Data Center Lending & Investment - Bank of England is probing data center lending due to concerns about potential air bubbles [1] - Initially, data center investments were primarily funded by well-capitalized hyperscalers using their own resources [2] - There's an anticipated $5 trillion spending up to 2034 for data centers and compute infrastructure to fuel the viewpoint [5] - Increased debt issuance is being observed, suggesting a broader range of financing is needed to meet investment targets [3] Market Valuations & Credit - Extreme valuations are present, but there's a distinction between extreme valuations and an air bubble [3] - Active credit managers have an opportunity to vet and potentially gain added yield in the data center space [6] - Caution is advised when adding debt, with attention to tight credit spreads as a potential valuation risk [6] Trade Policy & Earnings - Despite significant shifts in trade policy, no immediate discernible impact on earnings or inflation has been observed [8][9] - The long-term implications of globalization on earnings have been positive for the US and globally, suggesting a potential headwind as globalization rolls back [10] - Trade talks with Canada are ongoing with lingering volatility within the market [12] Market Valuations & Opportunities - US market valuations are generally high across sectors, with the exception of healthcare [13][15] - Valuations are in the ninth and tenth deciles relative to their own history, impacting prospective three-year returns [14] - Healthcare is identified as a more attractively priced area with potential benefits [16]

Uzbekistan, Central Asia’s second biggest economy, is seeking to diversify its debt issuance after successful forays into the sustainable bond market https://t.co/Ly750vNCWy ...

Core Viewpoint - Bombardier Inc. has successfully priced an offering of US$250 million in Senior Notes due 2033, which will be a further issuance of its existing US$500 million 6.750% Senior Notes due 2033 [1][3] Group 1: Offering Details - The Additional Notes will carry a coupon of 6.750% per annum and will be sold at a price of 103.500% plus accrued interest from May 29, 2025 [1] - The issuance is expected to close on or about September 18, 2025, subject to customary closing conditions [2] Group 2: Use of Proceeds - Bombardier intends to use the proceeds to fund the repayment and/or retirement of outstanding indebtedness, including the redemption of all remaining 7.125% Senior Notes due 2026 and approximately US$84 million of 7.875% Senior Notes due 2027 [3] - As of the announcement date, there is US$166.289 million outstanding of the 2026 Notes and US$183.142 million outstanding of the 2027 Notes [3] Group 3: Conditions and Assurances - The consummation of the offering and the Conditional Notes Redemptions are subject to market and other conditions, and there is no assurance that Bombardier will successfully complete these transactions [4]

The Turkish wealth fund is in talks with international lenders to explore a potential dollar debt issuance in September, according to people familiar with the matter https://t.co/IweZzHfLWZ ...

Core Viewpoint - Marex Group plc has successfully priced a public offering of $500 million in Senior Notes with a 5.829% interest rate, due in 2028, which will enhance its funding sources and support business expansion [1][2]. Group 1: Offering Details - The public offering consists of $500 million aggregate principal amount of Senior Notes, priced at 100% of the principal amount [1]. - The expected closing date for the offering is around May 8, 2025, pending customary closing conditions [2]. - The net proceeds from the offering will be utilized for working capital, funding growth, and other general corporate purposes [2]. Group 2: Management Commentary - Ian Lowitt, CEO of Marex, highlighted that the successful debt issuance diversifies funding sources and strengthens liquidity, allowing the company to better support its clients [2]. Group 3: Underwriters - Barclays, Goldman Sachs & Co. LLC, and Jefferies are acting as joint book-runners for the offering [2]. Group 4: Regulatory Compliance - The offering is made under Marex's existing effective shelf registration statement filed with the U.S. SEC, and will be conducted via a preliminary prospectus supplement and accompanying base prospectus [3].