Euro high yield market not ready to step up for rescue finance

helicopter coronavirus rescue PA 575x375
By Owen Sanderson
14 May 2020

While the US high yield market has delivered a deluge of secured rescue bonds to bail out airlines, cruise lines, car rental firms, hotels and other "zero revenue" virus casualties, European high yield has stayed sedate, cautious, and stuck to the safest sectors. Can the European bond market rise to rescue financing?

US high yield markets have provided a stream of financing to some of the hardest hit companies reeling from the impact of coronavirus, widening into a torrent this week with bonds to fund live entertainment, casinos, airlines, car rentals and cruise lines.

Some of these bonds have been ...

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