Asian debt markets witness foreign capital outflows caused by U.S.
Asian debt markets took an unexpected turn, with foreign investors pulling out large sums of money in November, the first outflow in the past seven months. According to Reuters, expectations of policy changes after the Trump administration takes office, coupled with a surge in the U.S. dollar, have led to weaker investor interest. Also read: How the dollar dominates the global trade space Data collected from various regulators and bond market associations showed net withdrawals of $1.92 billion from the bond markets of Indonesia, Thailand, Malaysia, India and South Korea. It was the first monthly net sales since April, reflecting growing investor concerns about potential trade restrictions. Khoon Goh, head of Asia research at ANZ, commented: "Markets are starting to price in the impact of the incoming Trump administration on Asia and the outlook for U.S. interest rates." This sentiment highlights investors' cautious approach to potential changes in trade dynamics. Indonesia's foreign investors pulled about $1.8 billion from its bond…
Hoonigan seeks bankruptcy protection with $1.75B in debt
Automotive entertainment and after-sales parts business The company best known for the Gymkhana video starring Ken Block announced on September 9 that it had filed for Chapter 11 bankruptcy protection in a Delaware court. Hoonigan said it has entered into a restructuring agreement with most of its creditors, which it expects to eliminate about $1.2 billion from its current debt totaling $1.75 billion. The company also plans to secure up to $570 million in new capital. The company said it expects its operations to continue as normal during this process and all unsecured creditors should be paid in full. Hoonigan, owned by private equity firm Clearlake Capital, accumulated much of its debt in the years following the pandemic through a series of acquisitions aimed at rapidly expanding its business. It all started when aftermarket wheel giant Wheel Pros acquired the original Hoonigan in 2021, along with several other companies including throtl and Transamerican Auto Parts, and the combined entity was…
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