Iqvia breaks staleness silence in HY land

Software company Iqvia had the euro high yield market almost to itself this week, as last Friday’s go-stale deadline slowed the frantic issuance which has characterised the year so far. As a double-B unsecured credit targeting pricing in the 2s, it was a punchy deal, but the result exceeded the issuer's expectations.
European high yield has had a storming start to the year, with a rush of trades including heavily oversubscribed tranches at the bottom of highly levered capital structures, capped off by Asda’s multi-record-breaking sterling deal.
But Friday February 11 marked the “go-stale” deadline for issuers looking to ...Already a subscriber? Login