High yield welcomes Rottapharm, Guala — more Italians in pipeline

09 Nov 2012

Italian companies are back in the European high yield market as Rottapharm and Guala Closures sold bond transactions this week. Both are true speculative grade credits with bond ratings of Ba3/BB- and B1/B, respectively.

Debut issuer Rottapharm Madaus, a pharmaceutical company, raised €400m on Thursday, while bottle top maker Guala Closures returned with its second high yield bond.

"It seems like, on the back of a couple of issues out of the country, Italy is the flavour of the moment," said a high ...

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