New trio serve BB deals for HY’s tourist investors

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By Victor Jimenez
22 Mar 2017

Another day, another €1.5bn of high yield bond offerings was what Tuesday’s deals from Aramark, Anglo American and Arrow meant for a European market awash with double-B rated paper. But too much of a good thing is putting off some traditional high yield buyers.

“Is it a busy market? Yes, but not really busy with the right stuff,” said a high yield fund manager in London. “The deals we have on the table are fluffy but will yield very little.”

“My ...

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