High Yield Bonds

  • Comeback kid Röhm lines up par refi

    Comeback kid Röhm lines up par refi

    Röhm, the renamed Evonik Specialty Chemicals, is back in the market looking to refinance its 2026 €997m term loan 'B' near par, following a surprisingly strong performance through 2020.

  • Merck spin-off Organon launches $4.5bn bond financing

    Merck spin-off Organon launches $4.5bn bond financing

    Organon, the spin-off from US pharma company Merck, has launched a bond leg of its financing, which will establish the unit as a separate firm with its own capital structure, while funding a $9bn dividend to its former parent. The firm was initially offering $4.5bn-equivalent across secured and unsecured bonds, with a bias to the deeper dollar market, but scaled this up during syndication to allow it to strip out bank debt.

  • TI Fluid adds unsecured HY layer

    TI Fluid adds unsecured HY layer

    TI Fluid Systems, an auto parts company, is marketing its first unsecured debt, a €600m eight year non-call three, which it plans to use to repay part of its secured debt. It has also launched repricing on this loan, looking to cut margins and reset Euribor floors to market standard levels.

  • HSBC brings back Horsburgh for UK role

    HSBC brings back Horsburgh for UK role

    HSBC is relocating the regional head of its leveraged and acquisition finance (LAF) business from Hong Kong to London to help implement its UK strategy.

  • ELFA, LMA to publish ESG guidance on lev loans

    ELFA, LMA to publish ESG guidance on lev loans

    The European Leveraged Finance Association and the Loan Market Association are teaming up to produce guidance for incorporating ESG criteria into leveraged loan terms, with a timeline to publish standards by the end of April. The aim is to provide the infrastructure for the leveraged loan market to adopt ESG standards more widely.

  • Trump exit unleashes Financial Stability Board to act on climate

    Trump exit unleashes Financial Stability Board to act on climate

    The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.

High yield bond news archive