Hello uptiers, trapdoors, dropdowns, and double dips
And changing its nature in the process
Holders of bonds maturing next year aggrieved that proposal ‘does not respect temporal priority’
At an index level things look very loose, but under the surface it’s more of a ‘mixed bag’
Loss of investment-grade status for utility’s safer debt could increase regulatory scrutiny and flood high yield market with bonds
Pluralsight lender group marked debts at seemingly implausible highs
Gap between borrowing costs of most and least risky debt widens as traders fret over impact of high US interest rates
First-half activity boosted by companies bringing forward deals to avoid pre-election market volatility
Holders of senior notes backed by UK shopping centres, German housing units and French offices to be hit, say analysts
Borrowers benefit from equivalent of two Fed rate cuts as demand for debt booms
Company’s convertible bond issuance in 2021 feels like ancient history
Yields are tempting investors who would usually focus more on equities
And default divergence
Securities backing single commercial buildings are popular with investors but several have failed to live up to top ratings
Public and private markets are seeing big changes that provide new options for investors
Sustainable debt raises $273bn in first quarter, in contrast to downturn in ESG stock funds
Issuers encouraged by ready pool of specialist hedge fund buyers for hybrid debt
Avid Bioservices made a blunder
Launches of vehicles that scoop up risky loans top €22bn in first five months of the year
Weak aeroplane delivery figures this week could deliver another blow to its credit outlook
Popular maker of foot-long deli heroes will use proceeds to pay down acquisition debt
Issuance of debt linked to companies’ climate promises has fallen but green bond market proves robust
Proportion of investment-grade companies at risk of falling to junk now exceeds those likely to be upgraded
It’s time to look again at fixed income
French lenders Crédit Agricole and BNP shift policy as scrutiny heightens on green finance
