HY wakes up and smells the coffee while World Bank meet shuts down IG

Coffee machine
By Karoliina Liimatainen, Michael Turner
16 Oct 2019

Sub-investment grade companies have been making the most of this week's issuance window while the going is good. But the high grade corporate primary bond market is taking a breather, as a confluence of factors come together to put the breaks on new issuance.

Two single-B rated coffee machine makers are in the market promoting high yield bonds to refinance outstanding debt. Italy's Evoca is issuing €550m of senior secured notes due in 2026 paying a floating rate and Switzerland's Selecta is looking for a €150m add-on to its existing 5.875% and ...

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