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Bonds back on top as Techem changes tack

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By Owen Sanderson
23 Jan 2020

High yield bonds are back on top as the capital markets funding tool of choice for leveraged companies. This week, Techem tweaked its loan repricing to add a heavy bond slug and take advantage of near-record low coupons on offer. That sets 2020 up with a very different tone from the past two years, when an ever-growing CLO market meant bonds struggled to compete with loans, writes Owen Sanderson.

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By Owen Sanderson
23 Jan 2020