IFR Archives - ׶Ƶ Know More. Risk Better.® Thu, 14 Sep 2023 14:21:25 +0000 en-US hourly 1 /wp-content/uploads/cropped-favicon-512x512-1-32x32.png IFR Archives - ׶Ƶ 32 32 Vedanta mulls refinancing plan https://www.ifre.com/story/4093853/vedanta-mulls-refinancing-plan-v8qr0pbrgw#new_tab Thu, 14 Sep 2023 14:21:25 +0000 /?p=14335 Vedanta Resources’ U.S. dollar bonds fell last week on concerns over a potential restructuring.

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]]> Vedanta Resources’ U.S. dollar bonds fell last week on concerns over a potential restructuring.

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]]> Property fears spook HK bonds https://www.ifre.com/story/4089207/property-fears-spook-hk-bonds-lfv8l7z8c8#new_tab Tue, 05 Sep 2023 13:56:07 +0000 /?p=14101 Fears around the China property sector are spilling into Hong Kong.

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]]> Fears around the China property sector are spilling into Hong Kong.

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]]> Enbridge returns to SLB market amid emissions concerns https://www.ifre.com/story/3793500/enbridge-returns-to-slb-market-amid-emissions-concerns-znsssfdd2v#new_tab Thu, 16 Mar 2023 19:31:25 +0000 /?p=12282 Enbridge’s involvement in oil sands, one of the most contaminating forms of oil extraction, and controversial pipeline projects are still failing to convince ESG investors. The company pledged this month...

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]]> Enbridge’s involvement in oil sands, one of the most contaminating forms of oil extraction, and controversial pipeline projects are still failing to convince ESG investors. The company pledged this month to invest US$2.42bn this year in natural gas and liquids infrastructure and renewable power, US$1bn of which has been earmarked for a biogas waste-to-energy company.
Charles Johnston, a senior analyst at ׶Ƶ, said Enbridge’s longstanding investments in renewable technologies made it a well-suited SLBcandidate.
In addition, he said it is very difficult to hold midstream energy companies accountable for Scope 3 emissions that are produced indirectly in avalue chain.

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]]> HSBC adds euros to bond market raid as Lloyds plumps for dollars https://www.ifre.com/story/3785227/hsbc-adds-euros-to-bond-market-raid-as-lloyds-plumps-for-dollars-gwhm0mbqpx#new_tab Mon, 06 Mar 2023 18:31:28 +0000 /?p=11644 Analysts at ׶Ƶ said they would see a coupon of over 8% as offering fair value.

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]]> Analysts at ׶Ƶ said they would see a coupon of over 8% as offering fair value.

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]]> APAC default risk remains high https://www.ifre.com/story/3561038/apac-default-risk-remains-high-yyn7tpsfwq#new_tab Fri, 21 Oct 2022 18:43:37 +0000 /?p=10276 Zerlina Zeng, a senior research analyst at ׶Ƶ, also expects default rates among high-yield issuers in Asia ex-Japan to continue to trend upward towards year-end. In addition to default risks...

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]]> Zerlina Zeng, a senior research analyst at ׶Ƶ, also expects default rates among high-yield issuers in Asia ex-Japan to continue to trend upward towards year-end. In addition to default risks in China’s property, investors in the region are also watching potential corporate governance issues in areas like Indian and Indonesia high yield, said Zeng.

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]]> High-yield issuers may have missed the boat https://www.ifre.com/story/3508929/high-yield-issuers-may-have-missed-the-boat-v82jcntmkl#new_tab Thu, 08 Sep 2022 17:44:29 +0000 https://creditsights.adstablish.com/?p=9755 ׶Ƶ Mark Chapman and Alex Lawrence said in note Iliad could opportunistically come to market and that exposure to the firm could be very attractive for investors. They see issuance...

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]]> ׶Ƶ Mark Chapman and Alex Lawrence said in note Iliad could opportunistically come to market and that exposure to the firm could be very attractive for investors. They see issuance in the coming months as “more-likely-than not” as long as reasonable new issue economics can be achieved.

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]]> No let-up in Yankee supply as BNP prints US$2bn AT1 https://www.ifre.com/story/3469654/no-let-up-in-yankee-supply-as-bnp-prints-us2bn-at1-fxmr0z690z#new_tab Mon, 08 Aug 2022 14:38:42 +0000 /?p=8637 As of the end of Q2, the bank held AT1 capital equivalent to 1% of its risk weighted assets, which analysts at ׶Ƶ said is below its optimal level of...

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]]> As of the end of Q2, the bank held AT1 capital equivalent to 1% of its risk weighted assets, which analysts at ׶Ƶ said is below its optimal level of 1.76%.

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]]> Big US banks hit bond primary https://www.ifre.com/story/3445326/big-us-banks-hit-bond-primary-zphsqpnyfw#new_tab Mon, 18 Jul 2022 18:21:10 +0000 /?p=8378 With the bank’s fixed-income trading revenues still showing rapid year-over-year growth in the second-quarter, the timing of Morgan Stanley’s bond deal could indicate the investment bank sees opportunities for growth...

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]]> With the bank’s fixed-income trading revenues still showing rapid year-over-year growth in the second-quarter, the timing of Morgan Stanley’s bond deal could indicate the investment bank sees opportunities for growth in it trading division, said ׶Ƶ analysts.

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]]> Celanese lands US$7.5bn jumbo bond for M&A https://www.ifre.com/story/3433218/celanese-to-price-six-part-ma-bond-thursday-dyybfszylg#new_tab Thu, 07 Jul 2022 18:31:23 +0000 /?p=8384 ׶Ƶ said price thoughts on the offering had come wide to comparably rated peers like International Flavors & Fragrances, and was in line with crossover issuers like Braskem.

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]]> ׶Ƶ said price thoughts on the offering had come wide to comparably rated peers like International Flavors & Fragrances, and was in line with crossover issuers like Braskem.

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]]> State-driven deals underwhelm https://www.ifre.com/story/3380344/state-driven-deals-underwhelm-nxvskqsx6x#new_tab Fri, 27 May 2022 19:16:13 +0000 /?p=8050 The deal sizes were also small, as onshore corporate bond issues tend to top Rmb500m. The average size of onshore bond issues by developers in the first quarter was Rmb1.5bn,...

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]]> The deal sizes were also small, as onshore corporate bond issues tend to top Rmb500m. The average size of onshore bond issues by developers in the first quarter was Rmb1.5bn, according to Luther Chai, a senior analyst from ׶Ƶ. Country Garden sold a 6.3% Rmb1bn four-year bond in December and Longfor raised a total of Rmb2.8bn from two tranches one month later.

The recent deals were just a drop in the bucket compared to the US$31bn of offshore debt Chinese developers have maturing or becoming puttable by the end of the year, according to ׶Ƶ.

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