc. (AFH) [NASDAQ: AFH], the Financial Strength Rating to C from B and the Long-Term ICRs to ccc from bb of American Service Insurance Company Inc. , American Country Insurance Company and Gateway Insurance Company, collectively refer...
A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of a+ for most of the operating subsidiaries of PartnerRe Ltd. Concurrently, A.M. Best has upgraded the Long-Term ICR to a+ from a and affirmed the FSR of A of PartnerRe Life Reinsurance Company of Canada and PartnerRe Life Reinsurance Company ...
A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Ratings of bbb+ of Hartford Life Insurance Company and Hartford Life and Annuity Insurance Company (collectively referred to as Talcott Resolution Group . Additionally, A.M. Best has removed from under review with developing implications and af...
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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