Corporate Debt

Ardelyx Secures $27.5 Million Debt Financing From SLR Capital

Edward Kim | |

The funds come at a critical time for the embattled biotech.

Global Corporate Debt To Increase by $600 Billion in 2021: Janus Henderson

Reuters | |

Global corporates' net debt will increase by as much as $600 billion this year as they start to spend some of the cash piles accumulated during the pandemic, a study by asset manager Janus Henderson said on Wednesday.

Companies borrowed a record $1.3 trillion last year but took a cautious approach towards spending it, which left them sitting on some $5.2 trillion in cash, Janus Henderson said.

Rolls-Royce Plans to Raise $6.5 Billion To Cope With Coronavirus Cash Crunch

Reuters | |

Rolls-Royce plans to raise a total of 5 billion pounds ($6.5 billion), including 2 billion from shareholders, to cope with a "worst case scenario" as the coronavirus travel crisis crushes the British engine maker's cashflow.

Airlines pay Rolls based on how many hours its engines fly in their larger jets and worries over a long-haul travel slump have knocked more than 80% off its shares this year, reducing its market value to just 2.5 billion pounds.

Nissan Motor To Issue $8 Billion in US Dollar-Denominated Debt

Reuters | |

Japan's Nissan Motor Co will issue $8 billion in dollar-denominated debt and is considering euro-denominated bonds, it said on Friday, as the troubled automaker looks to diversify its funding.

The bond sale is its first dollar-denominated issuance since its tie-up with France's Renault SA in 1999, a Nissan representative said.

It comes as investors have expressed deepening concern about Nissan, which has warned of a record $4.5 billion loss this year as...

TUI Posts $1.3 Billion Quarterly Loss; Considering Equity Offering and Divestments To Reduce Debt

Reuters | |

TUI, the world’s largest tourism company, said it was considering raising new equity from shareholders or selling off parts of the business to reduce debt taken on to survive the coronavirus pandemic.

TUI, which last year took 23 million people on holiday, lost 1.1 billion euros ($1.3 billion) in the three months through June after COVID-19 halted travel, wiping out revenue and straining its balance sheet as it burned through about 550 million to 650 million euros per month.

Alphabet Issues $10 Billion in Investment Grade Debt; 5-Year Tranche at 0.45%

Reuters | |

By Kate Duguid

NEW YORK (Reuters) - Alphabet Inc borrowed $10 billion in the investment-grade corporate debt market on Monday, the Google parent’s largest ever bond issue, which it secured at its lowest-ever cost of financing.

Of the $10 billion on offer, the $1 billion five-year tranche was issued at a coupon of 0.45%, the lowest coupon seen at that maturity since Apple Inc issued a $1.5 billion five-year note at 0.45% in 2013.

Investor appetite was fierce for the tec...

Global Corporate Debt Issuance To Hit $1 Trillion in 2020

Reuters | |

Companies around the world will take on as much as $1 trillion of new debt in 2020, as they try to shore up their finances against the coronavirus, a new study of 900 top firms has estimated.

The unprecedented increase will see total global corporate debt jump by 12% to around $9.3 trillion, adding to years of accumulation that has left the world’s most indebted firms owing as much as many medium-sized countries.

Last year also saw a sharp 8% rise, driven...

Big Oil Raised Record Amount of Debt in Second Quarter, Driven By Coronavirus Pain

Reuters | |

The world’s top oil and gas companies locked in cheap borrowing rates to raise a record amount of debt in the second quarter of 2020 and boost cash reserves as a buffer against a collapse in revenues because of COVID-19.

The dash for debt piles pressure on company balance sheets and the issue is particularly acute for BP (BP.L) and Royal Dutch Shell (RDSa.L). Already burdened by high levels of borrowing, they also face the disruption of a major s...

BP Quarterly Profit Falls By Two Thirds, Debt Climbs To Highest Ever, Dividend Maintained

Reuters | |

BP’s first-quarter profit tumbled by two thirds and its debt climbed to its highest on record as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty. London-based BP said it expected significantly lower refining margins in the second quarter when global restrictions on movement to halt the spread of the virus reached their peak, throttling consumption of gasolin...

AT&T Misses Revenue Estimates, Withdraws 2020 Forecast

Reuters | |

AT&T’s first-quarter revenue fell short of Wall Street expectations and the company pulled its financial forecast on Wednesday, as the impact of the coronavirus outbreak overshadowed strong growth in monthly phone subscribers. The Dallas-based phone giant is the first of the big U.S. communications companies to report quarterly results, providing a glimpse into the resiliency of the telecoms sector.Shares of AT&T were up 1% at $30.15 in pr...

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