However, the underperformance of municipals relative to taxables is drawing interest from investment grade credit investors seeing the opportunity to add tax-exempt municipal credit to their portfolios without having to…
The trade offers sterling investors a quality euro utility name, wrote CreditSights analysts, who saw fair value at around 120bp–125bp and looked to receive concessions of 10bp–15bp. The analysts expect…
“Since these bonds are secured by two specific projects, prospective investors will have an added surveillance burden, although the involvement of Assured Guaranty means that investors will indirectly benefit from…
“While many retail investors are reducing their mutual fund positions, relative value investors are putting money to work, and we believe that part of that money is finding its way…
The beginning of the calendar year is normally sluggish, but due to market volatility and issuer worries over rate volatility, supply was notably sparse in January and February. Issuance typically…
Since the start of the year, 81 primary bond deals from LGFVs have been priced in the Asia dollar market, raising a combined $11.5bn, according to CreditSights.
The transaction would give Gulfport, which was fresh out of bankruptcy proceedings in 2021, more scale by combining its Ohio operations with neighbor Ascent, said Charles Johnston, senior high yield…
“The island is overloaded with debt and pension liabilities that dwarf its tiny $4 billion economy, and with liquidity thin, it could use the budget relief,” noted CreditSights in a Friday report….
Institutional bids wanted volume on Bloomberg was the heaviest since the week ended April 3, 2020. The total par amount out for the bid was $6.3 billion, more than double…
“The aid has enabled Puerto Rico’s economy to perform much better post-Maria period than it did in the 12 years leading up to the storm,” said CreditSights Senior Municipals Analyst John Ceffalio….