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Investors who bought the Italian utility’s bonds are getting a handsome return
For now . . . .
Lower demand for risky corporate debt could threaten companies’ ability to refinance
Rates look like they are nearing a top and yields will ease next year
Yes yes yes we know… but?
Investors nibble on debt of companies less exposed to economic slowdown but avoid riskier groups
Net inflows of $111.5bn were triple that of September and the highest since March
Deep discounts to offload bonds and loans in software maker’s LBO cost banks $600mn
Deal reflects difficulties raising funds as the economy turns and interest rates climb
Promise of high returns lures nervous investors to €350mn deal from Italy’s biggest gambling company
Is the market reflecting optimism about the economy? Or something else?
Low demand for bonds and loans is Wall Street ‘canary’ as inflation risks rock capital markets
Wall Street lenders expected to generate significant losses after agreeing to fund deal before economic slowdown
Rate rises and recession fears lift costs for riskier borrowers
Amount of debt trading at distressed levels tumbles at unprecedented pace
Truckmaker borrows €500mn, a rare case of raising funds at a time when deals have dried up far beyond the summer norm
US telecom company’s market worth has fallen to under $100mn, squashed by $3bn of debt
Companies abandon plans to issue debt at the last minute as investors demand higher returns
Finally, corporate debt is looking a more attractive alternative for investors
Foreign investors fear Beijing will favour onshore creditors as Shimao Group becomes latest to default
Rating agency S&P warns of ‘increasingly murky outlook’ for region’s credit market
Debt of highly rated companies is trading at steep discounts
Bruising week for managers as fears intensify over a global downturn
Vast asset purchase scheme had damped volatility and pushed down yields for higher-grade debt