High yield bond pipeline builds

By Max Bower, Robert Cooke, Ross Lancaster, Victor Jimenez
27 Apr 2016

It’s that time of the year again in the European high yield market: finally, the single-B, the triple-C and even the unrated credits are racing towards a window of issuance that market participants say heralds a busy second half of the year.

But out of the four potential issuers openly considering the market this week, Travelodge Hotels’s debut bond is the only one with a clear schedule.

The unrated UK budget hotel chain will on Thursday close a three day roadshow for its £360m two tranche seven year bond, with ...

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