Global Credit Highlights – (Friday, June 3, 2022)

Global Credit Highlights – (Friday, June 3, 2022)

In the Americas, stocks rose as market participants straggled back from the long holiday weekend and distressed investors focused increasingly on companies in the auto sector, which is bearing the brunt of component shortages and wage/commodity inflation. The high-yield market had a limited reopening, with eight deals pricing across a variety of sectors including midstream and building supplies. Talen Energy’s chapter 11 proceedings continued, with Talen Montana filing an adversary proceeding to avoid the transfer of certain asset sale proceeds to former parent PPL Corp. and Talen Energy obtaining the support of 71% of unsecured noteholders for its RSA. Chemical...

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Asia Bi-Weekly: Flight From Lockdown (May 17-31)

Asia Bi-Weekly: Flight From Lockdown (May 17-31)

Over the weekend, one of our staff members scored a victorious escape from Shanghai, where over the last 2.5 months, the only times she had been out of her apartment were for mandatory Covid tests or picking up grocery deliveries. The video clips she shot on her phone - while riding on the back of a delivery guy’s motorcycle en route to the train station - showed deserted streets, clean but empty. After a four-hour train ride, she arrived at a city in central China where she’s from originally. Upon arrival, she was shepherded into a student dormitory-turned hotel for...

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Reorg Webinar Replay Library

Reorg Webinar Replay Library

Reorg webinar replays are available to subscribers within 24 hours and are made more widely available in the following days. Our library of past webinar remains available by searching on the topic or title, but for ease we are including links to a selection of recent webinars from across our global coverage here. Asia Core Credit by Reorg Reorg Webinar Series: Liability Management Exercises by Chinese Real Estate Companies Chinese real estate companies have launched a slew of liability management exercises (LME) such as exchange offers and schemes of arrangement since the second half of 2021. The exercises were largely...

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Global Credit Highlights — (Friday, May 20 2022)

Global Credit Highlights — (Friday, May 20 2022)

Distressed Activity Gains Momentum in US, Debt Talks Develop in Europe as Primary Markets Hiccup; Underwriters Offer Credit Enhancement for Chinese Developers’ New Bond Issues, India’s Stalling IPO Market Generates Direct Lending Opportunities Reorg’s editorial leadership has selected the following list of the most compelling and topical situations and distressed activity across our global coverage universe. For any suggestions please email us at questions@reorg.com. In the Americas, distressed activity is gaining momentum, with an increasing number of companies looking to reset their capital structures amid rising inflation, near-record fuel and commodity prices and ongoing supply chain constraints resulting from the...

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Reorg Asia Credit Daily — China (Friday, May 20 2022)

Reorg Asia Credit Daily — China (Friday, May 20 2022)

Reorg Asia Credit Daily -- China  China Bonds Up as Mortgage Reference Rate Cut Chinese real estate high-yield prices rallied with the overall sector up two to three points today following the People's Bank of China’s announcement earlier this morning that it would lower the five-year loan prime rate (LPR) by 15 bps to 4.45%. The five-year LPR is a reference rate for housing mortgages and the cut is seen as an effort by the central government to support the real estate market. Country Garden Holdings’ $750 million 5.125% notes due 2025 were indicated up as much as five points...

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Spotlight on: Corestate

Over nine years, the Reorg team has analysed thousands of performing and distressed credits. Our expert team of financial analysts, legal analysts and journalists produce granular capital structures, primary analysis, tear sheets, waterfall models and more. With long and deep connections to credible sources, we publish up-to-the minute news to help you stay ahead. In this case study, we're highlighting one example showcasing the ongoing credit insights that Reorg's team provide day in, day out to enhance efficiency and improve decision making for more than 25,000  investors, advisors and lawyers. Corestate: The German real estate manager’s bonds have declined more than 30...

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