Latest news with #debtmarket
Bloomberg
6 days ago
- Business
- Bloomberg
Europe's Junk Loan Market Shows Rare Sign of Investor Fatigue
Lenders are demanding higher pricing from two European leveraged-loan borrowers, a rare sign of difficulty these days in the buoyant market for sub-investment grade debt. Pricing for a €450 million ($529 million) loan to French hospital operator Almaviva Sante has increased to 425 basis points over Euribor from an initial 375 basis points. Nursing home company DomusVi, meanwhile, has seen price talk for its €1.979 billion repricing climb to to Euribor plus 475 from guidance of 425 to 450 basis points over Euribor.
Zawya
22-07-2025
- Business
- Zawya
Ethiopia: Ministry of Finance Launches First-Ever Issuance Calendar for Treasury (T)-Bills
As part of ongoing efforts to reform and modernize public finance management and to foster market-based deficit financing through domestic-currency Treasury bills and bonds market, the Ministry of Finance has published its first three-month Treasury-bill issuance calendar. This milestone supports the government's 'reset, reform, and relaunch' agenda, deepening the domestic debt market and improving transparency. By giving market participants clear visibility of upcoming auctions, the calendar enhances predictability and builds investor confidence. It also underscores the government's commitment to borrow domestically in ways that limit inflation and safeguard macroeconomic stability. The calendar embodies the shift toward a genuinely market-based approach to Treasury-bill issuance. This compliments the opening of the secondary market and the introduction of more competitive retail auctions open to a wider range of investors through the Ethiopian Securities Exchange. The Ministry of Finance will continue to build on this momentum by promoting openness, broadening investor participation, and aligning Ethiopia's debt-management practices with international best practice. Distributed by APO Group on behalf of Ministry of Finance, Ethiopia.
Japan Times
18-07-2025
- Business
- Japan Times
Fukoku Life plans to step up Japanese government bond purchases
Fukoku Life Insurance may increase its purchases of Japanese super-long bonds just as the nation's debt market trembled this week ahead of Upper House election. The insurer has raised its local bond purchase target for the current fiscal year to several hundred billion yen from the initially planned ¥30 billion and is focusing on Japanese government debt to capitalize on higher super-long-term interest rates. This plan comes as the 20-year and the 30-year yields rose to their highest since 1999 earlier this week amid concerns that a defeat for the ruling coalition on July 20 may lead to looser fiscal policy. The benchmark 10-year yield hit its highest in more than a decade. "We have been steadily purchasing bonds since April, with a particular focus on buying when interest rates rose in May,' said Junya Morizane, general manager of investment planning department in an interview on Thursday. Media polls suggest that the ruling party is in danger of losing its majority. To entice voters, opposition parties are pushing an expensive plan to cut the sales tax. The company says it is currently taking a wait-and-see approach ahead of the vote yet says it will continue to "significantly reduce its foreign bond position and shift it entirely to yen bonds,' Morizane said. Life insurance companies have been cautious about investing in super-long-term bonds beyond the statutory requirement to comply with rules that took effect this fiscal year. Fukoku Life is an exception, as its investment policy during the time of Japan's sub-zero interest policy, which ended last year, left a gap in its books. "We refrained from purchasing under the ultra-low interest rate environment, so the duration on the asset side is significantly shorter, and we still have room to buy,' Morizane said. The possibility of higher rates does not pose any immediate risk to Fukoku's existing bond portfolio, he said. As of the end of the 2024 fiscal year, the company's duration was 15.9 years for liabilities and 9.6 years for assets, resulting in a gap of 6.3 years. Accounting standards stipulate that when the market value of a bond holding falls below 50% of the acquisition price and there is no prospect of recovery, the valuation difference must be recorded as a loss. "We are still some way off from impairment, and do not view this as an urgent issue,' said Morizane.
Bloomberg
18-07-2025
- Business
- Bloomberg
Fukoku Life Plans to Step Up Japanese Government Bond Purchases
Fukoku Life Insurance may increase its purchases of Japanese super-long bonds just as the nation's debt market trembled this week ahead of upper house elections. The insurer has raised its local bond purchase target for the current fiscal year to several hundred billion yen from the initially planned 30 billion yen, and is focusing on Japanese government debt to capitalise on higher super-long-term interest rates.
Bloomberg
15-07-2025
- Business
- Bloomberg
Bulgaria Returns to Bond Market After Upgrades on Euro Approval
Bulgaria is tapping the international debt market for the second time in 2025, capitalizing on credit-rating upgrades spurred by its entry into the euro area next year. The government is offering a benchmark-sized euro-denominated 10-year note, with initial price talk in the area of 135 basis points over mid-swaps, according to a person familiar with the matter who asked not to be identified. The potential sale, which may price Tuesday, also includes a benchmark 20-year bond at about 180 basis points over mid-swaps.
