"Cbonds Global" Telegram Channel

Topics from channel:

"Cbonds Global" Telegram Channel

Channel address: @cbondsglobal
Categories: Economics
Language: English
Number Of Subscribers: 1678 (Update date: 2021-06-13)
Description from channel

International Bond News

📑Advertising: [email protected]

Transitions to the channel: 0 ( 19 )

The latest Messages

2021-06-11 16:57:00 💰Largest HY issues of June 10

Issue | Volume

🇫🇷France
Derichebourg (-/BB/-), 2.25% 15jul2028, EUR | 300 mln
Listing: Luxembourg S.E.
Bookrunner: BNP Paribas, CM-CIC AM, Societe Generale
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

🇨🇦Canada
Frontera Energy (-/B+/B), 7.875% 21jun2028, USD | 400 mln
Initial issue price (yield): 99.34%
The purpose of placing: General Corporate Purposes Refinance
Listing: Luxembourg S.E.
Bookrunner: Citigroup, Credit Suisse, Itau Unibanco Holdings
Depository: Clearstream Banking S.A., Euroclear Bank, Federal Reserve System

🇺🇸USA
SM Energy (B2/B-/-), 6.5% 15jun2028, USD | 400 mln
Initial issue price (yield): 100%
The purpose of placing: To fund the Tender Offer of all of the Company’s outstanding 6.125% Senior Notes due 2022 and $130.0 million of Company’s outstanding 5.00% Senior Notes due 2024, and for general corporate purposes, which may include the repurchase or redemption, as applicable, of some or all of the Tender Offer Notes.
Bookrunner: BOK Financial Corporation, Bank of Montreal, Bank of Nova Scotia, Barclays, BofA Securities, Capital One Financial Corporation, Comerica, Goldman Sachs, JP Morgan, KeyBanc Capital Markets, PNC Bank, RBC Capital Markets, U.S. Bancorp, Wells Fargo
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

🔎BOND SEARCH
152 viewsedited  
Open / Comment
2021-06-11 16:41:26 💰Largest EM issues of June 10

Issue | Volume

🇭🇰Hong Kong
Bocom Leasing Management Hong Kong (A3/A-/A), 1.125% 18jun2024, USD | 500 mln
Listing: Hong Kong S.E.
Bookrunner: ANZ, Agricultural Bank of China, BNP Paribas, Bank of Communications, China Merchants Bank, HSBC, Haitong International Securities Group, Mizuho Financial Group, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

🇬🇪Georgia
Georgian Railway (-/B+/BB-), 4% 17jun2028, USD | 500 mln
Initial issue price (yield): 100% (4.88%)
The purpose of placing: To finance tender offer for existing 7.75% 11jul2022, USD notes and projects covered by the issuer’s green bond framework
Listing: London S.E.
Bookrunner: Citigroup, JP Morgan, Renaissance Capital, TBC Capital
Depository: Clearstream Banking S.A., Euroclear Bank

🔎BOND SEARCH
137 views
Open / Comment
2021-06-11 15:59:33
Picture 1 from Cbonds Global 2021-06-11 15:59:33
🇨🇳China Evergrande’s dollar bonds plunged on Thursday due to a growth of concerns over the company's financial position. Bondholders are continuing to exit frightened by missed payments at the developer’s branches and a report that regulators are investigating company’s ties to an obscure bank in northern China.

Previously, we reported that bonds of China Evergrande plunged as the China Banking and Insurance Regulatory Commission was examining over CNY 100 billion of transactions between the company and Shengjing Bank Co (owner of the huge amount of the company's bonds). 
In 2019, Evergrande increased its stake in Shengjing Bank by using proceeds from its bonds. At that time, Chinese law required investors to use only own funds to invest in banks, not borrowed. 

