Corporate

Most corporate bonds are issued by unlisted companies, with an average coupon rate of 10 per cent over the previous year, with some rates as high as 13 per cent. In 2019, real estate firms issued the largest share of bonds representing 37.2 per cent of issuance value, banks took second place with 22.8 per cent, and tourism/hospitality companies issued 16.6 per cent. As companies recover from the financial impacts of the COVID-19 pandemic, the issuance of corporate bonds is likely to continue rising as traditional credit growth slows. … [Read more...] about Government urges caution on corporate bond risks

The corporate bond market has adopted greater transparency following the draft revision of Decree No.163/2018/ND-CP dated December 2018. This draft is likely to take effect with the Law on Securities 2019, on January 1, 2021. Although the revisions did not take effect immediately, the State Securities Commission of Vietnam has begun to tighten issuance regulations this year as follows: … [Read more...] about Corporate bond activity welcome as market shocks persist unabated

Vasant More takes out anger over wait for ambulance, cremation on PMC depot Vasant More, the Maharashtra Navnirman Sena (MNS) corporator, believes he is in a banana republic, where to make a point he has to resort to vandalism. Around Monday noon, he walked into the vehicles depot of Pune Municipal Corporation (PMC) and wrecked the car of the depot head. He was protesting the protracted time taken for an ambulance to arrive to pick up his relative’s body and then the long wait at the crematorium. He wonders the predicament of common citizens if this was his situation. Civic body officials pointed out that the time taken was dictated by the strict protocol in place for the pandemic. More’s brother-in-law passed away on Sunday afternoon. The corporator’s complaint is that the ambulance arrived almost four hours after being summoned and that too after repeated calls. Then the wait in the queue at the crematorium resulted in the cremation happening late at night. He was … [Read more...] about MNS corporator’s mode of protest is vandalism

Chennai: Chennai Petroleum Corporation, an IndianOil Group company, Friday said that the Rs 1,858 crore BS-VI auto fuels quality project taken up by it was expected to achieve 'mechanical completion' by December 2019. To meet BS-VI fuel quality norms which would come into effect from April 1, 2020, CPCL was revamping the existing diesel hydro-treating unit from 1.8 to 2.4MMTPA (Million Metric Tonnes Per Annum) along with new Sulphur Recovery Unit, company Chairman Sanjiv Singh said. CPCL was also engaged in installing a new 0.6 MMTPA capacity FCC gasoline desulphurisation unit with associated facilities. The total cost of the project is Rs 1,858 crore, he said in the company's 53rd annual report. CPCL achieved a throughput of 10.695 MMTPA in 2018-19 as compared to 10.789 MMTPA in the previous year. "All major equipment received at site and construction is in an advanced stage.The units are expected to be mechanically completed during September-December 2019", he said. On the … [Read more...] about Chennai Petroleum Corporation revamping existing diesel hydro-treating unit

Corporate bond issuance expected to drop after new policies take effect Warnings from management agencies plus new policies that take effect soon will make it more difficult to issue corporate bonds, a capital mobilization channel that was worth $8.5 billion in the first seven months of the year. … [Read more...] about Investors still pouring money into corporate bonds, despite warnings