Core Viewpoint - U.S. corporate bond issuance is projected to significantly increase in 2026, primarily driven by the funding needs of AI hyperscaler companies [1][3]. Group 1: Corporate Bond Issuance Forecast - Overall U.S. corporate bond issuance is expected to reach $2.46 trillion in 2026, marking an 11.8% increase from $2.2 trillion in 2025 [3]. - Net issuance is forecasted to rise to $945 billion in 2026, a 30.2% increase from $726 billion in the previous year [3]. Group 2: AI Hyperscaler Impact - The five major AI hyperscalers—Amazon, Alphabet's Google, Meta, Microsoft, and Oracle—issued $121 billion in U.S. corporate bonds last year, compared to an average of $28 billion per year from 2020 to 2024 [4]. - BofA analysts predict that these hyperscalers will borrow approximately $140 billion annually over the next three years, potentially exceeding $300 billion annually [5]. Group 3: Market Dynamics - The increase in supply to fund AI initiatives could position the five hyperscalers among the largest issuers in the investment-grade bond market [6]. - Hyperscalers accounted for four of the five largest U.S. high-grade bond deals in 2025, with significant transactions occurring in the latter half of the year [6]. Group 4: Recent Bond Deals - Notable bond deals include Oracle's $18 billion issuance in September, Meta's $30 billion deal in October, Alphabet's $17.5 billion in November, and Amazon's $15 billion issuance [7]. - The surge in borrowing by hyperscalers has led to wider credit spreads, prompting investors to utilize credit default swaps (CDS) for hedging against potential risks [7][8].

Vietnamese stocks plunge by the most in six months amid a reemergence of concerns over corporate bond issuance violations following the release of inspection results from regulators https://t.co/15EwunbmoW ...

Core Viewpoint - Luoyang Industrial Holding Group Co., Ltd. has received approval from the Shanghai Stock Exchange for the public issuance of corporate bonds aimed at professional investors, with a proposed issuance amount of 4 billion yuan [1][2]. Group 1: Bond Details - The bond is categorized as a small public offering [2]. - The proposed issuance amount is 4 billion yuan [2]. - The issuer is Luoyang Industrial Holding Group Co., Ltd. [2]. - The underwriter/manager for the bond is CITIC Securities Co., Ltd. [2]. - The bond's term will not exceed 5 years, and it can be a single-term product or a mixed product with various terms [1][2]. Group 2: Financial Utilization - After deducting issuance costs, 2 billion yuan will be used to repay interest-bearing debts, and 2 billion yuan will be used to supplement working capital [2]. Group 3: Credit Rating - Luoyang Industrial Holding Group has a comprehensive credit rating of AAA with a stable outlook, while this specific bond does not have a rating [2].