LBO refi wave to boost high-yield

The European high-yield bond market could have a rush of issuance in the second half of 2010 as LBOs close to the end of their tenor turn to the market as an alternative option to refinance debt. Moody’s this week suggested that the bulk of the European LBOs reaching maturity in the next five years could be refinanced through high-yield bonds, with many LBOs already looking to pre-emptively refund their debt. For more details on the Moody’s report, and which LBOs may consider early refinancing, read EuroWeek this Friday.