Rallying market brings clutch of HY trades
After Monday’s partial holiday across Europe, strong market conditions gave several high yield issuers confidence to press ahead with new issues on Tuesday. The new issue pipeline cuts across credit quality and use of proceeds, giving investors options from IG-style refis to single-B M&A trades.
The crossover index tightened more than nine points on Monday, while equities were up as well, despite some weak European data.This led five high yield issuers to step ahead with capital markets financing projects, ranging from long-anticipated M&A issues, such as that from Italian generic pharmaceuticals firm ...
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