Pangaea HY deal falls victim to Italian coalition worries

Greece
By Victor Jimenez
17 May 2018

Market sources said rising political uncertainty in the eurozone was to blame for the second deal pulled from the European high yield bond market so far in May, as Greek issuer Pangaea cancelled its high yield roadshow on Thursday.

Revelations over a potential Italian coalition government between eurosceptic parties Five Star Movement and Northern League triggered a sudden widening of Greek sovereign bonds, among others in the eurozone this week. 

The uncertainty was enough to scupper a high yield offering from Greek real estate group NBG Pangaea, which ...

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