We also advise clients on the full range of equity and debt securities transactions, including eurobond offerings by corporations and sovereigns, medium - term note programs, high -
yield debt offerings, convertible and exchangeable bond offerings, initial public offerings (IPOs), global depositary receipt (GDR) and American depositary receipt (ADR) programs, and offerings of Sukuk (Islamic bonds).
High -
yield debt offerings by Arcos Dorados, Arcor, Automotores Gildemeister, Banreservas, Cash America, Cementos Progreso, Comcel, GeoPark, Gol Airlines, Grupo Posadas, KIO Networks, Kodak, IRSA Commercial Properties, Independencia, Pampa Energia, PDVSA and other issuers
Freshfields joint head of capital markets Sarah Murphy said: «Gil's expertise in acquisition financing, high
yield debt offerings and bridge financing will be a valuable addition to our high yield, US and capital markets practices and we are very excited about the opportunities that will come from the combined experience of Gil and our existing teams.»
In addition, he regularly advises public clients on matters of corporate finance, including public and private equity and high -
yield debt offerings, buy - side acquisitions, and securities law compliance.
His practice focuses on public and private corporate finance transactions, including initial public offerings, convertible and high -
yield debt offerings and private equity investments, and mergers and acquisitions.
He regularly advises publicly traded clients on matters of corporate finance, including public and private equity and high -
yield debt offerings, buy - side acquisitions, and securities law compliance.
Leveraging our leading institutional distribution platform, our goal is to provide our clients with solutions across all banking products, including initial public offerings, follow - on offerings, wall - crossed offerings, bought deals, private placements, ATMs, convertible offerings, leveraged loans, investment grade and high -
yield debt offerings and all forms of advisory services.
Not exact matches
Many people have bought into this space because it's one of the only places to get decent
yield, but she points out that a number of companies only
offer corporate
debt because of market demand.
The $ 1.2 trillion market for U.S. junk bonds
yields about 6.6 percent, double what's
offered by higher - rated company
debt, according to Bank of America Merrill Lynch index data.
Most of the capital provided to these companies comes from high -
yield («junk») corporate bond sales, preferred share
offerings, and
debt.
Although the bond market is also volatile, lower - quality
debt securities, including leveraged loans, generally
offer higher
yields compared with investment - grade securities, but also involve greater risk of default or price changes.
• Lower - quality
debt securities generally
offer higher
yields but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer.
According to Bloomberg data, EM
debt is
offering yields of above 4 %, and despite a strong year - to - date performance (more than 13 %), we see potential for significant income with lowered spread risk, given the diminished expectations of a near - term Fed move.
Higher
yielding fixed income
offers those higher
yields because the issuers of the bonds have a better chance of defaulting on their
debt.
The issue was the second largest
offering of high -
yield debt this year after Stamford, Connecticut — based Frontier Communications» $ 3.2 billion note sale in March.
It is true Catalonia has regional bonds, however, in comparison to the
debt offered by the regional banks, it is much less liquid and it
offers only a marginally higher
yield that doesn't correctly reflect the riskiness of the bond or the rating.
This places the U.S. in the difficult position of having to finance an enormous volume of capital needs from foreigners, particularly for Treasury
debt, yet without being able to
offer competitive
yields or strong prospects for additional capital gains.
So you have $ WFC - L preferreds, rated BBB,
offering a
yield of 6.15 %, and then you have $ KSU - preferreds, with no rating, issued by a company whose senior
debt is rated BBB -,
offering a
yield of 3.45 %, 260 bps lower — in the same market, on the same exchange.
Borrowers issued the fewest bonds in Australia in almost three years last quarter as Europe's budget crisis roiled markets, driving up
yield premiums, while the nation's banks used record term deposits to cut
debt offerings.
This meant that municipal bonds, which typically
yield less than Treasuries before tax, began to
offer yields higher or comparable to federal government
debt on a pre-tax basis.
The preferred stocks reflect a part of the credit market that hasn't gotten whacked too bad,
offering a decent
yield for the junior
debt on healthy companies risk.
Investment grade corporate bonds typically
offer better return potential than Treasury bonds, and investment grade
debt allows investors to pursue those returns without adding as much risk as high
yield bonds.
In our opinion, the so - called «spread sectors,» from high -
yield bonds to non-agency mortgages and emerging - market
debt (EMD), currently
offer attractive levels of credit, prepayment, and liquidity risks, particularly for investors who know how to analyze these risks.
Conversely, non-investment grade
debt offers higher
yields than safer bonds, but it also comes with a significantly higher chance of default.
