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Hapag hits high yield with $500m deal

The pace in Europe’s high yield market is finally picking up: container shipping firm Hapag Lloyd started the roadshow for a $500m offer on Wednesday, following soon after frozen food business Picard’s Eu300m deal, launched on Monday. The timing is ideal as prices for high yield bonds are back to their pre-crisis levels, the BofA Merrill Lynch high yield index shows. EuroWeek will take a closer look at the new found popularity of the asset class on Friday.

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