Junk Bonds
Top-performing Lombard Fund doubles down on India's junk credit bonds
South Asian nation's star economy and improving business environment, at a time of slowing growth in China, has made Indian assets investor darling
 "Top-performing Lombard Fund doubles down on India's junk credit bonds")
Ex-Credit Suisse dealmakers are shaking up $1.3 trillion junk-bond market
Credit Suisse used to be a big arranger of CLOs - vehicles that buy up junk-rated company loans, bundle them together and sell them as bonds
 "Ex-Credit Suisse dealmakers are shaking up $1.3 trillion junk-bond market")
Indian companies are turning more to junk bonds to meet funding needs
Companies using such securities raised more capital in 2022-23 than at any point in the last 8 years
 "Indian companies are turning more to junk bonds to meet funding needs")
Adani Green's dollar bonds plunge past junk levels as group fights crisis
Steep rise in yields raises questions about group's ability to raise fresh debt abroad
 "Adani Green's dollar bonds plunge past junk levels as group fights crisis")
S&P cuts Credit Suisse's rating to one level above junk bond status
S&P cut its rating one notch to BBB- and reduced its view on main operating unit Credit Suisse AG
 "S&P cuts Credit Suisse's rating to one level above junk bond status")
Junk bond investors stung by China look to India and Southeast Asia
Asian junk bond investors are increasingly looking to smaller pockets of the market as a debt crisis among the biggest issuers, Chinese property developers, forces old playbooks to be rewritten
 "Junk bond investors stung by China look to India and Southeast Asia")
Distress signals: US junk bond spreads top 500 bps, a first since 2020
Junk spreads have surged 100 basis points the past two weeks as the Federal Reserve's efforts to tame inflation fuel concerns that the central bank will push the economy into a recession
 "Distress signals: US junk bond spreads top 500 bps, a first since 2020")
AMC taps junk-bond market for $500 mn to refinance high-cost pandemic debt
Citigroup Inc. led the sale of the notes, which are due in 2029 and will be used to help refinance some of the expensive debt AMC acquired to get through pandemic-era shutdowns.
 "AMC taps junk-bond market for $500 mn to refinance high-cost pandemic debt")
Vedanta's bond offer serves test of investor appetite for Indian junk debt
The proceeds of the offering will be used to partially fund the privatisation
 "Vedanta's bond offer serves test of investor appetite for Indian junk debt")
Uber offers $750-mn junk bonds to help finance acquisition of Careem
It's only the second bond sale in Uber's 10-year history
 "Uber offers $750-mn junk bonds to help finance acquisition of Careem")
Junk bonds issuance not yet worrisome
If there is a spike in such issuances, it may add to systemic risk in case issuer ends up defaulting
 "Junk bonds issuance not yet worrisome")
