High Yield Bonds

  • Hornbach nails €250m unsecured bond launch despite retail fears

    Hornbach nails €250m unsecured bond launch despite retail fears

    German home improvement and garden supplies chain Hornbach issued €250m of senior unsecured notes on Thursday, for a coupon of just 3.25%. While the retail sector in general makes investors wary and Germany is lurching towards recession, investors showed confidence in the home improvement market.

  • Vingroup eyes $500m in senior syndication

    Vingroup eyes $500m in senior syndication

    Vietnamese conglomerate Vingroup Joint Stock Company and its automobile subsidiary VinFast have returned to the loan market, seeking a total of $500m in senior syndication.

  • People moves in brief

    People moves in brief

    Nomura’s Cicchine heads for Deutsche — Macquarie finds head for new lending group — Citi promotes ECM bankers.

  • Brexit deal chance lights up UK cap market hopes

    Brexit deal chance lights up UK cap market hopes

    A surprise agreement between the UK government and the European Union has led to renewed optimism for the country's capital markets. There is hope that an orderly Brexit, or even a long extension, will lead to an increase in investment from UK companies, particularly in the form of M&A. Investors are more than willing to finance these deals, write Sam Kerr, Jasper Cox and Mike Turner.

  • Merlin bonds enchant investors despite toothless covenants

    Merlin bonds enchant investors despite toothless covenants

    Investors have piled into bonds to fund the buyout of UK theme park operator Merlin, despite the covenants on the unsecured debt being considered the worst ever. Meanwhile, the “net short” provision, designed to curb CDS investors, looks to have made it to the final documentation for the first time in a European deal.

  • VodafoneZiggo joins telco refi party with €3.1bn issue

    VodafoneZiggo joins telco refi party with €3.1bn issue

    VodafoneZiggo, the Dutch telecoms joint venture evenly split between Liberty Global and Vodafone, is raising €3.1bn in fresh capital. It joins industry peers such as Salt, Wind Hellas and Altice France who have rushed to the market this autumn to take advantage of favourable conditions.

High yield bond news archive