10% 11apr2023, USD bond fell from 84.341% (June 9) to 79.471% (May 28). 9.5% 11apr2022, USD note slid from 92.01% (June 9) to 86% (June 10). The price figures correspond to the latest data of the Frankfurt Stock Exchange.
153 views
Open / Comment
2021-06-11 15:46:58 📃Upcoming issue

Issuer: Wipro (Wipro IT Services)

Issue description: up to $750 million of US dollar denominated notes  

Date: soon 

Aim: refinancing existing debt, general corporate purposes
149 views
Open / Comment
2021-06-11 13:49:35
Picture 1 from Cbonds Global 2021-06-11 13:49:35
🇸🇻The International Monetary Fund said on Thursday it has economic and legal concerns regarding the move by El Salvador to make bitcoin a parallel legal tender, further clouding the outlook for an IMF-backed program and widening spreads on the country's bonds.

Source: Reuters

The 6.375% 18jan2027, USD bond continued falling. The indicative price declined from 96.18% (June 10) to 94.335% (June 11).
175 views
Open / Comment
2021-06-11 12:58:18 📈#CbondsAnalytics

Lenovo–Rating revision, Robust performance to be Credit Positive

In June 2021, Moody’s revised the Lenovo group’s rating outlook to positive, and the rating was affirmed at Baa3. The company posted strong performance on all fronts in the financial year 2021.
• Lenovo displayed a positive outlook for business and future earnings,it also deleveraged its balance sheet in the previous year. Cost of funds are expected to be lower.
• Lenovo’s share price is down 12% over the last month, to HKD 9 levels on the Hong- Kong stock exchanges.

Read on
176 views
Open / Comment
2021-06-11 12:54:04 🇨🇺The group of creditors of Cuba said on Thursday they had reached a deal to give more time to the Republic of Cuba to honor several payments due under the 2015 Arrangement, while maintaining the present value of the amounts.

Cuba, after signing an historic agreement with the group in 2015, defaulted on payments last year and only partially met them in 2019.

Source: Reuters
162 views
Open / Comment
2021-06-11 12:43:31 🔑Rating Actions in Foreign Currency on June 10, 2021

🇹🇯Moody's changed outlook on Tajikistan to stable from negative; affirmed B3 rating.
Reasons: "The outlook change to stable from negative reflects progress made by Tajikistan in stabilizing its external payments position over the past year, as indicated in a material increase in foreign currency reserves, which Moody's expects to remain around the current level. As a result, the likelihood of significant pressure on Tajikistan's credit profile from mounting external and liquidity risks has diminished," - Moody's report.

🇨🇬Fitch affirmed the Republic of Congo at 'CCC'.
176 views
Open / Comment
2021-06-11 12:22:52 🇺🇸US Treasury Securities

📉Yield Curve

UST 2Y YTM:
0.14% (🔻2 bp)
UST 5Y YTM:
0.73% (🔻2 bp)
UST 10Y YTM:
1.45% (🔻5 bp)
UST 30Y YTM:
2.15% (🔻2 bp)

📍On Thursday, May CPI data rose at its fastest pace in almost 13 years as inflation pressures continued to accelerate in the US.
The report boosted the yields but they plunged later as morning trading continued.
190 views
Open / Comment
2021-06-10 19:09:52 📃Upcoming issue

Issuer: Ascendas Real Estate Investment Trust (a-REIT)

Issue description: a €300m seven-year debut Eurobond

Date: upcoming days 

Bookrunners and Lead Managers: BNP Paribas, HSBC, MUFG and Natixis
187 views
Open / Comment
2021-06-10 18:55:01 💰Largest EM issues of June 8-9

Issue | Volume

🇨🇱Chile
Latin America Power (-/-/-), 5.125% 15jun2033, USD | 403,90 mln
Initial issue price (yield): 99.997%

🇸🇦Saudi Arabia
Saudi Arabian Oil (A1/-/A), 0.946% 17jun2024, USD | 1 000 mln
Initial issue price (yield): 100%
Spread to US Treasury bonds: 65 bp
Listing: London S.E.

Saudi Arabian Oil (A1/-/A), 1.602% 17jun2026, USD | 2 000 mln
Initial issue price (yield): 100%
Spread to US Treasury bonds: 85 bp
Listing: London S.E.

Saudi Arabian Oil (A1/-/A), 2.694% 17jun2031, USD | 3 000 mln
Initial issue price (yield): 100%
Spread to US Treasury bonds: 120 bp
Listing: London S.E.

