US HY market hot for Spain’s Ono, Codere
The US high yield market was as hot this week as it has been all year. Investors have cash to invest and are happy to buy even peripheral European names like Spain’s Grupo Corporativo Ono.
"Ono was a blowout, that was a surprise," said a high yield investor in New York, adding that US accounts have a lot of cash to put to work.
The cable operator raised $1bn of December 2018 bonds, $600m more than planned. The notes complement its 1bn 8.875% senior
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