Bond market

PAAMC HK's Flagship Fund Awarded ESG Fixed Income Fund of the Year (Asia) by Environmental Finance

Retrieved on: 
Tuesday, June 29, 2021
Finance, Money, Investment funds, Financial markets, Bond market, Charoen Pokphand, Ping An Insurance, China Asset Management, Bond fund, Income fund, Bond, Climate bond

HONG KONG, June 29, 2021 /PRNewswire/ --Ping An of China Asset Management (Hong Kong) Company Limited ("PAAMC HK") is delighted to announce that its flagship fund, the Ping An of China Asset Management Fund - China Green Bond Fund ("the Fund"), has won the prestigious award of "ESG Fixed Income Fund of the Year (Asia)" in Environmental Finance's Sustainable Investment Awards 2021.

Key Points: 
  • HONG KONG, June 29, 2021 /PRNewswire/ --Ping An of China Asset Management (Hong Kong) Company Limited ("PAAMC HK") is delighted to announce that its flagship fund, the Ping An of China Asset Management Fund - China Green Bond Fund ("the Fund"), has won the prestigious award of "ESG Fixed Income Fund of the Year (Asia)" in Environmental Finance's Sustainable Investment Awards 2021.
  • With sustainable finance awareness on the rise, PAAMC HK expects the Fund to continue to grow rapidly with global investors, who are mostly under-allocated to Chinese green bonds.
  • This pioneer product represents an important mission for PAAMC HK as we grow and expand in the ESG investment space.
  • Its major fixed income products also include Ping An of China SIF-RMB Bond Fund, China High Yield Private Strategy Bond Fund and Emerging Market Income Fund.

Western Asset Diversified Income Fund Raises $1.0 Billion in Initial Public Offering, Starts Trading on New York Stock Exchange

Retrieved on: 
Monday, June 28, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Western Asset Management Company, Capital appreciation, Franklin Templeton Investments, Diversification, Investment, Bond market, Western Asset, Franklin Templeton, WESTERN ASSET, FRANKLIN TEMPLETON

Franklin Templeton, one of the worlds largest asset managers, has announced that Western Asset Diversified Income Fund (the "Fund") has raised $1,000,000,000 in its initial public offering (excluding any exercise of the underwriters' option to purchase additional common shares).

Key Points: 
  • Franklin Templeton, one of the worlds largest asset managers, has announced that Western Asset Diversified Income Fund (the "Fund") has raised $1,000,000,000 in its initial public offering (excluding any exercise of the underwriters' option to purchase additional common shares).
  • The Fund is a diversified, closed-end fund seeking high current income and, secondarily, capital appreciation.
  • Western Asset, which currently manages $181 billion in multi-sector bond strategies as of March 31, 2021, has been one of Franklin Templetons independent specialist investment managers since July 2020.
  • Were seeking diversified sources of income, which means were anticipating investing across the entirety of the global credit markets to enhance portfolio diversification and return potential.

Kroll Bond Rating Agency Upgrades Pinnacle Credit Ratings to A- and BBB+

Retrieved on: 
Friday, June 18, 2021
Banking, Professional services, Insurance, Finance, Finance, Money, Economy, Bond credit rating, Bond market, Bond valuation, Credit rating, Credit risk, Investment, Credit rating agency, NASDAQ, KBRA

Kroll Bond Rating Agency (KBRA) recently upgraded credit and preferred shares ratings for Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP), affirming the firms strategic business model and navigation of the pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) recently upgraded credit and preferred shares ratings for Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP), affirming the firms strategic business model and navigation of the pandemic.
  • In a press release, KBRA announced the upgrade of Pinnacle Financial Partners senior unsecured credit rating to A- (from BBB+).
  • In the same release, KBRA announced upgrades to Pinnacles preferred shares rating to BBB (from BBB-) and affirmed the firms short-term debt rating of K2.
  • The Kroll release, disclosures and additional information on rating categories are on their website.

KBRA Assigns Rating to Golub Capital Partners ABS Funding 2019-1, L.P. In Connection with Refinancing

Retrieved on: 
Thursday, June 17, 2021
Professional services, Finance, Finance, Money, Financial markets, Credit risk, Structured finance, United States housing bubble, Bond market, Fixed-income securities, Nationally recognized statistical rating organization, Credit rating agency, Securitization, Bond credit rating

Kroll Bond Rating Agency (KBRA) assigns rating to one class of notes issued by Golub Capital Partners ABS Funding 2019-1, L.P. (GCPAF 2019-1), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns rating to one class of notes issued by Golub Capital Partners ABS Funding 2019-1, L.P. (GCPAF 2019-1), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.
  • KBRAs rating on the original Class A Notes is being withdrawn in connection with the execution of the refinancing and redemption.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Rating to Ellington CLO IV, Ltd. In Connection with Refinancing

Retrieved on: 
Thursday, June 17, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Loans, Bond market, Credit risk, Nationally recognized statistical rating organization, Credit rating agency, KBRA, Collateralized loan obligation, Bond credit rating, Bond

Kroll Bond Rating Agency (KBRA) assigns rating to one class of refinancing notes issued by Ellington CLO IV, Ltd. (Ellington IV), a cash flow collateralized loan obligation (CLO) which initially closed in March 2019.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns rating to one class of refinancing notes issued by Ellington CLO IV, Ltd. (Ellington IV), a cash flow collateralized loan obligation (CLO) which initially closed in March 2019.
  • KBRAs rating on the original Class A Notes is being withdrawn in connection with the execution of the refinancing and redemption.
  • Ellington IV is managed by Ellington CLO Management, LLC (Ellington or the collateral manager) and is currently out of the reinvestment period.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

MarketAxess to Participate in the Morgan Stanley U.S. Financials, Payments and CRE Conference

Retrieved on: 
Tuesday, June 15, 2021
Finance, Financial markets, Money, MarketAxess, Share trading, Dark pool, Automated trading system, Bond market

The presentation will be broadcast live on the internet.