🇭🇰Hong Kong
CNCB (Hong Kong) Investment (-/-/-), 1.44163% 15jun2022, USD | 200 mln
Initial issue price (yield): 100%

Lifestyle International Holdings (-/-/-), 4.8% 18jun2026, USD | 350 mln
The purpose of placing: General Corporate Purposes Refinance
Listing: Hong Kong S.E.
Bookrunner: JP Morgan, Standard Chartered Bank, UBS
Depository: Clearstream Banking S.A., Euroclear Bank

Pacific Century Premium Developments (-/-/-), 5.125% 18jun2026, USD | 700 mln
The purpose of placing: General Corporate Purposes Refinance
Listing: SGX
Bookrunner: BofA Securities, Credit Suisse, DBS Bank, HSBC, JP Morgan, Morgan Stanley, SMBC Nikko Capital, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

🔎BOND SEARCH
38 views
Open / Comment
2021-06-10 18:46:05 💰Largest EM issues of June 8-9

Issue | Volume

🇨🇳China
Agricultural Bank of China (Hong Kong Branch) (A1/-/-), 0.7% 17jun2024, USD | 500 mln
Listing: Hong Kong S.E.

Agricultural Bank of China (Hong Kong Branch) (A1/-/-), 1.25% 17jun2026, USD | 500 mln
Listing: Hong Kong S.E.
Bookrunner: Agricultural Bank of China, BNP Paribas, Bank of China, Bank of Communications, CCB International, CLSA, China Everbright Bank, China Merchants Bank, China Minsheng Banking, Chiyu Banking Corporation, Citigroup, Credit Agricole CIB, DBS Bank, HSBC, Haitong International Securities Group, ICBC, Industrial Bank, Mizuho Financial Group, Nanyang Commercial Bank, Shanghai Pudong Development Bank, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

China Everbright Bank (Hong Kong Branch) (-/-/-), 0.839% 15jun2024, USD | 600 mln
Listing: Hong Kong S.E.
Bookrunner: Agricultural Bank of China, Bank Of Shanghai, Bank of China, Bank of Communications, Bank of East Asia, CCB International, CITIC Securities International, CLSA, China Everbright Bank, China Industrial Securities International Financial Group, China International Capital Corporation (CICC), China Merchants Bank, China Minsheng Banking, China Securities (International) Finance, Citigroup, Guotai Junan Securities, Haitong International Securities Group, Huatai Securities, ICBC, Industrial Bank, Nanyang Commercial Bank, Natixis, Shanghai Pudong Development Bank
Depository: Clearstream Banking S.A., Euroclear Bank

🇰🇼Kuwait
Ahli United Bank K.S.C.P. (A2/-/A+), 3.875% perp., USD | 600 mln
Initial issue price (yield): 100%
The purpose of placing: Basel III Additional Tier 1
Listing: Irish S.E., Nasdaq Dubai
Bookrunner: Abu Dhabi Islamic Bank, Citigroup, HSBC, KAMCO, KFH Capital Investment Company, KIB Asset Management, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

🇦🇪United Arab Emirates
Emirates Development Bank (EDB) (-/-/AA-), 1.639% 15jun2026, USD | 750 mln
Listing: Nasdaq Dubai
Bookrunner: Emirates NBD, Goldman Sachs, ICBC, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

🇧🇷Brazil
JBS (-/BB+/BBB-), 3.625% 15jan2032, USD | 1 000 mln
Initial issue price (yield): 98.913%
The purpose of placing: General Corporate Purposes Refinance
Bookrunner: Banco BTG Pactual, Banco Bradesco, Banco Santander, Barclays, Mizuho Financial Group, XP
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

🔎BOND SEARCH
51 views
Open / Comment
2021-06-10 18:28:33
Picture 1 from Cbonds Global 2021-06-10 18:28:33
📈Revlon bonds increased as the company is reworking debt and balance sheet. The company secured a term loan of $130 with SLR Credit Solutions underwriting it from MidCap Financial. The funds will be used to refinance its debt. Currently, the company has 2 outstanding bonds of $450. 

The price of the 6.25% 1aug2024, USD bond has jumped from 40.24% (June 9) to 44.75% (June 10).
82 views
Open / Comment