HY issuance heats up in last weeks before summer

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By Owen Sanderson
08 Jul 2020

High yield bond issuance is coming thick and fast in Europe, with new deals for Autodis, Avantor and Diebold Nixdorf announced on Tuesday and Verisure following on Wednesday. Banks have cleared most of their pre-Covid bridge books, and the summer break is nearly here, giving issuers wanting to lock in a refinancing a short window to hit.

First quarter numbers go stale in mid-August, under US Securities and Exchange Commission rules, but European markets will begin to quieten from mid-July, as portfolio managers and bankers head out for whatever vacations they are able to take amid the pandemic.

The market, too, has moved beyond looking ...

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