|Bid||47.68 x 800|
|Ask||47.77 x 800|
|Day's Range||47.65 - 48.30|
|52 Week Range||34.31 - 50.00|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||19.04|
|Earnings Date||Oct 24, 2019|
|Forward Dividend & Yield||1.24 (2.59%)|
|1y Target Est||52.71|
(Bloomberg) -- Two companies based in China’s Shandong province saw their dollar bonds plunge on Thursday amid signs that their debt troubles are worsening.Shandong Ruyi Technology Group Co.’s dollar bond due in December plunged by 11.2 cents on the dollar to 77 cents as of 5:24 p.m. in Hong Kong, its biggest drop on record, according to Bloomberg-compiled prices. Shandong Yuhuang Chemical Co., another firm from the same province, saw its dollar bond due in March drop by 13.6 cents to 59 cents, also a record drop for the note, the data show.Both bonds dropped amid investor concern over their repayments. Debtwire reported late on Wednesday citing unnamed sources that Ruyi had appointed Houlihan Lokey Inc., without specifying its role. The report also cited a Ruyi spokesperson as saying that it had consulted with Houlihan Lokey for general financial services and that the management remains committed to repaying on time its dollar bond due next month.Bloomberg’s calls to Ruyi went unanswered and Houlihan Lokey declined to comment.Yuhuang’s 6% 500 million yuan ($71 million) bond was suspended from trading from Nov. 21 because of a “major event,” the company said in an exchange filing. It’s due to repay almost all that bond principal on Thursday after bondholders exercised a put option. S&P Global Ratings downgraded Yuhuang to CC from CCC+ on the same day, citing high near-term risk of default the company’s maturing debt.The two firms add to a growing list of distressed companies in the eastern Chinese province. In late October, steelmaker Xiwang Group Co., also based in Shandong, said it failed to repay a local bond after a ratings company warned in the previous month that the firm faces heightened pressure to repay debt in the final quarter.Amid the Ruyi and Yuhuang’s bond plunge, Shandong Sanxing Group Co.’s dollar bond due 2021 also fell 5.6 cents, its biggest drop in more than two months.Shandong’s privately owned companies are frequent users of cross guarantees, which has the potential to send one company’s liquidity issues cascading through the credit system, S&P Global Ratings said in a note last month.(Updates bond prices throughout)\--With assistance from Annie Lee.To contact the reporter on this story: Ina Zhou in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Neha D'silva at email@example.com, Magdalene FungFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Houlihan Lokey, Inc. (NYSE:HLI), which is in the capital markets business, and is based in United States, saw a decent...
Houlihan Lokey, Inc. (HLI), the global investment bank, announced today that it has appointed Gillian Zucker to its board of directors as an independent director. The appointment is effective immediately, and Zucker will serve on the Audit Committee and the Nominating and Corporate Governance Committee. “Gillian’s expertise, strategic discipline, and leadership as an operational executive is a valuable addition to our board, where her experience spearheading revolutionary strategic partnerships and driving widely heralded, best-in-class customer experiences will offer a unique perspective,” said Irwin N. Gold, Executive Chairman of Houlihan Lokey.
Houlihan Lokey said on Tuesday it had bought Spanish mid-cap advisory firm Fidentiis Capital, without disclosing any financial details, as part of the U.S. investment bank's European expansion strategy. Fidentiis Capital, founded in 2015, specializes in Spain's mid-cap market and has advised on dozens of transactions, such as the purchase of a majority stake in food company Pastas Gallo by private equity firm ProA Capital. Its founders Carlos Parames and Juan Luis Munoz will work at Houlihan Lokey as managing directors for corporate finance for continental Europe.
Houlihan Lokey (HLI), the global investment bank, announced today that it has acquired Fidentiis Capital as the firm continues to grow its European Corporate Finance business. With a focus on the midcap market in Spain, Fidentiis Capital provides independent corporate finance advisory services relating to mergers and acquisitions, capital raising, and financing.
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Houlihan Lokey, Inc. (HLI), the global investment bank, has agreed to acquire Freeman & Co. (Freeman), a New York-based independent advisory firm that provides a range of advisory services to financial institution clients. The transaction, signed yesterday, adds substantial coverage of broker-dealers and significantly expands the firm’s footprint in providing investment banking services to asset and wealth management companies and other related financial services sectors.
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