All Eyes on Newland for High Yield

All Eyes on Newland for High Yield

Panama

After last week's beach resort bond wipe out, all eyes are on Newland International Properties, the builder of the Trump Ocean Club in Panama. Because of last week's market volatility which claimed a number of high yield scalps, the issuer postponed at least until this week a $220m 2014 NC3 bond issue, talked at 9.375%-9.625%. Bear Stearns is the underwriter. Bond markets were closed Monday but further bloodletting on the US equity market suggests risk aversion will remain elevated. Besides Cap

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