High Yield Bonds

  • KKR’s Vinhomes loan faces pushback from Taiwan

    KKR’s Vinhomes loan faces pushback from Taiwan

    KKR and Credit Suisse are soft-sounding a loan that will support the private equity firm’s acquisition of a stake in Vinhomes Joint Stock Co. But several Taiwanese bankers said they would not commit to the deal before they see a resolution to problems at MMI International, another KKR-linked company.

  • HY investors take on tougher credits

    High yield bond issuance is coming thick and fast in Europe, with primary supply not limited to straightforward Covid-proof credits, but also coming from highly levered firms feeling the pinch of the pandemic restrictions.

  • Verisure refi underlines levfin recovery

    Swedish alarm firm Verisure underlined improved leveraged finance conditions when it returned to market for a refinancing. The company was the first European high yield issuer out after the coronavirus crisis, with a tentative floating rate note in April, but its latest refi proved to be a blowout, with a huge size increase and pricing through talk.

  • Baltic telco Bitė boosts size of divi in bond market return

    Bitė, a mobile, broadband and pay-TV firm in the Baltic region, and a portfolio company of Providence Private Equity, priced a dividend recap and refinancing of its whole capital structure this week, funded by a dual-tranche high-yield bond offering. This marks the company’s return to bond markets after nearly five years of financing through loans.

  • Investor group calls for better covenant transparency after TKE victory

    Investor group calls for better covenant transparency after TKE victory

    The European Leveraged Finance Association has called for better transparency in high yield covenant packages, arguing that clarity is crucial for pricing risk. The call comes shortly after one of the largest covenant climb-downs in recent market history, when lead banks on ThyssenKrupp Elevator stripped many of the most controversial terms from the €8bn financing.

  • HY issuance heats up in last weeks before summer

    HY issuance heats up in last weeks before summer

    High yield bond issuance is coming thick and fast in Europe, with new deals for Autodis, Avantor and Diebold Nixdorf announced on Tuesday and Verisure following on Wednesday. Banks have cleared most of their pre-Covid bridge books, and the summer break is nearly here, giving issuers wanting to lock in a refinancing a short window to hit.

  • Blincoe takes over large corporates and institutions

    Royal Bank of Scotland's structured finance head Andrew Blincoe has become head of large corporates and institutions at RBS Commercial Banking, as well as keeping his existing responsibilities as structured finance head, following the departure of Laura Barlow.

High yield bond news archive