Latest news with #highyieldbonds
Bloomberg
5 days ago
- Business
- Bloomberg
Easterly High-Yield Muni Fund Plunges Nearly 50% in Sales Dump
Easterly Funds' high-yield municipal-bond fund has dropped almost 50% since Friday as the portfolio unloaded illiquid securities from the riskiest part of the muni market, according to people familiar with the matter. The Easterly RocMuni High Income Municipal Bond Fund net-asset value fell to $3.16 on Monday from $6.15 on Friday morning. Its assets have declined to about $67 million from about $245 million at the end of February.
Bloomberg
14-06-2025
- Business
- Bloomberg
Gundlach Is Latest to Sound Corporate Debt Alarms: Credit Weekly
DoubleLine Capital has its lowest-ever allocations to speculative-grade bonds now, because valuations just don't reflect the risks. The money manager has been gradually cutting its high-yield bonds and other sub-investment-grade debt over the past two years, Jeffrey Gundlach, chief executive officer, said at the Bloomberg Global Credit Forum in Los Angeles this week. There are myriad risks, including inflation and tariffs, and investors aren't getting paid for them, he said.
Bloomberg
13-06-2025
- Business
- Bloomberg
Inter Milan to Repay Bonds Tied to Sponsorship and Media Rights
FC Internazionale Milano SpA is set to give an early payback to holders of its high yield bonds backed by the football club's sponsorship and media rights. Inter Media and Communication SpA — the unit issuing the around €400 million ($461 million) notes due in February 2027 — will redeem them at a price of 101.7 cents on the euro on June 26, according to a filing on Friday. It added in the filing that this was conditional on the conclusion of a debt financing deal prior to the redemption date.
Reuters
30-05-2025
- Automotive
- Reuters
Rivian eyes new debt deal as expected vehicle deliveries slump, Bloomberg News reports
May 30 (Reuters) - Rivian Automotive (RIVN.O), opens new tab is working with JPMorgan Chase (JPM.N), opens new tab on a potential high-yield bond sale, in part to refinance its upcoming debt, Bloomberg News reported on Friday, citing people familiar with the transaction. The EV maker is looking to raise as much as $2 billion, partly to replace existing bonds that mature in 2026, the report said. JPMorgan is sounding out investors on the bond deal, with early pricing talks suggesting a yield around 10%. The transaction could launch as soon as next week, although the deal is still under discussion and may not proceed as planned, according to the report. Rivian and JPMorgan did not immediately respond to Reuters' requests for comment. The possible debt deal comes after Rivian lowered its 2025 deliveries forecast earlier in May, as U.S. tariffs on imported vehicles and auto parts threaten to disrupt the economy and reduce demand for its electric SUVs and pickup trucks. "About the impact of tariffs, it's a couple of thousand dollars of cost that we're going to see on a per-vehicle basis," CEO RJ Scaringe told Reuters earlier this month. Despite manufacturing its vehicles in the U.S. and sourcing most parts from North America, Rivian relies on Asian countries for essential components like lithium-ion batteries. These components are subject to significant duties, increasing the expenses for EV makers.
Bloomberg
30-05-2025
- Automotive
- Bloomberg
Rivian Eyes New Debt Deal as Expected Vehicle Deliveries Slump
JPMorgan Chase & Co. is leading a potential high-yield bond sale for electronic vehicle manufacturer Rivian Automotive Inc., partly to refinance its upcoming debt, according to people familiar with the transaction. The company aims to raise as much as $2 billion, in part to replace existing bonds that mature in 2026, said the people, who were not authorized to discuss the matter publicly. JPMorgan is sounding out investors on the bond deal, with early pricing discussions around 10%, and a transaction could launch as soon as next week, said the people.
