Latest high yield bond news

• European credit quality has peaked, says S&P

  

  European companies are facing a downhill slide from the best credit quality conditions in a decade, rating agency S&P predicts. Lending conditions remain exceptionally generous but fears of a downturn and uncertainty over new monetary stimulus have kept many new issuers at bay.

  • 06:00 PM

• Banks go broader and deeper in revamp of corporate broking

  

  Banks like Goldman Sachs have positioned corporate broking as part of a wider, integrated offering to clients — a strategy that appears to be the future of this traditional UK line of business, writes David Rothnie.

  • 02:45 PM

• Investors focus on defence in uncertain times

  

  The return of heightened market volatility this summer is leading to investors looking at defensive assets as fund managers consider how to ride out a possible turn in the economic cycle.

  • 21 Aug 2019

• E.ON turns green to reopen IG market

  

  The first investment grade euro corporate bond since Daimler's €3bn four trancher at the beginning of August appeared on Wednesday morning. E.ON, the Baa2/BBB rated energy company, is in the market with a debut green bond — a benchmark five, and 10.5 year dual tranche deal.

  • 21 Aug 2019

• Greene King to keep securitization unchanged as CK Asset takes over taps

  

  Chinese investment giant CK Asset Holdings has swooped into the European boom of public-to-private buyouts with the £4.6bn takeover of UK pub company and brewer Greene King. The investor intends to keep the pub chain’s securitization in place for the time being and not suck dividends out of the company, leaving bondholders happy.

  • 20 Aug 2019

• HSBC plucks Welsh in UK coverage push

  

  Ed Welsh will join HSBC in November as global head of business services, although his work is expected to be heavily centred around the UK, as the bank ramps up efforts to gain market share among the country’s biggest listed firms.

  • 20 Aug 2019

• Barclays gives Blackman UK coverage job

  

  Alastair Blackman, formerly a top media investment banker at Deutsche Bank, will be developing relationships with the heads of UK firms on behalf of Barclays from next month.

  • 20 Aug 2019

• PG&E's riskiest bonds trade strong despite wildfire claims amassing

  

  PG&E’s high yield bonds are trading above par even as Chapter 11 bankruptcy proceedings advance at the Californian gas and power company. According to one credit research company, bad news may even be good news for the bondholders.

  • 19 Aug 2019

• People moves in brief

  

  Bank of America Merrill Lynch hires fintech chief — Perella Weinberg builds European restructuring team — UniCredit finds SSA trading boss.

  • 15 Aug 2019

• Default risks accumulate in Brexit-plagued UK market

  

  UK corporate debt is at an all-time high as the risks posed by a traumatic departure from the EU in October peak. Default risk among UK industrials has deteriorated sharply in recent years while at the same time their EU counterparts have lowered their risk profile. Karoliina Liimatainen reports.

  • 15 Aug 2019

High yield bond news archive