High Yield

  • Intrum taps July bond to pay down revolver

    Intrum taps July bond to pay down revolver

    Swedish debt purchaser Intrum sold a tap of its 4.875% 2025 unsecured notes on Wednesday, intending to use the funds to part-pay its revolving credit facility. With a strong backdrop, and plenty of RCF drawings still outstanding, the company increased the deal by €50m during syndication.

  • RBC looks for another lift after 10 year build

    RBC looks for another lift after 10 year build

    RBC Capital Markets’ expansion in European investment banking came in the aftermath of the global financial crisis. A decade on, the coronavirus pandemic has presented it with a very different set of challenges.

  • Amadeus and Kion give IG investors a chance of spread

    Amadeus and Kion give IG investors a chance of spread

    Amadeus IT group, the Spanish travel technology company, and German logistics company Kion Group offered corporate bond investors the chance to pick up riskier debt on Thursday, as the demand for higher yielding securities drives large parts of the primary market.

  • Private company premium evaporates as Altice refis

    Altice France leapt straight into the market after Friday’s surprise announcement that owner and founder Patrick Drahi would be taking the company private. Research from Federated Hermes shows that the credit spread premium for a private company has dropped to virtually zero for the first time in 20 years.

  • Maxeda scores nailed-on liquidity with 2026 refi

    Maxeda scores nailed-on liquidity with 2026 refi

    Dutch DIY group Maxeda launched a refinancing this week which pushed up its rating, after it took out its 2022s with new 2026 bonds, taking any liquidity constraints for the triple-C rated chain firmly off the table. Despite the pandemic, the retailer has been successfully deleveraging, helped by a boom in home improvements during lockdown.

  • Intrum preps tap to pay down revolver

    Intrum preps tap to pay down revolver

    Swedish debt purchaser Intrum is in the market with a tap of its 4.875% 2025 unsecured notes, issued in July, intending to use the funds to part-pay its revolving credit facility. The starting size of the tap is €200m but the company has €746m outstanding on its RCF so could easily look to increase the deal size if it receives strong demand.

  • Maxeda tests depth for triple-C refi

    Maxeda tests depth for triple-C refi

    Dutch DIY retailer Maxeda unveiled a refinancing on Monday morning which will test the market’s appetite for taking out triple-C rated bonds at tighter levels, with a €400m offering to redeem its existing €475m 6.125% 2022s.

high yield news archive