债券市场新动向:公司加速售债

原文发表于美国时间2022-1-12


发生了什么事情?


周二公布的数据显示,公司们在上周出售了价值逾1000亿美元的公司债券,公司大笔售债发生在它们不得不采取更激进的募集资金方法之前。

这意味着什么?


债券市场在每年的第一周都是异常繁忙的,不过2022年的首周比大多数年份还要繁忙一些,尤其是公司们想在美联储加息推高借贷成本之前争先恐后地募集资金。

实际上,新年首周出售超过1000亿美元的公司债券是有史以来的第二高新年第一周售债记录。

投资者也不仅仅是在买入低风险的债券:受疫情影响严重的邮轮公司皇家加勒比在上周募集到10亿美元的资金,在疫情严重时期濒临破产的AMC院线也考虑加入售债的行列。

为何值得关注?


更大的图景:关键的时间窗口


公司们出售债券的行动是正确之举,上周有报道称美联储正考虑较市场预期更快地上调利率。

交易者正押注在2024年初之前最多可能有八次加息,公司出售债券的成本可能很快会高昂起来。

投资者也做出应对:他们已经开始撤下对新发行债券的订单,并预期在几个月之后再买入这些债券会享有更高的收益率。

聚焦:融资渠道

公司们不仅依靠出售公司债券融资,还通过风险投资融资也就不难以理解了。

据报道,土耳其百货外卖送货公司Getir正寻求逾10亿美元的风投资金,这将使得该公司的估值达到120亿美元。

这是一个野心勃勃的目标,不过他们可能正当其时:美国的风投基金去年募集到了创纪录的现金。


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这篇文章已被翻译成中文。原英文作者Finimize。如英文版本和中文版本之间有任何不一致,以英文版本为准。该文章中的分析仅为提供信息,不是也不应该被视为推销或招揽购买任何证券。文章中讨论的一般市场活动、行业或领域趋势、或其它基于广泛的经济或政治条件的内容,不应被解释为研究结果或投资建议。讨论中提及包括的特定证券、商品、货币、或其它产品均不构成IB推荐购买,出售或持有此类投资的建议。本材料不是也不意图针对个别客户的特定财务条件、投资目标或要求。在根据本材料采取行动之前,您应该考虑是否适合您的具体情况,并在必要时寻求专业建议。


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