13
May
2022

Intercontinental Exchange Prices $8 Billion in Senior Notes and Issues Notices of Redemption for Four Series of Senior Notes due 2022 and 2023

Intercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure, announced today that it priced an underwritten public offering of $8 billion in new senior notes. (more…) Read more...

12
May
2022

GTJAI Successfully Assisted Orient Securities in Issuing the World’s First Euro-denominated Yulan Bond

Guotai Junan International Holdings Limited ("Guotai Junan International", the "Company" or the "Group", Stock Code: 1788.HK) announced that the Company has successfully assisted Orient Securities Company Limited (“Orient Securities”) in issuing the world’s first Eurodenominated Yulan Bond on May 5, 2022. The issuance size amounted to 100 million Euros, with a maturity period of 3 years and coupon rate of 1.75%. The final pricing was MS+68bps, 27 bps narrowed from the initial price guidance. The bond was issued smoothly with rational cost control under the highly volatile Euro market and received positive response from the market. (more…) Read more...

06
May
2022

TenneT reconfirms position as top Green Bond Issuer – solid investor demand for its largest offering of EUR 3.85bn

TenneT Holding B.V. (issuer ratings A3/A-, stable outlook) yesterday successfully launched and priced a senior Green Bond issue of EUR 3.85 billion, split in four tranches of EUR 1,250 million (term: 4.5 years, coupon 1.625%), EUR 1,000 million (term: 7.5 years, coupon 2.125%), EUR 750 million (term: 11 years, coupon 2.375%) and EUR 850 million (term: 20 years, coupon 2.750%) with the support of 6 active Joint Bookrunners: ABN AMRO, BNP Paribas, Commerzbank, NatWest Markets, Santander and UniCredit. (more…) Read more...

06
May
2022

American Express Issues Inaugural $1 Billion ESG Bond

American Express Company (NYSE: AXP) today announced the settlement of the company’s first Environmental, Social, and Governance (ESG) Bond on Tuesday, May 3. The use of the net proceeds of the $1 billion bond may be allocated toward sustainable financing projects in the Green and Social categories as directed by the newly developed American Express Sustainable Financing Framework, which is aligned with the company’s global ESG strategy. (more…) Read more...

28
Apr
2022

Philips launches offering of Green and Sustainability Innovation Notes and a Series of Liability Management Transactions

Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the intention to issue one or more series of notes (the “Notes”) under its European Medium Term Note (EMTN) program (the “EMTN Offering”), as well as a series of liability management transactions, which are expected to extend the company’s debt maturity profile. (more…) Read more...

22
Apr
2022

Light & Wonder Announces Successful Completion of Debt Refinancing Transactions, Delivering on Promise to Transform the Balance Sheet

Scientific Games Corporation, doing business as Light & Wonder, (NASDAQ: SGMS) (“Light & Wonder” or the “Company”) today announced it achieved a major milestone in transforming and deleveraging its balance sheet. The Company retired its existing $4.0 billion term loan and redeemed $3.0 billion of its secured and unsecured notes using proceeds from the divestiture of the Lottery Business and a new $2.2 billion term loan facility. In conjunction with the new term loan, the Company also entered into a new $750 million revolving credit facility. (more…) Read more...

19
Apr
2022

ION Commences Voluntary Chapter 11 Process with Lender Support and DIP Financing

ION Geophysical Corporation (NYSE: IO) and certain affiliates (“ION” or the “Company”) today announced that, after evaluating a variety of strategic alternatives, it has filed for voluntary Chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”) as it explores a value-maximizing transaction that will strengthen the Company’s balance sheet and position ION for sustained future success. In connection with the Chapter 11 filing, ION entered into a Restructuring Support Agreement (the “RSA”) with the lenders under its Credit Agreement and holders of approximately 80% of its 2025 Notes, whereby the parties agreed to support the Company’s Chapter 11 plan of reorganization (the “Plan”). (more…)

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14
Apr
2022

OCI Announces Refinancing Initiatives and a Ratings Upgraded to Investment Grade by S&P Global Ratings

OCI N.V. (Euronext: OCI) has announced a refinancing of all capital markets debt of its wholly-owned subsidiary Iowa Fertilizer Company ("IFCo") through a proposed bond issuance of up to approximately $854 million. The refinancing aims to simplify OCI’s capital structure and significantly extend its maturity profile. Separately, OCI has closed a new $1.1 billion Revolving Credit Facility to replace a facility of $850 million, which was undrawn at the time of its refinancing. The facility carries an interest margin of 1.1% and includes new lenders as well as lenders from OCI's prior facility. (more…) Read more...

12
Apr
2022

Ekosem-Agrar plans prolongation and interest rate reduction of corporate bonds

Ekosem-Agrar AG, the German holding company of Russian milk producer Ekoniva Group, has decided to propose to noteholders to extend each the bearer bonds 2012/2022 (ISIN: DE000A1R0RZ5) and the bearer bonds 2019/2024 (ISIN: DE000A2YNR08) by five years and to reduce the interest rate from 8.5% p.a. and 7.5% p.a. respectively, to 2.5% p.a. for both bonds (with retroactive effect from the respective last interest payment date). Repayment of the Ekosem-Agrar bond 2012/2022 and the Ekosem-Agrar bond 2019/2024 would then be due on 7 December 2027 and 1 August 2029, respectively. (more…) Read more...

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