High yield investors thirsty for deals gulp Sappi and Faurecia

Sappi sign in US from Alamy 230x150
By Jon Hay
14 Mar 2019

European high yield investors are as eager to buy bonds as their investment grade counterparts — the difference is, while IG issuers have been pouring paper into the market, high yield has been in a drought. But that is at last starting to break.

So far this year, there have been 19 high yield issues in the six main west European currencies, according to Dealogic, totalling €7.8bn. In the same period last year, there were 56 deals worth €15.5bn.

“There has been very little issuance, and it has all been double-B corporate ...

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