High Yield Bonds

  • Sazka scratches off another bond, two months after euro debut

    Sazka scratches off another bond, two months after euro debut

    Czech lottery giant Sazka hit the road again on Monday, marketing €300m of seven year senior unsecured notes. Sazka completed its first ever issue with great success in the euro high yield market in mid-November. It is now trying to repeat the trick, with JP Morgan again leading the issue.

  • Digi launches refi bond, riding on growth in Romanian telco market

    Digi launches refi bond, riding on growth in Romanian telco market

    Romanian telecoms giant Digi is marketing an €800m bond, offering investors exposure to risky but fast-growing Eastern European economies. Digi is joining the long list of companies taking advantage of exceptionally favourable refinancing conditions in European high yield.

  • Vivacom takeover package prints through tights but PIK lags

    Vivacom takeover package prints through tights but PIK lags

    Southeast European telecoms group United Group, a BC Partners and KKR portfolio company, is marketing an all-bond financing package for its takeover of Bulgaria’s Vivacom, marketing new senior secured bonds and an add-on to its existing 2025 PIK notes.

  • People moves in brief

    People moves in brief

    No more Vice at ICE — Barclays places Hill at risk — HSBC picks head of new illiquid credit syndicate unit

  • Altice fan club shows up for sub debt switch

    Altice fan club shows up for sub debt switch

    Altice France jumped into one of the busiest weeks on record for European leveraged loans and high yield issuance, issuing €2.1bn of bonds and simplying the group’s capital structure. Despite the complexities of the exchange, eager buyers showed up for the bond, taking down Caa1/CCC+ debt at just 4%.

  • Sovereign debt at greater risk of being ‘stranded’

    Sovereign debt at greater risk of being ‘stranded’

    The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.

  • Bonds back on top as Techem changes tack

    Bonds back on top as Techem changes tack

    High yield bonds are back on top as the capital markets funding tool of choice for leveraged companies. This week, Techem tweaked its loan repricing to add a heavy bond slug and take advantage of near-record low coupons on offer. That sets 2020 up with a very different tone from the past two years, when an ever-growing CLO market meant bonds struggled to compete with loans, writes Owen Sanderson.

High yield bond news archive