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.
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.
Transunion Corp., the provider of credit information to banks and consumers, is offering notes as stabilizing Treasury and equity markets may allow high-yield, high-risk issuers to sell debt after being shunned this month.