High yield not closed, say bankers, as Crossover recovers

By Stefanie Linhardt
26 Jun 2013

The worst of the high yield market sell-off might be over in Europe, suggested market participants at the Euromoney Global Borrowers' and Investors' Forum in London today. This comes on a day when the Markit iTraxx Crossover tightened for the second day in a row — in what could indicate a market stabilisation.

The Crossover index tightened by 30bp to 482bp by 4pm on Wednesday, after closing on Tuesday 17bp lower than Monday's 2013 high of 529bp.

The European high yield market has had two bond issues postponed in the last two weeks. The €685m of notes for French laboratories group Unilabs, ...

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