In today’s briefing:
- Yancoal Australia Placement – Cleanup Sale by Glencore Now the Ball Is in Yankuang Court
- Asia HY Trade Book – July 2022 – Lucror Analytics
Yancoal Australia Placement – Cleanup Sale by Glencore Now the Ball Is in Yankuang Court
- Glencore is looking to raise US$293m (A$422m) from selling its stake in Yancoal Australia (YAL AU). This would be a clean up sale.
- Glencore has been sitting on its stake for a while now, and the two have a JV in the Hunter Valley Operations, the latter which commenced in Jul 2017.
- The deal, while a large one to process at 135.6 days of three month ADV, represents just 5.6% of Yancoal Australia’s current mcap.
Asia HY Trade Book – July 2022 – Lucror Analytics
The Asia HY Trade Book for July 2022 includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds across Asia (ex-Japan) HY and crossover credits.
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