Regulatory News: International Flavors & Fragrances Inc. (IFF), a leading innovator of sensorial experiences that move the world, today announced that it has priced its public offering of $300,000,000 aggregate principal amount of its 3.400% senior notes due 2020, $400,000,000 aggregate principal amount of its 4.450% senior notes due 2028 and $800,000,000 aggregate principal amount of its 5.000% seni...
PHILADELPHIA, Sept. 24, 2018 Aberdeen Income Credit Strategies Fund1, a closed-end bond fund, announced today its performance data and portfolio composition as of August 31, 2018. August 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, Sept. 24, 2018 Aberdeen Global Income Fund, Inc. (FCO), a closed-end bond fund, announced today its performance data and portfolio composition as of August 31, 2018. August 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.
Conifer Holdings, Inc. (CNFR) , today announced that it has closed its previously announced public offering of $22.0 million aggregate principal amount of 6.75% Senior Unsecured Notes due 2023. Boenning & Scattergood, Inc. acted as sole book-running manager for the offering, and American Capital Partners, LLC acted as co-manager.
Tallgrass Energy LP (TGE): * TALLGRASS ENERGY PRICES OFFERING OF $500 MILLION OF 4.75% SENIOR NOTES. * UNITS PRICED OFFERING OF $500 MILLION OF 4.75% SENIOR UNSECURED NOTES DUE 2023 AT AN OFFERING PRICE EQUAL TO 100% OF PAR Source text for Eikon: Further company coverage:
Tallgrass Energy (TGE), LP announced today that its subsidiaries Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. priced an offering of $500 million in aggregate principal amount of 4.75% senior unsecured notes due 2023 at an offering price equal to 100% of par. The offering is expected to close September 26, 2018, subject to satisfaction of customary closing conditions.
Hoist Finance AB: * HOIST FINANCE AB ISSUES EUR250 MILLION SENIOR NOTES AND ANNOUNCES FINAL RESULTS OF TENDER OFFER. * ISSUANCE OF NEW EUR 250M 4.5-YEAR SENIOR UNSECURED NOTES AT M/S+250BP UNDER ITS EMTN-PROGRAMME Source text for Eikon: Further company coverage:
Moodys Investors Service communicated today that it has affirmed its Corporate Family Rating on Fiat Chrysler Automobiles N.V. (FCAU) at Ba2 and it has improved the outlook to positive from stable. London, September 24, 2018. Attachment Image: logo.png.
Tallgrass Energy LP (TGE): * TALLGRASS ENERGY ANNOUNCES OFFERING OF $400 MILLION OF SENIOR NOTES. * Tallgrass Energy LP (TGE) - INTEND TO OFFER $400 MILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2023 IN A PRIVATE PLACEMENT.
Tallgrass Energy (TGE), LP announced today that, subject to market conditions, its subsidiaries Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. intend to offer $400 million aggregate principal amount of senior unsecured notes due 2023 in a private placement to eligible purchasers.
Compagnie de Saint-Gobain SA. Issue of EUR 300,000,000 FRN Senior unsecured. Notes due 25 June 2020 series 39. Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. INTEREST AMT PER DENOM. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. EUR 100,000.00 IS EUR 0. POOL FACTOR.
OKLAHOMA CITY, Sept. 24, 2018 Ascent Resources Utica Holdings, LLC announced today that it, with its wholly-owned subsidiary, ARU Finance Corporation, intends to offer $600 million in aggregate principal amount of senior unsecured notes due 2026 in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended.
* "Zombies" have low profitability & productivity, high debt. * Number of zombie firms has increased since 80s. * Zombie firms survive for longer in low rate environment. By Helen Reid.
Decades of falling interest rates have led to a sharp increase in the number of "zombie" firms, a report for the Bank for International Settlements said, potentially threatening economic growth and preventing interest rates from rising.
S&P Global Ratings: * S&P SAYS SPAIN 'A-/A-2' RATINGS AFFIRMED; OUTLOOK POSITIVE. * S&P SAYS EXPECT THAT SPAIN'S GDP WILL CONTINUE TO EXPAND FASTER THAN THE EUROZONE AVERAGE OVER 2018-2021. * S&P SAYS DESPITE RECENT RESTATEMENT OF BUDGETARY GOALS, GOVERNMENT DEFICIT IS TRENDING DOWNWARD & SPAIN CONTINUES TO RUN CURRENT, CAPITAL ACCOUNT SURPLUSES.
