Obligations d'entreprises à tranche de 1k ou 2k EUR/USD, perpétuelles incluses

NEWS pour les obligations de  DISH Network qui se fait acheter par Direct TV

NEW YORK (Reuters) -DirecTV on Monday agreed to buy EchoStar’s satellite television business that includes Dish TV, capping decades of on-and-off talks to create one of the nation’s largest pay TV distributors with a combined 20 million subscribers.
DirecTV clinches long-elusive deal to combine with Dish

SECTION 4.15. Offer to Purchase Upon Change of Control Event.
Upon the occurrence of a Change of Control Event, the Company shall be required to make an offer (a “Change of Control Offer”) to each Holder of Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount thereof, together with accrued and unpaid interest thereon to the date of repurchase (the “Change of
Control Payment”). Within 30 days following any Change of Control Event, the Company shall mail a notice to each Holder stating:

Long story short, EchoStar is getting out of the satellite TV business, while DirecTV is wading deeper in. While the intricacies of EchoStar’s "suite of transformative transactions" are confusing, the upshot appears to be this:

EchoStar is currently unprofitable, and laden with $25.3 billion in debt against only $520 million in cash. By selling Dish and Sling to DirecTV, it will lighten its debt load, lower its interest payments, and get closer to profitability. The company is also rolling over its debt and pushing it a few years down the road, while taking on more debt and selling more shares to raise cash.

Anleihenboard - Anmelden

Nouvelle emission:

Venture Global LNG-Anleihe: 9,000% call 2029 emetteur B1, BB
ISIN US92332YAF88 grosse emission de 3 b.
Attention : c’est une hybride ! Le coupon n’est pas bien plus élevé que les obligations émises precédement . donc pas une recommendation !

We are a long-term, low-cost provider of American-produced liquefied natural gas. Our four Louisiana-based export projects service the global demand for North American natural gas and support the long-term development of clean and reliable North American energy supplies.

A3L37Z | Venture Global LNG-Anleihe: 9,000 % (unbefristet) | finanzen.net

Au sujet des obligations de Direct TV

AT&T sells stake in DirecTV for $7.6 billion as it exits entertainment biz, as DirecTV buys Dish
AT&T sells stake in DirecTV for $7.6 billion as it exits entertainment biz, as DirecTV buys Dish - CBS News

Private equity group TPG has acquired full control of DirecTV from AT&T in a $7.6bn deal, betting that the satellite service could be a low-cost challenger to Alphabet, Netflix and Apple.

Dernière modification par sissi (02/10/2024 09h55)

Alpiq exerce son call pour l’obligation hybride en CHF

Lausanne – Alpiq is using this year’s call option to repay in full its public hybrid bond of CHF 650 million. As Alpiq has been able to secure the group’s long-term financial stability over the last three years, the company now has very solid financing and can therefore pay back the hybrid financing after 11.5 years.

Alpiq no longer requires CHF 650 million hybrid bond

Coronado Finance Pty 9,250% 2029 senior secured call notée B1, BB- call 2026 a 109
ISIN USQ2874LAB01 min 2k USD
A3L329 | Coronado Finance Pty-Anleihe: 9,250 % bis 01.10.2029 | finanzen.net
Boite minière Australienne
"The Australia-based mining company plans to use the proceeds to fully repay the remainder of its existing US$242.3 million senior secured notes, which it originally issued at US$350 million. It will retain the residual proceeds for liquidity and general corporate purposes."
Coronado Global Resources’ Proposed Senior Secured Notes Rated ’BB-’
S&P Global Ratings
"Coronado sells rare coal miner dollar bond in junk market"

Indonesia’s Indika Energy is the only other coal miner in the Asia Pacific to sell dollar notes this year, while US coal producer Alliance Resource Operating Partners LP’s May fundraising is another rare example of such a deal.

Both those issuers priced the debt with coupons in excess of 8.5%. Local-currency bond deals of Asian coal miners are more common, with Shaanxi Coal & Chemical Industry Group Co. selling notes in the yuan market earlier this month.

Coronado sells rare coal miner dollar bond in junk market - MINING.COM

Dernière modification par sissi (Hier 09h52)

IG

FARMERS INSURANCE EXCHANGE (FARMER) Baa3/BBB+ Oct 15, 2064 deja sur IB mais pas encore achetable coupon de 7.223% min 10k USD call 2054
USU3135PAF00 pour la REGS encore en "pre-" sur IB hier

Junk

Pebblebrook Hotel LP/PEB Finance 6,375% 2029 call 2026
ISIN US70510LAA70
A3LZKW | Pebblebrook Hotel LP-PEB Finance-Anleihe: 6,375 % bis 15.10.2029 | finanzen.net
Pebblebrook Hotel Trust Assigned ’B’ Issuer Credit Rating; Outlook Stable; New Notes Rated ’B+’; Recovery Rating: ’2’

Pebblebrook Hotels Trust is a publicly traded REIT and one of the largest owners of urban and resort lifestyle hotels in the U.S. As of June 2024, the company had a portfolio of approximately 12,000 guest rooms at its luxury and upper-upscale hotels. The company is planning to address some of its upcoming debt maturities by issuing $350 million of proposed senior unsecured notes due 2029 at its borrower subsidiary Pebblebrook Hotel L.P.

ur rating incorporates the asset quality of Pebblebrook’s hotel portfolio. Pebblebrook has a high-quality portfolio of about 12,000 luxury and upper-upscale rooms in the U.S., notably in popular coastal cities such as San Diego, Boston, and Naples. The company benefits from diverse guest segmentation, given that its 2023 revenue was evenly split between leisure and business travelers. In addition, Pebblebrook derived about 30% of its 2023 revenue from group travel. Over the past several years, the company has refocused its portfolio and increased its concentration of leisure and group-oriented properties and substantially completed a strategic redevolopment program to enhance its portfolio, which involved capital investment of over $800 million since 2018.

S&P Global Ratings

Dernière modification par sissi (Aujourd’hui 11h16)