High yield soaring with six deals
New issuance in Europe is climbing to new highs with no less than six deals in the high yield market this week. Among them is Spanish cable TV firm Ono with a Eu500m offer due to be priced on Friday, while Central European Media Enterprises launched a Eu170m deal and UK laboratory testing firm Exova hopes to raise £155m. All are refinancing bank loans ahead of a Moody’s-predicted glut of junk debt. Will the market hit a wall before all these deals can be priced? Read EuroWeek on Friday.
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