Companies’ hesitancy to tap the bond markets following the collapse of Silicon Valley Bank will likely be short-lived, S&P CFO Ewout Steenbergen tells me for Bloomberg News. “When there’s so much market noise, short term, it will absolutely impact the willingness of issuers to go to the market,” Mr. Steenbergen said.
Grab Holdings Retires $600 Million in 2026 Debt With Extra Cash
Grab Holdings Ltd. on Monday said it prepaid $600 million in debt ahead of a 2026 maturity, taking advantage of excess cash on its balance sheet.
Quirky Bond Trade Gives Companies a Way to Cut Borrowing Costs
Companies are taking advantage of price discrepancies in the debt and derivatives markets that give them a way to trim their borrowing costs – enter the 3NC1. Investors eager to take advantage of rising interest rates are buying the debt even if they only earn the extra yield for a year.
Cheniere Energy to Pay Off More Debt with Investment-Grade Score
Cheniere Energy, an operator of liquefied natural gas terminals, plans to extinguish more of its debt after it secured a second investment-grade credit rating, the company’s finance chief told me for Bloomberg News.
With the Easy Money Gone, Executives Tighten Belts by Slashing Dividends
Cutting dividends is a step that finance executives usually try to avoid, as it can prompt investors to move their money elsewhere. But, squeezed by higher interest rates, tighter profit margins and an uncertain economic outlook, some executives are tightening their companies’ belts at the expense of shareholders.
GXO Looks at Selling High-Grade Bonds and Plans to Cut Debt
My first story for Bloomberg News: GXO Logistics is looking to sell bonds to refinance outstanding bank loans while also bringing down its debt levels as interest rates rise.
This was my first week with Bloomberg in New York. Working here has been a dream of mine for many years. I will be leading a team of reporters in the Credit Americas division, covering structured finance, ESG, Latin American & Canadian credit markets and investment-grade new issuances.
Friday was my last day at the Wall Street Journal. I am very grateful for all the things I learned, and the opportunities I was given. It’s been a privilege to work with so many smart and principled people. Being part of the Journal has meant a lot to me. Thank you all!
WSJ News Exclusive: Fanatics Hires CFO for Collectibles Business After Topps Deal
Sports-merchandise retailer Fanatics has hired a finance chief for its collectibles business, which is set to expand beyond baseball cards in the coming years.
Fed Rate Increases Upended Funding Markets in 2022. Here’s What CFOs Can Expect in 2023.
Companies continued to feel the pinch of higher financing costs in 2022. As the Fed gets ready to unveil its next rate increase, finance chiefs are looking for clues on where rates might go in 2023.