Latest high yield bond news

• Dia denies endorsing LetterOne’s debt restructuring plan, but mulls rights issue

  

  Spanish supermarket group Distribuidora Internacional de Alimentación revealed a new scheme to solve its financial troubles on Wednesday, away from the potential debt cut and cash injection recently suggested by its largest single shareholder LetterOne.

  • 12 Dec 2018

• High yield faces ‘worst scenario’ for returns

  

  Investors in leveraged debt in Europe were hoping for stable new issue spreads, calm secondary markets and receding fund outflows. But as the year ends, they are finding out that dreams do not come true, but nightmares might.

  • 12 Dec 2018

• Corporate bond market blocks out Brexit noise for now

  

  Due to the lack of new issuance for over a week in the European corporate bond markets, the vote of no confidence in UK prime minister Theresa May was the talk of both the buy and sell sides on Wednesday morning. But there has been little effect on the market itself so far where political developments in other European states are more of a concern.

  • 12 Dec 2018

• Dia's backer LetterOne shops debt restructuring plan

  

  LetterOne, the private equity firm that is the largest shareholder in Distribuidora Internacional de Alimentación, the Spanish supermarket chain, has drafted a debt restructuring plan for the troubled company that echoes the latest attempt of renewable energy group Abengoa to survive by cutting its leverage.

  • 11 Dec 2018

• Corp defaults to rise, says Moody’s

  

  Defaults among borrowers with speculative grade ratings are set to dive at the start of next year, but only for a while, Moody’s said in an outlook report for non-financial corporates this week.

  • 05 Dec 2018

• Fund outflows bring levfin to standstill

  

  Investors in European leveraged debt seem to be giving up for the year. Funds and financial vehicles that buy high yield bonds and leveraged loans have seen large volumes of cash outflows, leaving borrowers with no other option but to step back this week.

  • 05 Dec 2018

• What a difference a day makes in IG bonds

  

  On Monday, the euro corporate bond market delivered its largest ever deal in December. However, on Tuesday, there was no follow-up and the dramatic fall in global equity markets has led some investors to call the end of 2018 from a new issue perspective.

  • 05 Dec 2018

• Distressed CMC Ravenna stokes HY’s Italian fears

  

  The risk appetite of high yield bond investors in Europe continues to pall, as Italian construction firm Cooperativa Muratori e Cementisti di Ravenna filed for creditor protection this week.

  • 04 Dec 2018

• Kames vows ‘business as usual’ after HY departures

  

  Four fund managers have left Kames Capital’s fixed income team to join competitor Artemis this week, prompting a staff reshuffle at their former employer and expectations of new high yield funds being opened at their new home.

  • 04 Dec 2018

• Successful Stada deal soothes HY’s rocky month

  

  Triple-C rated high yield bond issues had disparate fates this week. While UK private schools group Cognita was pulling its new notes, adding to November’s list of failed deals, German pharma company Stada priced its bonds in line with guidance.

  • 30 Nov 2018

High yield bond news archive