UK insurance intermediary Towergate is set to price a £520m debut high yield bond on Friday, which investors expect to be heavily oversubscribed.
The deal will be only the second European junk bond of the week, following Irish packaging firm Ardagh Groups Eu200m tap on Tuesday.
"High yield supply just isnt keeping up with demand," said an investor in London. "This weeks been especially light. Theres no issuer in the immediate pipeline,