Economics >>>

    Pre-Crisis Ukraine Made Little Progress Toward EU

    Commentary by Josh Wright, Bloomberg Economist One of the largest and most resource rich countries in Europe, Ukraine has the natural endowments to outpace many of its neighbors. Yet, since the dissolution of the Soviet Union, it has lagged its peers badly. Ukraine’s performance has been downright dismal: per capita GDP is now less than a third of Poland’s versus near parity back [...]

    Investors Took More Risk For Less Reward in Q1

    After last year’s record-setting pace of U.S. bond and loan issuance, activity has slowed in the biggest leveraged finance market, partly because of diminished need to refinance. In Europe, funding costs hit an all-time low, though borrowing was also less than in 2013. In both markets, funding costs remained near all-time lows while riskier structures – like second lien – and looser [...]

    Deluxe to Use Revolver, Cash for Bond Maturity

    Deluxe Corp. plans to repay $253.5 million of bonds due Oct. 1 with cash and its revolving credit line, CFO Terry Peterson said. Click HERE for more.

    EXCLUSIVE: Freescale Evaluates Term Loan Repricing

    Freescale Semiconductor will evaluate whether to reprice a term loan when the cost of doing so drops in September and may refinance bonds next year as it seeks to further cut interest costs, said Treasurer Steve Goel. Click HERE for more.

    China’s Fragile Financial System

    China’s bloated financial sector has become a major risk for the global economy. A surge in credit, running almost unchecked from 2009 through 2013, has left banks overextended. Compounding the problem, a thinly capitalized and lightly regulated shadow banking industry accounts for a growing share of lending. China’s leaders Xi Jinping and Li Keqiang face [...]

    Kratos Mulls Bonds, Loan for June Refinancing

    Kratos Defense & Security Solutions may seek to refinance bonds in June when an early payment penalty declines, according to Chief Executive Officer Eric DeMarco. Click HERE for more.

    U.S. GDP, Initial Jobless Claims, Home Sales

    What to Watch: The U.S. probably grew an annualized 2.7 percent in the fourth quarter. U.S. initial jobless claims probably rose to 323,000 in the week ended March 22 from 320,000 the previous week. Click here to view the entire article.

    U.S. House Prices, Consumer Confidence

    WHAT TO WATCH: U.S. house prices probably rose 0.6 percent in January after a 0.8 percent climb in December. Click here to view the entire article.

    Hill Eyes Bond, Loan to Refinance Second Lien

    Hill International may refinance a 7.5 percent second-lien loan with a term loan or its inaugural bond offering this year, said company President David Richter. Click HERE for more details.

    Fed, Jobless Claims, Home Sales, Stress Tests

    WHAT TO WATCH: Emerging-market stocks slumped after investors seized on an increase in the Federal Reserve’s interest-rate forecasts and Janet Yellen’s comment that the borrowing costs could rise “six months” after bond buying stops. Click here to view the entire article.

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