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Thursday Sep 11 | Bloomberg
Ghana sold $1 billion of bonds less than a week before the arrival of an International Monetary Fund mission intended to help bring stability to an economy battered by the world's worst currency rout. The West African nation priced the amortizing notes due January 2026 to pay 8.25 percent, or 5.72 percentage points more than similar-maturity U.S. Treasuries, according to data compiled by Bloomberg.
Thursday Sep 11 | The Washington Post
The riskiest borrowers are leading to the busiest a September in at least six years for speculative-grade bond sales in the U.S. as Moody's Investors Service warns that protections in the debt are declining. J.C. Penney Co., the retailer whose liquidity Goldman Sachs Group Inc. warned a year ago was under strain, is among issuers that have sold or are planning more than $17.5 billion in bonds this month, data compiled by Bloomberg show.
Vestcom is in the market with a $335 million loan, according to Thomson Reuters Loan Pricing Corp. Most of that will be used to repay debt, but about $95 million will go to pay a dividend to its shareholders, Moody's Investors Service said . The deal will boost Vestcom's leverage to 5.5x debt-to-EBITDA from its current 4x, Moody's said.
Apollo Global Management LLC is sweetening the terms of a junk bond funding a C$2 billion bet on a recovery in natural-gas prices and its first acquisition of Canadian gas assets. Apollo's Jupiter Resources Ltd. revived the $1.13 billion offering after shelving the deal in August, and increased the yield on the eight-year notes to a range of 8.5 percent to 8.75 percent, from 8.25 percent in August, according to people with direct knowledge of the transaction who couldn't be identified before terms are public.
The MSCI EM Index, up 3.5% for the year through Tuesday, was down 1.3% in London trading this morning. The Hong Kong Hang Seng Index fell nearly 2% and Brazil's Ibovespa Index is down 1.15% a day after Moody's downgraded Brazil's sovereign debt .
Hennepin, Washington and Scott counties moved Tuesday toward bumping up their property tax collections next year, while Ramsey County plans to hold steady for the second consecutive year. Hennepin County Administrator David Hough proposed collecting just shy of $700 million next year, an increase of $18.7 million over 2014.
Moody's Investors Service on Tuesday lowered the outlook for Brazil's sovereign debt to negative, sending markets lower and posing a new obstacle for Pres. Dilma Rousseff's reelection campaign.
Apple has moved to recapture its role as the leading tech trend-setter as it unveiled its first smartwatch and two large-screen versions of the iPhone. RIO DE JANEIRO - Ratings agency Moody's has lowered its outlook for Brazil, in the latest blow to President Dilma Rousseff's economic record, just weeks before she is to seek re-election.
Martinco PLC declared a dividend on Tuesday, September 9th, AnalystRatings.NET reports. Shareholders of record on Wednesday, September 17th will be given a dividend of GBX 1.30 per share on Tuesday, September 30th.
HSBC Holdings has started to gauge investor interest on a long-awaited inaugural dollar-denominated contingent convertible bond deal on Wednesday [NEW YORK] HSBC Holdings has started to gauge investor interest on a long-awaited inaugural dollar-denominated contingent convertible bond deal on Wednesday. The trade is coming in the form of two perpetual non-call tranches, one running up to January 2020 and the other September 2024.
The changes aim to provide a new framework for determining how each type of creditor is likely to be affected when a bank needs to be resolved, and to help more precisely predict bank failures. While the proposed methodology is necessarily global in scope to ensure consistent application, it embeds the flexibility to recognize the substantial differences between regions and individual institutions.
The event will start at 8:00 a.m. Eastern Time and is expected to conclude at 1:00 p.m. The event will feature presentations from Moody's management team and showcase important aspects of the business. A copy of the presentations will be posted on Moody's Investor Relations website, http://ir.moodys.com , at the start of the event.
Due to the important contribution that small businesses make to economic growth, employment data that are specific to businesses with 49 or fewer employees is reported each month and broadly distributed to the public, free of charge. The ADP Small Business Report is produced by ADPA , a leading global provider of Human Capital Management solutions, in collaboration with Moody's Analytics.
Updated: Thu Sep 11, 2014 08:51 pm
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