“Despite our concerns about Pemex’s stand-alone credit profile and lack of a credible medium-term financial strategy, we do expect the federal government to continue to provide necessary support,” said CreditSights…
A yield of 1.8% implies a sub/senior spread of around 167bp, relatively tight for telecoms sector hybrid issuers, according to CreditSights analysts. “However, Orange’s defensive nature leaves us more willing…
Analysts at research firm CreditSights would not be buyers of any of last week’s paper after tightening and prefer Pernod’s higher-rated, UK-based competitor Diageo – the maker of brands such…
In the second quarter, Gilead reported some US$8.6bn of free cashflow over the last 12-month period (down 10% year-on-year), according to CreditSights. The company has no bonds maturing this year…
“We had expected T-Mobile to be proactive refinancing its higher coupon HY debt given the potential for material interest savings,” research firm CreditSights noted in a report.
The use of proceeds is believed to be a first of its kind in the capital markets, where Bank of America has taken a leading role in both the size…
CreditSights saw fair value at around 120bp over Treasuries on the new 11NC10s, comparing them to the existing 2.592% April 2031s, which had been trading at plus 118bp the previous…
Credit rating agencies seem to have been caught off guard by the size of the new bond deal, which increases Boeing’s debt load significantly, but CreditSights said it expects the…