HY hots up in busy week
A rare flurry of high yield deals hit the market this week, as four very different credits readied issues. Ford’s funding arm FCE Bank priced a Eu500m deal on Tuesday, while Smurfit Kappa, the Irish packaging company, is expected sell a Eu500m eight year senior secured bond on Wednesday. Satellite company Inmarsat is planning a $650m senior unsecured bond issue and Polish media company TVN has announced Eu588m of issues for both refinancing and acquisition purposes. Read EuroWeek this week for more details and the market’s reaction to this sudden rush of deals.
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