Sterling HY breaks records with new names, non-UK buyers
Sterling high yield issuance is the new fad in the European high yield market, writes Stefanie Linhardt. Issuance so far this year has already exceeded the annual record, set in 2011, and plenty more deals are to come — some of them imminently.
Something fundamental has changed in the European high yield market, making sterling more attractive to a
wider range of investors. In the past, issuance of sterling high yield bonds was a special occurrence. Issuance in 2011 of £6.25bn far exceeded the £3.6bn issued in the second-busiest year,
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