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Disruptive US economic policy has not yet dented credit appetite
High yield investors nibble at IG names, as credit investors brace for ‘trillions’ unlocked from money market funds
Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
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Akelius Residential Property, the Swedish property group, was the only borrower roadshowing on Tuesday for a speculative grade bond in Europe, but bankers said investor feedback was positive.
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Indonesian property developer Surya Semesta Internusa (SSIA) has shelved plans for a possible US dollar bond due to the volatility in global markets.
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As Lindorff's market-opening deal proved on Thursday, the European high yield market has a good chance of avoiding contagion from the wider swing away from risk in financial markets — but a comeback like the stunning rallies in January and July is unlikely.
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Lindorff, the Norwegian debt collection company, priced a €230m tap of its floating and fixed rate bonds on Thursday, reopening the European high yield market after the summer break in encouraging style.
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The European high yield market has a good chance of avoiding contagion from the wider swing away from risk in financial markets, according to investment strategists at Deutsche Bank.
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The investment grade bond and loan markets embraced the September rush with gusto this week, but the high yield bond and leveraged loan sectors look like they need a little more time to limber up.