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Corporate Bonds

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  • Chinese property developer Kaisa Group, illustrates the challenges for investors holding uninsured corporate debt: Kaisa is trying to restructure 48 billion yuan of debt and is mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its projects last year, leaving investors shell-shocked. A debt restructuring plan...

  • Five themes Asia investors need to know Thursday, 19 Mar 2015 | 8:50 PM ET
    An Indonesian man looks at a running display showing share prices at the stocks exchange building in Jakarta.

    Volatility has become a market hallmark this year and investors across Asia are grappling with a slew of issues. Here are the top five themes.

  • BUENOS AIRES/ NEW YORK, March 18- Citigroup Inc will not appeal a U.S. judge's ruling that it cannot process an Argentine sovereign debt payment if he helps the bank exit its custody business in the default-hit country as swiftly as possible, its lawyer said on Wednesday. District Judge Thomas Griesa in New York to suspend his order blocking payments to enable the...

  • SYDNEY/ NEW YORK, March 18- Australia's Fortescue Metals Group Ltd, the world's fourth-largest iron ore miner, pulled a $2.5 billion high-yield bond issue after investors rattled by tumbling ore prices balked at the offer, sending its shares to six-year lows. The scrapped refinancing deal is the latest sign of anxiety about massive oversupply in the iron ore...

  • SYDNEY/ NEW YORK, March 18- Fortescue Metals Group Ltd, the world's fourth-largest iron ore miner, has pulled a $2.5 billion high-yield bond issue after a weak response from investors worried about tumbling iron ore prices. Fortescue, which had net debt of $7.5 billion at Dec. 31, had been looking to push out any debt repayments by up to four years to 2021 and cut its...

  • NEW YORK/ SYDNEY, March 18- Fortescue Metals Group Ltd, the world's fourth-largest iron ore miner, has pulled a $2.5 billion high-yield bond issue after a weak response from investors who were concerned about a sharp drop in iron ore prices. Investment banks Credit Suisse and JP Morgan, lead managers for the issue, had first tried to arrange refinance for Fortescue...

  • NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custody business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. In a defeat for the bank, clients and Argentina itself, Citigroup said it made its decision in light of U.S.

  • NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. In a defeat for the bank, clients and Argentina itself, Citigroup said it made its decision in light of...

  • UPDATE 1-Citigroup to exit Argentina custody business Tuesday, 17 Mar 2015 | 9:42 AM ET

    NEW YORK, March 17- Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. District Judge Thomas Griesa in Manhattan, Citigroup said it made its decision in light of his March 12...

  • NEW YORK, March 16- A U.S. housing regulator urged a federal judge on Monday to award it $1.1 billion due to false claims made about "crap" mortgages underlying securities sold by Nomura Holdings Inc to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis. At the start of a trial in Manhattan federal court, a lawyer for the Federal Housing Finance Agency said...

  • BUENOS AIRES, March 13- Argentina on Friday demanded banks operating in the country process bond interest payments despite a U.S. court ruling that prohibited Citigroup Inc from distributing coupon payments on the country's local law bonds. Citigroup is one of several international financial institutions caught up in Argentina's lengthy legal feud with...

  • NEW YORK, March 13- A U.S. housing regulator is set to take two of the world's biggest banks to trial on Monday to try and recoup more than $1 billion in damages over mortgage bonds sold to government-run mortgage finance companies ahead of the 2008 economic crisis. Lawyers for the regulator will face off with attorneys of Nomura Holdings Inc and Royal Bank of...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it attempts to re-enter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • HONG KONG, March 11- Some of developer Kaisa Group's bondholders are pushing for better debt restructuring terms, such as a guarantee for their bonds from Sunac China which has proposed a takeover of its rival, sources familiar with the matter said. This week, Kaisa unveiled a plan for $2.5 billion of its offshore and convertible debt, under which the maturity on...

  • Energy's struggles are far from over: Analyst Tuesday, 10 Mar 2015 | 3:52 PM ET
    A floor hand works on an oil rig in the Bakken shale formation outside Watford City, N.D.

    Falling oil stocks and distressed oil company bonds point to the sector's struggles continuing, a credit analyst said.

  • "That relative value trade is what is driving the market, more than anything else," said Larry Milstein, head of U.S. government and agency trading at R.W. Pressprich& Co. in New York. Germany's 10- year bund fell to a record low of 0.23 percent on Tuesday, the second day of European Central Bank purchases under a 1 trillion-euro program meant to revive inflation and...

  • Citi: Here's why these shares could surge 70% Tuesday, 10 Mar 2015 | 8:26 AM ET
    A trader at the Frankfurt Stock Exchange

    The European economy may appear mired in low growth and low-flation, but shares there may surge as much as 70 percent by end-2016, Citigroup said.