Bond market data and technology, BondEvalue

BondEvalue

Bond market data and technology

BondEvalue is a Singapore-based Fintech that specializes in bond market data and technology. The company's information services business offers bond market data on hard-currency corporate & sovereign bonds across Asia, Middle East, Europe and the Americas. The data, which includes bond prices, yields, news and analytics, is offered to end investors via interactive Mobile and Web Apps. Investors can sign up for a free trial of the service either via the company's website (https://bondevalue.com) or by downloading the BondEvalue Mobile App (http://onelink.to/wej7jq). BondEvalue is also developing an electronic bond exchange, BondbloX in Singapore that allows investors to trade bonds electronically in smaller sizes (US$1,000 or equivalent). For more information, visit https://www.bondblox.com/

Bond Market Data and Technology

Credit

Credito Real defaulted on the principal payment of its CHF 170mn ($180mn) 2.875% bond due February 9 and was subsequently downgraded by Fitch to RD. from CC. Fitch also downgraded its unsecured debt notes to C/RR4 from CC/RR4. “Potential cross-acceleration clauses in its other debt may be triggered by the non-payment of the Swiss bond”, Fitch added. The bond does not have a grace period and Credito Real’s negotiation efforts to make the payment have still not yielded any result. Separately, Credito Real’s board members voted to replace five members of the board and to include more independent directors. Looking forward, Credito Real has $249mn of bonds that come due in July 2023. The company hired  DLA Piper  and  FTI Consulting  to explore restructuring options with Fitch noting that if the debt restructuring is initiated it would constitute a Distressed Debt Exchange (DDE) (Term of the Day, explained below) .

Credito Real Defaults on CHF Bond; Downgraded to RD by Fitch

Asia High Yield Bond Index

Credito Real Defaults on CHF Bond; Downgraded to RD by Fitch