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Credit

SAVE

Spirit Airlines has filed for bankruptcy and entered a restructuring agreement with its bondholders to reduce its debt.

Portfolio Pulse from

November 18, 2024 | 11:30 am

FAT

FAT Brands has announced the refinancing of the Twin Peaks credit facility, marking a significant step before the planned public listing of Twin Hospitality Group.

Portfolio Pulse from

November 18, 2024 | 11:15 am

IHRT

iHeartMedia, Inc. (NASDAQ: IHRT) has announced exchange offers and consent solicitations for its existing notes and term loans, including Senior Secured Notes due in 2026, 2027, and 2028.

Portfolio Pulse from

November 18, 2024 | 11:15 am

IGLB

The article discusses the negative outlook on interest rates due to Trump's policies, which could lead to inflation and affect long-duration bonds like IGLB. Credit spreads are at historical lows, offering no value angle.

Portfolio Pulse from

November 18, 2024 | 10:45 am

SAVE

Spirit Airlines has filed for bankruptcy protection due to mounting losses following a failed acquisition by JetBlue Airways, an engine recall, and weaker sales. The company is also facing a deadline to renegotiate $1.1 billion in debt payments due next year.

Portfolio Pulse from

November 18, 2024 | 10:30 am

SAVE

Spirit Airlines has announced a restructuring support agreement to deleverage its balance sheet and position itself for long-term success. The company has commenced voluntary prearranged Chapter 11 proceedings and secured $350 million in equity investment and $300 million in debtor-in-possession financing. Operations will continue as normal.

Portfolio Pulse from

November 18, 2024 | 10:00 am

WRDLY

Worldline has announced the launch of a new bond issuance. The press release specifies that the information is not intended for distribution in the United States or other specified jurisdictions.

Portfolio Pulse from

November 18, 2024 | 8:45 am

TGS

TGS ASA, a global leader in energy data and intelligence, has announced the launch of a Senior Secured Notes offering with an expected principal amount of $550 million, maturing in 2030.

Portfolio Pulse from

November 18, 2024 | 8:45 am

VNLA

The Janus Henderson Short Duration Income ETF (VNLA) has seen its yield decrease to 4.86% due to Federal Reserve rate cuts, offering a minimal spread over effective Fed Funds. With a significant portion of its portfolio in BBB-rated corporate bonds, VNLA is exposed to credit risk, making its risk/reward profile less attractive compared to alternatives like AAA CLO ETFs.

Portfolio Pulse from

November 18, 2024 | 5:15 am

CTRYF

Country Garden has submitted a preliminary offshore debt restructuring proposal to creditors to avoid liquidation. This move is crucial for the indebted Chinese property developer.

Portfolio Pulse from

November 18, 2024 | 4:15 am