Latest high yield bond news

  • Trajectory bodes well for US banks’ Q2s

    Investment banking activity suffered a sluggish start to the year at the top US names, particularly in equity underwriting, but conditions brightened as winter turned to spring.

    • 17 Apr 2019
  • Senvion takes DIP debt from bondholders and lenders

    Senvion, the wind power services company now locked in restructuring negotiations, said on Wednesday it had raised a €100m debtor-in-possession loan with existing bondholders and lenders.

    • 17 Apr 2019
  • Greece’s Intralot in covenant crisis as earnings disappoint

    Bonds of Intralot, the Greek gambling technology company, fell on Tuesday, after an earnings release that disappointed investors and confirmed that it was in breach of leverage covenants in its revolvers. High yield research firm Lucror Analytics argued that it was now ‘imperative’ for the company to renegotiate these terms.

    • 17 Apr 2019
  • Less experienced issuers miss good conditions by backloading

    Despite the very attractive conditions in Europe's corporate bond market in recent weeks, some less regular issuers have missed out on them because they were scared off by the rough markets at the beginning of the year.

    • 17 Apr 2019
  • Warner Music raises €195m in tap for refi

    Warner Music Group has launched a €195m add-on to its 2.625% 2026 notes, originally printed as a €250m deal as the market deteriorated in October last year. It plans to use the new funds to refinance its 2022 notes.

    • 16 Apr 2019
  • Europcar seeks cost cuts with €450m refi

    Europcar has launched a €450m high yield bond to refinance its 2022s and likely cut coupon costs, as yields have come down for senior unsecured debt amid a dearth of bond supply.

    • 15 Apr 2019
  • Trafigura seeks bondholders’ backing to rescue stricken zinc maker Nyrstar

    Nyrstar, the zinc and lead mining and processing firm, has reached a deal with some of its creditors in which Trafigura, the commodities trader that owns a 25% stake, could take the whole firm private following a scheme of arrangement.

    • 15 Apr 2019
  • Italmatch in €200m HY to refi BWA

    Italmatch, a chemical additives company owned by Bain Capital, has announced a €200m add-on to its €410m senior secured floating rate note, to repay the acquisition debt it took on to buy BWA Water Additives.

    • 11 Apr 2019
  • IMF warns on risks to corporate sector debt

    The creditworthiness of corporate borrowers in advanced economies has deteriorated while the volume of debt and financial risk taking has risen, the International Monetary Fund has warned. It also flagged up concerns about the sovereign-bank nexus in the eurozone and about market conditions for low income and frontier countries.

    • 11 Apr 2019
  • People moves in brief

    Diamond hires ex-colleague at Atlas — Salorio leaves DCM head vacancy at Soc Gen — Forese to retire from Citi

    • 11 Apr 2019

High yield bond news archive

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 3,134.09 17 7.63%
2 Goldman Sachs 2,807.00 13 6.84%
3 Bank of America Merrill Lynch 2,528.72 11 6.16%
4 Citi 2,239.46 7 5.45%
5 Credit Agricole CIB 2,223.61 14 5.42%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 1,571.85 12 9.08%
2 Deutsche Bank 1,337.93 10 7.73%
3 BNP Paribas 1,305.75 15 7.54%
4 Goldman Sachs 1,225.64 11 7.08%
5 Citi 1,208.83 11 6.98%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 9,429.53 69 10.49%
2 Citi 8,913.64 63 9.92%
3 Bank of America Merrill Lynch 6,050.36 46 6.73%
4 Goldman Sachs 5,765.16 41 6.41%
5 Morgan Stanley 5,492.04 36 6.11%