High yield bonanza helps rescue Greece from credit gap

Greece 230x150
By Olivier Holmey
15 May 2014

The extent to which the high yield bond market has come to Greece's rescue became clearer than ever this week, as two more companies brought deals, making it five from Greece in a fortnight, writes Olivier Holmey.

One of this week's deals was rated Caa1/CCC, for Glasstank, a subsidiary of Yioula Glassworks. Both Greece’s oil refiners have issued in the past week, and a few days earlier, Public Power Corp, the country’s largest electricity generator and supplier also issued.

“The number of Greek deals is ...

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