* MOODY'S SAYS CHANGES OUTLOOK ON MONTENEGRO'S RATING TO POSITIVE, AFFIRMS B1 RATING. * MOODY'S SAYS HAS CHANGED OUTLOOK ON THE GOVERNMENT OF MONTENEGRO'S B1 LONG-TERM ISSUER AND SENIOR UNSECURED DEBT RATINGS TO POSITIVE FROM STABLE. * MOODY'S SAYS FACTORS SUPPORTING THE RATING AFFIRMATION INCLUDE MONTENEGRO'S ELEVATED WEALTH AND STRONG INSTITUTIONS COMPARED TO SIMILARLY RATED PEER.
Two major holders of Puerto Rico bonds that opposed a restructuring deal for the bankrupt U.S. commonwealth's Sales Tax Financing Corporation revenue bonds are now part of the agreement, the island's federally appointed oversight board announced on Friday.
Marble Ridge Capital LP: * MARBLE RIDGE CAPITAL LP SENDS LETTER TO NEIMAN MARCUS GROUP BOARD CHALLENGING THE VALIDITY OF SELF-INTERESTED ASSET TRANSFERS AND ASSERTING COMPANY IS IN DEFAULT UNDER BOND INDENTURES. * MARBLE RIDGE - POTENTIAL SALE OF MYTHERESA, PREMIER REAL ESTATE OWNED BY NEIMAN MARCUS WOULD GENERATE PROCEEDS THAT COULD REDUCE ITS INDEBTEDNESS.
A.M. Best has downgraded the Financial Strength Rating to B from B++ and the Long-Term Issuer Credit Rating to bb+ from bbb+ of North American Title Insurance Company. The downgrade of the ratings takes into consideration the $60 million dividend taken by NATIC in the third quarter of 2018 and its consequential detrimental effect on the companys risk-adjusted capitalization.
A.M. Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of bbb+ of ECICS Limited . The outlook of the Long-Term ICR has been revised to negative from stable, while the FSR outlook remains stable.
A.M. Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Rating of aa+ of Samsung Fire & Marine Insurance Co., Ltd. . Concurrently, A.M. Best has affirmed the FSR of A and the Long-Term ICR of a of SFMs wholly owned subsidiary, Samsung Reinsurance Pte.
Honeywell International Inc (HON): * GARRETT MOTION INC. PRICES OFFERING OF SENIOR NOTES. * HONEYWELL (HON) - AGGREGATE PRINCIPAL AMOUNT OF NOTES TO BE ISSUED BY GARRETT REFLECTS A DECREASE OF EUR 100 MILLION FROM TIME OF LAUNCH. * HONEYWELL (HON) - UNIT PRICED A PRIVATE OFFERING OF EUR 350 MILLION OF SENIOR NOTES DUE 2026.
A.M. Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of a- of Oil Casualty Insurance, Ltd. A.M. Best also has affirmed the Long-Term Issue Credit Rating of bbb on the $200 million 8.00% deferrable subordinated debentures due Sept. 15, 2034.
MORRIS PLAINS, N.J., Sept. 21, 2018 Honeywell International Inc. announced that, in connection with the previously announced spin-off of Garrett Motion Inc. from Honeywell (HON), Garrett LX I S.à r.l. and Garrett Borrowing LLC, wholly owned subsidiaries of Garrett, have priced a private offering of 350 million aggregate principal amount of senior notes due 2026.
NEW YORK, Sept. 21, 2018 Marble Ridge Capital LP, a value-oriented distressed debt investment firm, today reported it has sent a letter to the Board of Directors of the Neiman Marcus Group Ltd LLC expressing concern that the company may be in default under its Indentures.
Investors often turn to corporate-bond markets for early warning of trouble, and currently find reassurance that all is well. But look closer and the real message is that hidden risks are building. The next downturn could be more painful than usual for creditors, with knock-on effects for shareholders.
S&P Global Ratings said on Friday it maintained its 'A+/A-1' rating on the People's Republic Of China, citing its view of the government's reform agenda, growth prospects and strong external metrics.
S&P Global Ratings: * S&P SAYS PEOPLE'S REPUBLIC OF CHINA RATING AFFIRMED AT 'A+/A-1'; OUTLOOK STABLE. * S&P ON CHINA - POLICY CHANGES HAVE HELPED TO REIN IN CREDIT GROWTH AND REDUCE THE RELIANCE OF ECONOMIC GROWTH ON PUBLIC INVESTMENT. * S&P SAYS STABLE OUTLOOK REFLECTS VIEW THAT CHINA WILL MAINTAIN ITS ROBUST HEADLINE GDP GROWTH, IMPROVED FISCAL PERFORMANCE IN NEXT THREE TO FOUR YEARS.