Key Points: 
  • The presentation will be broadcast live on the internet.
  • A global network of over 1,800 firms, including the worlds leading asset managers and institutional broker-dealers, leverages MarketAxess patented trading technology to efficiently trade bonds.
  • MarketAxess award-winning Open Trading marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants.
  • Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.

KBRA Assigns Preliminary Ratings to Blackbird Capital II Aircraft Lease Limited

Retrieved on: 
Monday, June 14, 2021
Professional services, Air, Transport, Finance, Finance, Money, Financial markets, Fixed-income securities, Structured finance, Bond market, Nationally recognized statistical rating organization, Credit rating agency, Kroll, KBRA, Bond credit rating, Air Lease Corporation

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to the Series A Notes and Series B Notes issued by Blackbird Capital II Aircraft Lease Limited and Blackbird Capital II Aircraft Lease US LLC, an aviation ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to the Series A Notes and Series B Notes issued by Blackbird Capital II Aircraft Lease Limited and Blackbird Capital II Aircraft Lease US LLC, an aviation ABS transaction.
  • This transaction is serviced by Air Lease Corporation and ALC Aircraft Limited.
  • Unless noted otherwise, all statistics put forth assume the three non-delivered assets are delivered in September 2021 or December 2021, and includes the off-lease aircraft.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

KBRA Assigns Preliminary Ratings to Hardee’s Funding LLC, Carl’s Jr. Funding LLC, Series 2021-1 Senior Secured Notes

Retrieved on: 
Monday, June 14, 2021
Banking, Professional services, Finance, Finance, Money, Credit risk, Economy, United States housing bubble, Debt, Securitization, Bond market, KBRA, Credit rating agency, Bond credit rating

Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to a class of notes from Hardees Funding LLC, Carls Jr. Funding LLC, Series 2021-1, a whole business securitization (WBS).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to a class of notes from Hardees Funding LLC, Carls Jr. Funding LLC, Series 2021-1, a whole business securitization (WBS).
  • This transaction is the fourth WBS issued by Hardees Funding LLC and Carls Jr. Funding LLC (the Co-Issuers).
  • In conjunction with the issuance of the Series 2021-1 Notes, KBRA anticipates affirming the ratings on the Co-Issuers outstanding Series 2018-1 Class A-1, Class A-2-II, A-2-III Notes and Series 2020-1 Class A-2 Notes.
  • The ratings are consistent with the results of our cash flow scenarios following the addition of the Series 2021-1 Notes.

KBRA Assigns Preliminary Ratings to Carvana Auto Receivables Trust 2021-P2

Retrieved on: 
Thursday, June 10, 2021
Professional services, Finance, Finance, Money, Economy, Credit risk, Bond market, Credit rating agency, KBRA, Carvana, Bond credit rating, Insurance

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to eight classes of notes issued by Carvana Auto Receivables Trust 2021-P2 (CRVNA 2021-P2), an auto loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to eight classes of notes issued by Carvana Auto Receivables Trust 2021-P2 (CRVNA 2021-P2), an auto loan ABS transaction.
  • The transaction is collateralized by approximately $775 million of automobile loans to primarily prime obligors as defined by the Company.
  • Carvana, LLC was founded in 2012 as an eCommerce platform for buying used vehicles.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Energizer Holdings, Inc. Announces Commencement of Offering of €650 Million Senior Notes Offering and Conditional Full Redemption of Outstanding 4.625% Senior Notes Due 2026

Retrieved on: 
Wednesday, June 9, 2021
Bond market, Contract law, Indenture

Concurrently with the offering of the New Notes, and pursuant to the terms of the indenture (the "2026 Notes Indenture") governing the Issuer's 4.625% Senior Notes due 2026 (the "2026 Notes"), the Issuer will give a notice of conditional redemption to redeem in full the 650 million aggregate principal amount of the outstanding 2026 Notes (the "2026 Notes Redemption").

Key Points: 
  • Concurrently with the offering of the New Notes, and pursuant to the terms of the indenture (the "2026 Notes Indenture") governing the Issuer's 4.625% Senior Notes due 2026 (the "2026 Notes"), the Issuer will give a notice of conditional redemption to redeem in full the 650 million aggregate principal amount of the outstanding 2026 Notes (the "2026 Notes Redemption").
  • The redemption price for the 2026 Notes will be calculated no later than two business days prior to the redemption date in accordance with the terms of the 2026 Notes.
  • This press release does not constitute a notice of redemption under the 2026 Notes Indenture or an obligation to issue a notice of redemption.
  • Any such notice, if given, will only be given in accordance with the provisions of the 2026 Notes Indenture.