Credit-Default Swap Market
|New Issues||New Issues [Continued]|
1. Summer (BC) Holdco B SA R.L. (EUR) 5.75% 10/31/2026 Reg S (10/23/2019): 1000MM Secured Notes, Price at Issuance 100, Yielding 5.75%.
2. Burford Capital PLC (USD) 6.125% 8/12/2025 (10/23/2019): 180MM Senior Unsecured Notes, Price at Issuance 100, Yielding 6.13%.
OVERALL EUROPEAN CREDIT MARKET:
The euro-zone economy shows signs of negative momentum, weakening credit rating quality, and uncertainty regarding the outcome of Brexit. Closely watched indicators and rates:
- Eurostat's unemployment rate: currently 7.5% (seasonally adjusted, May 2019)
- Eurostat's quarterly GDP: 0.4% (2019 Q1)
- 6-month Euribor: current value -0.351%, as of 10/22/2019
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