Junk-bond investor unease resurfaces as another debt deal is pulled
New York
A MINING company pulled a junk-bond deal on Friday in the latest sign that investors are losing their appetite for riskier corporate debt.
Hecla Mining Co pulled a bond sale following the biggest week of outflows from high-yield bond funds since early May and after at least three companies scrapped plans for junk deals the previous week. The gold and silver miner was expected to finalise selling US$500 million of senior notes along with a tender offer for its 6.875 per cent securities on Friday, but withdrew the deal as "terms and conditions were not sufficiently attractive", Hecla said in a statement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea