Bond market

New Price Discovery And Automation Tools Increasingly Essential For Trading Corporate Bonds - New Burton-Taylor Report

Retrieved on: 
Tuesday, June 8, 2021
Financial markets, Finance, Money, MarketAxess, Corporate bond, Bond market, Market data, Bond

MarketAxess continues to capture roughly 80%+ of electronically traded US credit for both Investment Grade and High Yield markets.

Key Points: 
  • MarketAxess continues to capture roughly 80%+ of electronically traded US credit for both Investment Grade and High Yield markets.
  • Tradeweb's platform is the second most successful in terms of market share and has maintained growth in total TRACE market share over the past several years.
  • The U.S. Corporate Bond Electronification & Market Data Introduction report analyzes the changing structure of the corporate bond market to one that relies more heavily on electronic trading.
  • Burton-Taylor Exchange, Credit, Risk, Compliance, Media Intelligence, PR and Market Data share figures are seen as industry benchmark standard globally.

Global Container International Completes $253 Million Asset-Backed Securitization

Retrieved on: 
Saturday, June 5, 2021
Maritime, Professional services, Transport, Finance, Finance, Money, Economy, Credit risk, United States housing bubble, DBRS, Bond market, Securitization, Credit rating agency, Containerization, Bond credit rating, Intermodal container, the Notes, Global Container International LLC, THE NOTES, GLOBAL CONTAINER INTERNATIONAL LLC

Global Container International LLC (GCl) today announced the successful offering of $253 million fixed rated asset backed notes secured by marine cargo containers subject to long-term lease.

Key Points: 
  • Global Container International LLC (GCl) today announced the successful offering of $253 million fixed rated asset backed notes secured by marine cargo containers subject to long-term lease.
  • The Series 2021-1 offering consisted of Class A and Class B Notes rated A(sf) and BBB(sf) by both DBRS, Inc. and Kroll Bond Rating Agency.
  • The Series 2020-1 Notes represents GCIs second securitization, successfully expanding its asset backed issuance program to approximately $500 million, over the last 12 months.
  • Global Container International LLC is a Bermuda-based marine container leasing company with worldwide operations including offices or agency representation in the United States, Hong Kong, Shanghai, Singapore, Antwerp, Taipei, and Seoul.

J2 Global to Redeem 3.25% Convertible Senior Notes Due 2029

Retrieved on: 
Wednesday, June 2, 2021
Technology, Internet, Data management, Financial markets, Finance, Money, Contract law, Bond market, Indenture, Convertible security, CUSIP, Redemption value, j2 Global

J2 Global, Inc. (NASDAQ: JCOM) announced today that it has issued a notice of redemption to redeem all of its outstanding 3.25% Convertible Senior Notes due 2029 (CUSIP Number 48123V AC6) (the "Notes") on the redemption date of August 2, 2021.

Key Points: 
  • J2 Global, Inc. (NASDAQ: JCOM) announced today that it has issued a notice of redemption to redeem all of its outstanding 3.25% Convertible Senior Notes due 2029 (CUSIP Number 48123V AC6) (the "Notes") on the redemption date of August 2, 2021.
  • Holders of the Notes that want to convert the Notes must satisfy the requirements set forth in the Notes and the indenture for the Notes.
  • Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for conversion.
  • Although managements expectations may change after the date of this press release, J2 Global undertakes no obligation to revise or update these statements.

Wells Fargo Utilities and High Income Fund Announces Sources of Distribution

Retrieved on: 
Tuesday, June 1, 2021
Banking, Professional services, Finance, Finance, Money, Financial District, San Francisco, Economy, Financial markets, Wells Fargo, Investment funds, Bond market, Bond fund, Yield, Companies listed on the New York Stock Exchange

The quoted distribution rate is a figure that uses the funds previous distribution to calculate an annualized figure.

Key Points: 
  • The quoted distribution rate is a figure that uses the funds previous distribution to calculate an annualized figure.
  • The distribution rate is calculated by annualizing the last distribution and then dividing by the period-ending NAV or market price.
  • The Wells Fargo Utilities and High Income Fund is a closed-end equity and high-yield bond fund.
  • Wells Fargo Asset Management (WFAM) is the trade name for certain investment advisory/management firms owned by Wells Fargo & Company.

MarketAxess to Participate in the Deutsche Bank Global Financial Services and Fintech Information Services Conference

Retrieved on: 
Wednesday, May 26, 2021
Finance, Financial markets, Money, MarketAxess, Share trading, Dark pool, Automated trading system, Bond market

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.

Key Points: 
  • 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.
  • MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, So Paulo, Hong Kong and Singapore.

Western Asset Premier Bond Fund Announces Financial Position as of March 31, 2021

Retrieved on: 
Monday, May 24, 2021
Banking, Professional services, Finance, Finance, Money, Investment, Bond market, Western Asset Management Company, Bond fund, Asset management, Amundi, Dow Jones Islamic Fund

(b) NAVs are calculated as of the close of business on the last business day in the periods indicated above.

Key Points: 
  • (b) NAVs are calculated as of the close of business on the last business day in the periods indicated above.
  • Western Asset Premier Bond Fund is a closed-end investment company that invests predominantly in a diversified portfolio of debt securities.
  • Its investment adviser is Western Asset Management Company, LLC (Western Asset), a subsidiary of Franklin Resources.
  • Western Asset Management Company, LLC has managed the Fund since its inception in 2002.

