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Corporate Bonds
Everything Briefed has filed against Corporate Bonds, most recent first.
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Lambda prices $917m loan to buy the chips Nvidia leases backLambda has priced a $917 million leveraged loan, backed by Morgan Stanley, to fund a GPU purchase that Nvidia will then partly rent back under a deal reportedly worth $1.3 to $1.5 billion over four…Air Canada prices its loyalty scheme at C$10 billionBlackstone and Quebec's La Caisse are paying C$2.5 billion for a 25% stake in Aeroplan, alongside PSP Investments and BCI, in a deal that values the points programme alone at C$10 billion, accordin…Alphabet's bond sale pulls in $115bn for a deal a fraction that sizeInvestors offered $115bn for Alphabet's latest jumbo bond issuance, a demand-to-issuance ratio that shows how starved fixed income buyers are for high-grade paper from companies with Alphabet's bal…CoreWeave's investors just forced it to rethink its Anthropic debtCoreWeave backing down on debt structured against future Anthropic contract revenue signals that bond investors are no longer willing to take AI compute demand on faith, even from a company with Nv…BMO just moved $5 billion of corporate loan risk off its balance sheetBMO has completed significant risk transfer (SRT) deals covering $5 billion in corporate loans, a mechanism that lets banks offload credit risk to institutional investors like pension funds and ins…BlackRock's Meta data centre bond sale is the AI debt market's best news in monthsBlackRock raised $12.5 billion in debt for Meta's Louisiana data centre and the deal rallied rather than flopped, a meaningful data point after a string of AI infrastructure bonds struggled to find…Aston Martin pushes through a £550m debt deal despite creditors saying noAston Martin has secured a £550m loan deal in the face of explicit creditor objections, which means the carmaker judged its cash position urgent enough to override the people it owes money to. Cred…SpaceX slipping below its IPO price is the market pricing Musk risk, not Starlink riskShares dipped under the listing price for the first time since going public, and bond yields are drifting toward junk territory, which is a much bigger tell than the equity move. Starlink revenue a…Oncoclinicas' debt rework is a warning on Brazilian healthcare leverageAn out-of-court restructuring is the polite version of a company admitting it overbuilt on borrowed money. Oncoclinicas, Brazil's largest oncology clinic network, is reportedly filing for an out-of…Japan's convertible bond comeback is a direct consequence of the Bank of Japan's rate normalisationConvertible bonds are back in favour in Japan as rates continue to rise, and the logic is not complicated: as fixed-income yields climb, the equity-upside optionality embedded in convertibles looks…Dish files for bankruptcy with $9bn in debt. The satellite TV era is formally over.Dish DBS has filed for bankruptcy to restructure $9bn in debt, following the collapse of a deal with AT&T that would have provided a route forward for the satellite TV business. Dish is not shuttin…Moody's cuts Travelodge deeper into junk as UK budget hotels struggleMoody's has downgraded Travelodge deeper into speculative grade territory, citing weaker operating performance and deteriorating leverage that leaves the UK budget hotel chain with limited headroom…Corporate Japan borrows again as deals pressure ratingsJapanese companies are abandoning their decades-long deleveraging mindset to fund aggressive M&A and higher shareholder returns, spooking credit rating agencies. The shift marks a reversal from the…McKesson unit prices $2.25bn loan ahead of IPOThe medical-surgical distributor secured leveraged financing following Apollo's $1.25 billion convertible investment at a $13 billion valuation.Ellison privately vows to control debt in $108bn Paramount-WBD dealLarry Ellison is telling credit analysts he'll "do whatever it takes" to reduce leverage at a combined Paramount-Warner Bros Discovery, backing his $108 billion hostile bid with personal guarantees…Hong Kong's Sogo races to refinance HK$8bn loan before June deadlineLifestyle International is scrambling to refinance an HK$8 billion loan secured against Sogo's Causeway Bay flagship store with less than a month until maturity. Lenders paused routine earnings cov…Global banks fill Australia's A$40bn AT1 voidUBS issued the first AT1 bond in Australian dollars since APRA decided to phase out domestic bank hybrids, and the deal was heavily oversubscribed. Australian banks cannot issue new AT1 capital aft…NTT Finance delays yen bond as JGB yields spikeNTT Finance has postponed a planned yen bond issue until June or later, becoming the latest casualty of Japan's savage government bond selloff. The delay comes as JGB yields have climbed sharply, m…AI capex binge overwhelms bond markets, pushes Alphabet overseasWall Street's AI financing machine is hitting capacity constraints. Alphabet's $17 billion bond sale was still being priced when the company started hawking additional debt, forcing underwriters to…Wall Street asks if China's property bottom is real as Vanke begs for timeChina Vanke, the country's second-largest developer, is seeking bondholder approval to delay payments after initially declaring the property downturn had bottomed out, then retracting the call. Wit…Taiwan insurers pivot hedging strategy, cementing bond market dominanceTaiwan's life insurers have quietly become the world's largest foreign holders of US corporate bonds, owning over $400 billion in American debt. Their hedging strategy shifted dramatically last yea…AI hyperscalers set to outborrow America's biggest banksThe bond market's new kings aren't wearing suits. AI hyperscalers borrowed $121 billion last year — more than four times their historical average — and analysts expect them to hit $140 billion annu…