A planned recast of $4.8 billion of debt by billionaire brothers Shashikant and Ravikant Ruia helped drive the biggest rally in Essar Energy Plc’s convertible bonds since they were issued two years ago.
Essar Group, controlled by billionaire Indian brothers Shashikant and Ravikant Ruia, is in talks with banks to refinance as much as $4.8 billion of debt, two people with direct knowledge of the matter said.
Capella Healthcare Inc., the hospital operator backed by private-equity firm GTCR Golder Rauner LLC, is marketing debt as volatility in the stock market could raise relative yields on speculative-grade corporate bonds.
Dave & Buster’s Inc. , the closely held operator of restaurant-entertainment complexes, is planning to sell debt as investors accelerate withdrawals from mutual funds specializing in high-yield, high-risk bonds.
Inventiv Health Inc. , the provider of sales and marketing services to science companies, is selling debt as slowed issuance of high-yield, high-risk debt in May will likely interrupt the record pace of earlier this year.
Citgo Petroleum Corp., the U.S.-based unit of Petroleos de Venezuela SA, is marketing debt as European policy makers unveiled an emergency aid package to stop a sovereign-debt crisis that threatens economic recovery.