Paris, 08 January 2026 Air France-KLM announces the successful issuance of a 650 million euros note under its EMTN Program AF-KLM successfully placed a €650 million senior unsecured notes under its EMTN (Euro Medium Term Notes) Program. The maturity ...

日本政府向外汇市场投机者发出了迄今为止最强烈的警告。日本财务大臣片山皋月明确表示，针对背离经济基本面的汇率波动，日本拥有采取大 胆行动的"自由裁量权"（free hand）。 22日，据彭博报道，片山皋月在周一的采访中指出，近期市场的波动显然是投机性的，而非基本面的反映。她强调，根据日美财政部长的联合声 明，日本已明确将对这种走势采取"大胆行动"。此前，尽管日本央行将借贷成本上调至30年来的最高水平，日元汇率不升反跌，不仅兑美元汇率 走软，兑欧元更是一度触及历史新低。 日本财务省负责国际事务的副大臣Atsushi Mimura同日表达了对日元"单边"和"突然"波动的"深切关注"。据英国《金融时报》报道，Mimura指出政 府希望对过度的市场波动采取"适当应对"，这一措辞被交易员视为干预行动可能迫在眉睫的信号。周一晚间，日元兑美元汇率徘徊在157.49附 近。 获美方默示"绿灯" 市场对日本政府干预的猜测正值日本债市剧烈波动之际。由于日本央行行长植田和男未能就未来的紧缩步伐发出强硬信号，加之新任首相高市早 苗政府推出的大规模财政刺激计划引发了对债务发行的担忧，日本10年期国债收益率周一一度攀升至2.1%，创下2 ...

Core Viewpoint - Investors are concerned about Iren's new debt issuance and share offering, which led to a significant drop in the company's stock price by over 15% in one day [1]. Group 1: Debt Issuance - Iren plans to issue $2 billion worth of convertible, unsecured senior notes, divided into two tranches of $1 billion each [2]. - The first tranche will mature in 2032, and the second in 2033, with options for initial buyers to purchase an additional $150 million in each tranche [3]. - The notes will be convertible into ordinary shares, cash, or a combination of both, and are redeemable after December 6, 2028 [4]. Group 2: Share Offering - In addition to the debt issuance, Iren intends to issue ordinary shares in a registered direct offering, although the number of shares to be sold has not been specified [5]. Group 3: Financial Impact - The net proceeds from the debt and share offerings will be used to repurchase existing convertible notes and for general corporate purposes and working capital [7]. - As of the end of September, Iren's long-term debt was $964 million, with a market capitalization of $11.7 billion [7].

Core Viewpoint - The financial competition between China and the United States has intensified, with both countries resorting to issuing government bonds to bolster their economies amid rising debt levels and inflation concerns [1][5]. Group 1: U.S. Debt Issuance - The U.S. government has been actively issuing bonds as a key method to raise funds, with a notable shift towards auctioning long-term bonds to counteract declining investor confidence in the economy [2][4]. - The Federal Reserve's prolonged high-interest rate policy has led to skepticism regarding the U.S. economic outlook, resulting in a growing preference for short-term bonds among investors [4][5]. - As of now, the total U.S. government debt has reached approximately $34.7 trillion, leading to an estimated per capita debt of around 750,000 RMB for the American population [9]. Group 2: China's Debt Issuance - In May, China's debt market saw the issuance of approximately 68,624.9 billion RMB in various debt instruments, including government bonds, local government bonds, and corporate bonds, aimed at boosting domestic economic confidence [6][12]. - The Chinese government has been more restrained in its debt issuance compared to the U.S., with a per capita debt estimate of about 20,000 RMB, significantly lower than that of the U.S. [9][11]. - The funds raised through China's debt issuance are primarily allocated to domestic infrastructure and development projects, contrasting with the U.S. approach of funding military and financial markets [8][11].

Core Viewpoint - Rexel has successfully placed €400 million of its 4.000% unsecured senior notes due 2030, enhancing its financial structure and extending its debt maturity profile at favorable financing conditions [1][3][4]. Company Overview - Rexel is a global expert in multichannel professional distribution of products and services for the energy sector, addressing residential, non-residential, and industrial markets [7]. - The company operates over 1,950 branches in 17 countries and employs more than 27,000 people, with sales reported at €19.3 billion in 2024 [7]. Financial Details - The senior notes will mature on September 15, 2030, and are callable from September 2027, ranking pari passu with Rexel's senior credit facility and other senior unsecured notes [3]. - The expected ratings for the notes are Ba1 by Moody's and BB+ by S&P, both with a stable outlook [3]. Use of Proceeds - The proceeds from the issuance of the notes will be utilized for general corporate purposes [3].

Core Viewpoint - The U.S. Treasury Secretary, Janet Yellen, stated that the U.S. banking sector will take on more debt issuance in the near future [1] Group 1 - The U.S. banking industry is expected to increase its debt issuance as part of its financial strategy [1] - This shift may indicate a response to current economic conditions and regulatory changes affecting the banking sector [1]