Fortegra Corporate Rating of A- (Excellent) Reaffirmed by Kroll Bond Rating Agency, Inc.

Retrieved on: 
Thursday, May 20, 2021
Consulting, Professional services, Insurance, Finance, Money, Economy, Credit rating, Bond credit rating, Bond market, Bond valuation, Credit risk, Investment, KBRA, Subordinated debt

Additionally, KBRA reaffirmed the BBB issuer rating and BBB- junior subordinated debt rating of Fortegra\xe2\x80\x99s subsidiary, Fortegra Financial Corporation.\n\xe2\x80\x9cWe are pleased with the KBRA rating affirmation.

Key Points: 
  • Additionally, KBRA reaffirmed the BBB issuer rating and BBB- junior subordinated debt rating of Fortegra\xe2\x80\x99s subsidiary, Fortegra Financial Corporation.\n\xe2\x80\x9cWe are pleased with the KBRA rating affirmation.
  • The BBB issuer rating and stable outlook underscores the success of our growth strategy and operating model,\xe2\x80\x9d said Michael Grasher, Chief Financial Officer at Fortegra.
  • \xe2\x80\x9cBy balancing disciplined underwriting with fee-based revenue we continue to produce strong cash flows and shareholder returns.
  • We expect this trajectory to continue well into the future.\xe2\x80\x9d\nThe affirmed rating is indicative of KBRA\xe2\x80\x99s belief that Fortegra has a somewhat aggressive growth strategy.

KBRA Assigns Preliminary Ratings to Avant Loans Funding Trust 2021-REV1

Retrieved on: 
Thursday, May 13, 2021
Banking, Professional services, Finance, Finance, Money, Financial markets, Structured finance, Financial law, Fixed-income securities, Credit, Bond market, Asset-backed security, Credit enhancement, Credit rating agency, Subprime lending

b'Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by Avant Loans Funding Trust 2021-REV1 (\xe2\x80\x9cAVNT 2021-REV1\xe2\x80\x9d), a $200 million consumer loan asset backed security transaction.

Key Points: 
  • b'Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by Avant Loans Funding Trust 2021-REV1 (\xe2\x80\x9cAVNT 2021-REV1\xe2\x80\x9d), a $200 million consumer loan asset backed security transaction.
  • The preliminary ratings reflect initial credit enhancement level ranging from 46.56% to 1.50% for the Class A through E Notes.
  • Personal installment loans are offered primarily to non-prime consumers through the Avant Platform.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210513005756/en/\n'

ESMA consults on its MiFID II/MiFIR Annual Report

Retrieved on: 
Wednesday, May 12, 2021
Finance, Financial markets, Money, Bond market, Security, Capital market, Directive 2014/65/EU, European Securities and Markets Authority, Bond

b'The European Securities and Markets Authority (ESMA), the EU\xe2\x80\x99s securities markets regulator, has today launched a consultation seeking input from market participants on its MiFIDII /MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).

Key Points: 
  • b'The European Securities and Markets Authority (ESMA), the EU\xe2\x80\x99s securities markets regulator, has today launched a consultation seeking input from market participants on its MiFIDII /MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).
  • The consultation closes on 11 June 2021.\nThe Consultation Paper provides for the Annual Assessment of the operation of the thresholds for the liquidity determination of bonds and the trade percentiles determining the pre-trade SSTI-threshold which is currently subject to a a four-stage phase-in regime under RTS 2.\nMove to stage 3 for the liquidity assessment of bonds;\nMove to stage 3 for the SSTI percentile of bonds; and\nNot to move to stage 2 for the SSTI percentile of non-equity instruments other than bonds.\nThese proposals are designed to increase the transparency available to market participants in the bond market.\nESMA will consider the feedback and expects to publish a final report and submit, if necessary, regulatory technical standards to the European Commission for endorsement in July 2021.
  • Following such endorsement, the RTS are then subject to a non-objection procedure by the European Parliament and the Council.\n'

ESMA consults on its MiFID II/MiFIR Annual Report

Retrieved on: 
Wednesday, May 12, 2021
Finance, Financial markets, Money, Bond market, Security, Capital market, Directive 2014/65/EU, European Securities and Markets Authority, Bond

b'The European Securities and Markets Authority (ESMA), the EU\xe2\x80\x99s securities markets regulator, has today launched a consultation seeking input from market participants on its MiFIDII /MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).

Key Points: 
  • b'The European Securities and Markets Authority (ESMA), the EU\xe2\x80\x99s securities markets regulator, has today launched a consultation seeking input from market participants on its MiFIDII /MiFIR Annual Review Report under Commission Delegated Regulation (EU) 2017/583 (RTS 2).
  • The consultation closes on 11 June 2021.\nThe Consultation Paper provides for the Annual Assessment of the operation of the thresholds for the liquidity determination of bonds and the trade percentiles determining the pre-trade SSTI-threshold which is currently subject to a a four-stage phase-in regime under RTS 2.\nMove to stage 3 for the liquidity assessment of bonds;\nMove to stage 3 for the SSTI percentile of bonds; and\nNot to move to stage 2 for the SSTI percentile of non-equity instruments other than bonds.\nThese proposals are designed to increase the transparency available to market participants in the bond market.\nESMA will consider the feedback and expects to publish a final report and submit, if necessary, regulatory technical standards to the European Commission for endorsement in July 2021.
  • Following such endorsement, the RTS are then subject to a non-objection procedure by the European Parliament and the Council.\n'