More about Nontraditional Sources of Income Nontraditional sources of income — such as real estate investment trusts (REITs), emerging market
debt, bank loans, master limited partnerships (MLPs), and preferred stock — not only may provide additional opportunities for diversification, but may
offer a way to capture
yield
As a result, when corporations issue bonds, they must
offer higher
yields to entice investors to shoulder the risk of unsecured
debt.
Although the bond market is also volatile, lower - quality
debt securities including leveraged loans generally
offer higher
yields compared to investment grade securities, but also involve greater risk of default or price changes.
Investment - grade corporate
debt offers higher
yields than long - end Treasuries at less than half the volatility, our analysis shows.
High
Yield Bonds ETFs
offer investors exposure to
debt issued by below investment grade corporations.
Although the bond market is also volatile, lower - quality
debt securities, including leveraged loans, generally
offer higher
yields compared with investment - grade securities, but also involve greater risk of default or price changes.
At the end of November, the index is trading at a
yield of 6.8 % compared to developed market
debt, proxied by the Barclays Capital Global Aggregate Bond Index, which is
offering a scant 1.6 %, also as of the end of November.
Fundamental research
offers a guide to the risk that low oil prices pose to energy companies with high
yield debt.
With a portfolio composed of investment - grade
debt from corporate, sovereign and supranational issuers with three - year maximum maturities, the iShares 1 - 3 Year Credit Bond ETF (NYSEARCA: CSJ) aims to
offer a higher distribution
yield than comparable all - Treasury funds, but it does have a marginally higher credit risk.
Besides the potential currency appreciation, the boom in Chinese
debts comes amid an increasing appetite for fixed income assets in addition to the potential
yield pick - up
offered in the current low - rate environment.
Plus, it
offers well - diversified portfolios that hold a variety of assets, from large - company stocks (U.S. and foreign) to small - company stocks, U.S. and foreign bonds, high -
yield debt, and even gold.
A review of high -
yield debt investments should cover: (1) analysis of the industry, including growth rates, special risks and leading companies; (2) analysis of the bond issuer, including the company's position in its industry; new products; management stability; the outlook for growth in revenues and cash flow as captured in Earnings Before Interest, Taxes, Depreciation and Amortization, also called EBITDA; value of corporate assets and the
debt maturity schedule; and (3) analysis of the issue, including special provisions in the «bond indenture,» covenants protecting the bondholder, use of the money raised in bond
offerings,
debt seniority, secondary market liquidity and call provisions.
Bank loans and emerging - market
debt offer attractive
yields but come with additional volatility relative to traditional bonds, so investors should consider the tradeoff and size positions accordingly.
Fed policies could affect the entire fixed - income market, from U.S. Treasuries and municipal bonds to riskier corporate
debt that typically
offers higher
yields.
As of year - end 2017, emerging - market
debt was
offering relatively low
yields.
Debt securities rated below investment - grade are riskier, but may
offer higher
yields.
He advises U.S. and non-U.S. issuers and underwriters on initial public
offerings, private placements, high -
yield, investment - grade and convertible notes
offerings,
debt restructurings and cross-border finance transactions.
She has represented both underwriters and issuers in a variety of financing transactions, such as initial public
offerings, secondary equity
offerings, high -
yield, investment - grade and convertible bond
offerings, and
debt restructurings.
His transactional work includes initial public
offerings (with an emphasis on bio-tech and high - tech companies), high -
yield, convertible and straight
debt offerings, tender
offers and issuer repurchase programs.
Led by Asia managing partner William Barron, Davis Polk's
debt capital markets team closed more than 50
debt offerings for companies from India, China, Japan and Korea, including more than 10 high
yield offerings across the region.
He has advised U.S. and non-U.S. issuers and underwriters on capital markets transactions, including initial public
offerings and other equity
offerings and public and private high -
yield, investment - grade and convertible
debt offerings, including in Latin America.
She advises U.S. and non-U.S. issuers and underwriters on initial public
offerings and other equity
offerings, public and private high -
yield, investment - grade and convertible
debt offerings, and private placements.
In Germany, partner Gernot Wagner joined the capital markets group in Frankfurt, advising PE houses on high
yield offerings and public and private
debt and equity.
Our extensive experience includes advising on some of the largest and most complex securities
offerings ever by Chinese issuers, including Hong Kong and U.S. IPOs, rights
offerings, high -
yield and investment - grade
debt offerings, convertible and exchangeable
debt securities, and complex liability management exercises.
Finkelstein focuses his practice on representing corporate trust institutions as indenture trustees and agents in connection with domestic and cross-border
debt capital markets transactions, such as
offerings of corporate and municipal, high -
yield and investment grade, secured, unsecured and subordinated, convertible, public and private
debt issued under trust indentures of domestic and international issuers.
Ni represents clients in a variety of
offerings, including primary and secondary equity, convertible notes, investment - grade and high -
yield debt, and hybrid securities.