Key Points
(Bloomberg) -- The day after Easter is often quiet for company bond sales in the US, but its proving to be anything but on Monday. . Adobe Inc. is in the high-grade market looking to raise cash to help pay for capital expenditures, stock buybacks and acquisitions, one of seven companies selling notes..
Japanese e-commerce company Rakuten Group Inc. is selling a $1.25 billion junk bond to repurchase notes that mature this year and further out, one of four deals in the market..
In leveraged loans, seven new deals kicked off, including a $1.25 billion offering to fund Endo International Plcs exit from bankruptcy, and a $400 million loan from private prison operator Geo Group Inc. ..
We may continue to see supply surprise to the upside, as a combination of M&A activity and insatiable demand from investors to lock in relatively attractive all-in yields before the Fed decides to implement its easing program," said David Schiffman, lead portfolio manager for the Aquila High Income Fund at Aquila Investment Management..
Even in structured finance activity has been relatively strong, GM Financial is premarketing $1.32 billion of prime auto loan asset-backed securities while a separate $110 million equipment finance loan and lease asset backed offering from Commercial Equipment Finance is also in the queue..