Nidec Corporation today announced that it has decided the terms of inaugural senior unsecured bonds denominated in Euro in the overseas securities markets. This press release has been prepared for the sole purpose of publicly announcing the Companys issuance of the Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan.
Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, announced today that it has priced a public offering of $2.0 billion aggregate principal amount of senior notes consisting of the following: The offering is expected to close September 25, 2018, subject to customary closing conditions.
Regulatory News: International Flavors & Fragrances Inc. (IFF), a leading innovator of sensorial experiences that move the world, today announced that it has priced its public offering of 300,000,000 aggregate principal amount of its 0.500% senior notes due 2021 and 800,000,000 aggregate principal amount of its 1.800% senior notes due 2026.
A.M. Best has upgraded the Financial Strength Rating to A+ from A and the Long-Term Issuer Credit Ratings to aa- from a+ of American Strategic Insurance Corp and certain affiliates. The ratings reflect ASIs balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.
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 Wayne Cooperative Insurance Company. The ratings reflect Wayne Cooperatives balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Warrior Met Coal, Inc. today announced that Moodys Investors Service has upgraded its Corporate Family Rating to B2 from B3 with a Stable Outlook. According to Moodys, the upgrade reflects the Companys strong financial performance including free cash flow generation, strong met coal prices, low financial leverage and changes in the Companys shareholder base.
Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, announced today that it had commenced a public offering of its senior notes, subject to market and other conditions.
MADISON, Wis. About Alliant Energy Alliant Energy Corporation's Iowa utility subsidiary, Interstate Power and Light Company, utilizes the trade name of Alliant Energy (LNT). Forward-Looking Statements This press release includes forward-looking statements.
Glencore PLC (GLCNF) said Thursday that its subsidiary Glencore Funding LLC has successfully placed $125 million in new bonds in a tap-issue, to be consolidated with an earlier bond placing. The Anglo-Swiss miner and commodities trader issued $500 million in cash-settled convertible bonds in March, with a settlement date of March 27, 2025.. The new bonds, offered via an accelerated book-building process, will be issued on the same terms as those issued in March, Glencore (GLCNF) said.
Japan Tobacco Inc (JAPAF): * JT INTERNATIONAL FINANCIAL SERVICES TO ISSUE BONDS OVERSEAS. * UNIT TO ISSUE ABOUT $1 BILLION WORTH OF DOLLAR-DENOMINATED BONDS, 550 MILLION EUROS IN EURO BONDS, 400 MILLION GBP IN STERLING BONDS Further company coverage:
Conifer Holdings Inc (CNFR): * CONIFER HOLDINGS, INC. ANNOUNCES PRICING OF $22 MILLION SENIOR UNSECURED NOTES OFFERING. * HAS PRICED A PUBLIC OFFERING OF $22.0 MILLION AGGREGATE PRINCIPAL AMOUNT OF 6.75% SENIOR UNSECURED NOTES DUE 2023 Source text for Eikon: Further company coverage:
Conifer Holdings, Inc. (CNFR) , today announced that it has priced a public offering of $22.0 million aggregate principal amount of 6.75% Senior Unsecured Notes due 2023, at a public offering price of 100% of the aggregate principal amount. Boenning & Scattergood, Inc. is acting as sole book-running manager for the offering, and American Capital Partners, LLC is acting as co-manager.
Fortune Brands Home & Security Inc (FBHS) : * FORTUNE BRANDS PRICES $600 MILLION BOND ISSUE. * FORTUNE BRANDS HOME & SECURITY (FBHS) - PRICED REGISTERED PUBLIC OFFERING OF $600 MILLION PRINCIPAL AMOUNT OF 4.000% SENIOR UNSECURED NOTES MATURING IN 2023.
Fortune Brands Home & Security, Inc. (FBHS), an industry-leading home and security products company, announced that today it priced a registered public offering of $600 million aggregate principal amount of 4.000% senior unsecured notes maturing in 2023.
A.M. Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of aa- of the main rated insurance subsidiaries of Zurich Insurance Group Ltd . These companies are collectively referred to as Zurich group.
A.M. Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of aa- of SCOR SE and its main operating subsidiaries. The ratings reflect SCORs balance sheet strength, which A.M. Best categorises as very strong, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
Regulatory News: NOXXON Pharma N.V. , a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment, announced today that the previously disclosed convertible bonds have been listed on the Euronext Access market in Paris as notes convertible into NOXXON shares.
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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