(Bloomberg) -- Rakuten Group Inc. is returning to the high-yield bond market with a $1.25 billion offering, in the latest move by the debt-laden Japanese...
-- Rakuten Group Inc. is returning to the high-yield bond market with a $1.25 billion offering, in the latest move by the debt-laden Japanese online retailer to try to bolster its finances.Tesla Has Wall Street Worried About How Many Cars It Just Sold
The debt offering comes after a $1.8 billion sale in January of bonds that yielded 12.125%, a record for a listed Japanese firm issuing in US dollars. Early pricing discussions for the new issuance are for a yield in the mid-10% area, people with knowledge of the matter said. Credit-default swaps insuring Rakuten’s bonds against nonpayment has been climbing since falling in February to the lowest since 2022, in a sign that market concern about its debt quality remains elevated. Rakuten Group shares, which rose the most in two weeks Monday on its plans to reorganize its fintech business, slid as much as 4.3%.The company will use the proceeds from the new bond sale to redeem or repurchase debt due in 2024 and later, the person familiar said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rakuten Offers $1.25 Billion Junk Bond in Return to US MarketJapanese technology firm Rakuten Group Inc. is returning to the high-yield bond market with a $1.25 billion offering after a strong rally in debt it sold earlier this year.
Read more »
Truist Insurance Kicks Off $2.75 Billion Junk Bond Sale for LBOA group of debt arrangers led by Morgan Stanley kicked off marketing on a $2.75 billion high-yield bond that will support Stone Point Capital and Clayton Dubilier & Rice’s acquisition of Truist Financial Corp.’s insurance business.
Read more »
Apollo offers $11-billion for Paramount’s Hollywood studio, media report saysParamount has been restructuring some of its businesses and has invited takeover interest, according to previous media reports
Read more »
KKR Offers to Buy German Energy Firm Encavis in $3 Billion DealKKR & Co. has agreed to acquire renewable-energy producer Encavis AG in a deal that values the German company at about €2.8 billion ($3 billion).
Read more »
A $2.1 Billion Invesco Fund Offers Way to Invest in Water RisksThe fund is one of 11 US offerings that are drawing investors to a world where clean water is becoming scarcer.
Read more »
FTX expects US to reduce bankruptcy claim to $3 billion to $5 billionCrypto exchange FTX said it expects to negotiate U.S. government claims in its bankruptcy down to $3 billion to $5 billion, leaving no money for shareholders...
Read more »