High yield in a hiatus — IG minds turn to ESG

By Mike Turner, Owen Sanderson
12 Feb 2020

High yield is mostly in a hiatus, with issuers waiting for full year numbers before pushing back into the market. Only UK broadband company TalkTalk is issuing this week, offering a rare slug of sterling supply to a market that has been euro-dominated for most of the year. For the corners of the loan market without such problems, though, there is still a bid, even for credits with stories.

Swissport is repricing its loan from last year, a big move for a firm owned by Chinese aviation conglomerate HNA Group, as the impact of coronavirus continues to rebound through the capital markets. The talk of 425bp-450bp looks juicy at first glance for a B2/B- issue, but arguably ...

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