CreditSights logo
Forgot Password?

Pan Brothers

Search Results

Excerpts only. To access full content please login or request a free trial.

Focused

Pan 9M18: Higher U.S. Sales Boosts Earnings

Worth Watching: 09 Nov 2018, 9:29 AM ET - Pan 9M18 or Pan Brothers (Bond Ratings: NR/ B1/ B) revenues rose by 11% YoY to $447 mn in 9M18 (9M17: $404 mn), driven by a 26% growth in sales from the U.S. and South America to $141 mn and a 10% growth in revenues from Asia to $234 mn in 9M18 ..
Focused

Pan Brothers: Purchases $29 mn of 2022 Notes

Worth Watching: 22 Oct 2018, 4:05 AM ET - Pan Brothers or Pan (Bond ratings: NR/ B1/ B) bought back $28.9 mn of its $200 mn, 7.625% January 2022 notes in a partial buyback tender offer at 95 cents. On 28 September, it had offered to purchase up to $40 mn of the notes through a modified ..

Asia Corporate Recommendations: October 2018

Asia Corporate Recommendations: 01 Oct 2018, 4:59 AM ET - We assigned an Outperform recommendation to the CGN $ bond complex and Market perform recommendations to Country Garden's new 2022 and 2024 bonds. We also raised our recommendation on Baidu 2019 to Outperform. 
Focused

Pan Brothers: Partial Tender Offer for 7.625% 2022

Worth Watching: 28 Sep 2018, 2:50 AM ET - Pan Brothers (Pan, B1/Stable, NR, B/Stable) has begun a tender offer for up to $40 mn of its $200 mn 7.625% 2022 bond. The Indonesian textile producer will conduct the tender through a modified Dutch auction process, at a bid range of 92-95 cen ..

Asia Credit Calendar: Week of 23 July 2018

Strategy Analysis: 20 Jul 2018, 12:05 AM ET - The coming week's calendar is relatively light, with mainly economic releases from Asia. Anton Oilfield will be hosting an investor call to provide its 2Q18 Operational Update next week.

Asian Corporates: Refinancing Risk

Strategy Analysis: 17 Jul 2018, 3:21 AM ET - The primary $ bond markets are not shut, but high yield corporates are finding it hard to launch new deals in these markets. We highlight some Asian corporates that we would monitor for liquidity pressure over the coming months.

Asia Corporate Recommendations: June 2018

Asia Corporate Recommendations: 01 Jun 2018, 4:20 AM ET - "Sell in May and go away" proved wise yet again. We maintain a defensive stance towards Asian high yield, despite the recent sell-off. 

Asia Corporate Recommendations: March 2018

Asia Corporate Recommendations: 01 Mar 2018, 5:39 AM ET - We raised our recommendations on Jababeka 2023 and Yingde 2020 to Outperform and raised Baidu's short-dated bonds to Market perform. We also assigned an Outperform recommendation to Agile's new perp. 

Asia Corporate Recommendations: January 2018

Asia Corporate Recommendations: 01 Feb 2018, 3:37 AM ET - We raised our recommendations on Hongqiao 2018 and Beijing Capital Land 8.375% perp to Market perform, and lowered our recommendation on Indika 2023 to Market perform. We also lowered our recommendation on MIE 2018 to Market perform. 

Asia Corporate Recommendations: December 2017

Asia Corporate Recommendations: 02 Jan 2018, 2:45 AM ET - We raised our recommendations on Evergrande 7% 2020 and 6.25% 2021 to Market perform. We downgraded our recommendation on Road King 7% perpetuals to Underperform. We revise our recommendation on Indika 2023 to Market perform.

Asia Corporate Recommendations: November 2017

Asia Corporate Recommendations: 04 Dec 2017, 2:13 AM ET - We raised our recommendation on Alam Sutera 2022 to Outperform and assigned Outperform recommendations to the new Alibaba 2027, 2037, 2047 and 2057. We also assign an Outperform recommendation to the new Anton 2020. 

Asia Corporate Recommendations: October 2017

Asia Corporate Recommendations: 02 Nov 2017, 1:46 AM ET - We raised our recommendations on Gajah Tunggal 2022 to Outperform and the Road King 7% perp to Market perform. We lowered our recommendations on Indika  2022 to Market perform and the Greentown bond complex to Underperform. 

Asia Corporate Recommendations: September 2017

Asia Corporate Recommendations: 02 Oct 2017, 6:43 AM ET - We raised our recommendations on MIE 2018, Indika 2022, and Glenmark 2021 last month. We change our recommendation on Greenland HK 2019 from Underperform to Market perform. 

European Consumer: 2017 YTD New IG Issuance

Sector Outlook: 28 Sep 2017, 11:41 PM ET - New issuance in IG European food & bev/HPC, a consolidating sector, is down year to date on 2016 whereas new issuance in IG European retail, a sector attempting deleverage, is up.   

Asia Credit: The Week Ahead, 28 August 2017

Strategy Analysis: 25 Aug 2017, 12:21 AM ET - Results season is drawing to a close. Our Chinese property analysts will be in Hong Kong next week to attend results presentations and meet issuers.  

Asian Credit: Hong Kong Client Meeting Notes

Strategy Analysis: 14 Aug 2017, 2:05 AM ET - Recurring questions and themes from our recent client meetings in Hong Kong.  These include anecdotes on the 'Chinese onshore bid' for $ bonds and what investors are buying as the reach for yield continues. 

Asia Corporate Recommendations: July 2017

Asia Corporate Recommendations: 02 Aug 2017, 1:42 AM ET - We raised our recommendations on Indonesian developers Alam Sutera and Jababeka to Market perform. Alam reported better than expected 1H17 results, while Jababeka looks likely to generate healthy revenue and EBITDA growth this year. 

HK/SG Conference 2017: India & Indonesia

Transcript: 02 Aug 2017, 12:03 AM ET - Indian and Indonesian credits are seen as an opportunity for diversification given their relative scarcity. Why have we seen less issuance from Indian banks unlike corporates from India and Indonesia?

HK/SG Conference 2017: Asian High Yield Strategy

Transcript: 31 Jul 2017, 9:58 PM ET - The recent supply glut is starting to take its toll: some new issues have performed poorly since launch and investors are starting to reject deals. Does this signal a shift in market sentiment? 

Asia Credit: The Week Ahead, 24 July 2017

Strategy Analysis: 21 Jul 2017, 12:31 AM ET - A slew of Indonesian high yield companies will report 2Q17 results next Friday, ahead of the regulatory deadline. 

Request A Free Trial

CreditSights offers free trials to individuals in qualified institutions.

Sign up now >>

Refine Results