Latest high yield bond news

• Unilever Spreads displays €1bn LBO bond in market for all sizes

  

  After selling €4.6bn of loans in March, Unilever Spreads unveiled the €1bn high yield bond portion of its leveraged buyout funding package on Wednesday. But as well as jumbo deals, other borrowers with smaller offerings are also vying for investor attention.

  • 19 Apr 2018

• Yell tries to wake up sterling HY issuance

  

  Digital advertising firm Yell added a new sub-benchmark deal to an otherwise lacklustre sterling high yield bond pipeline this week. The market is lagging more than £1bn ($1.4bn) behind 2017’s first quarter volumes.

  • 19 Apr 2018

• Corporate $ bonds looking less attractive than euros

  

  Investors who can buy investment grade corporate bonds in a variety of currencies have been making the most of the relative value of dollar assets in recent years. However, the cost of hedging those assets has been steadily rising and is now at a point where such assets are looking much less attractive for non-US investors.

  • 18 Apr 2018

• Heavy pipeline excites leveraged finance investors

  

  Fund managers were looking into €6.5bn of live high yield bond and loan deals in the European leveraged finance markets on Wednesday. Those speaking to GlobalCapital were happy to see that spreads are slightly widening across ratings from last year’s historic lows.

  • 18 Apr 2018

• ‘Animal spirits’ back in US high yield as cash floods back in

  

  The US high yield market has snapped back after softening in February and March, with recent deals issued at steep discounts bouncing back in the secondary market as retail funds flocking back to the sector chase scarce paper.

  • 17 Apr 2018

• Former Millenium manager to oversee Pimco’s €10bn high yield portfolio

  

  Pimco has appointed a new head of its European high yield portfolio, as it looks for opportunities to invest in speculative grade credit, the firm said in a statement on Monday.

  • 17 Apr 2018

• HY buyers want an end to ‘don’t ask, don’t tell’

  

  The lack of a fluid conversation in the European high yield market between bond buyers on one side, and underwriters and borrowers on the other, will cause trouble for everybody, say some fund managers and their advisers. They are already turning around this situation in their favour, but investment banks have yet to react.

  • 16 Apr 2018

• String of bankruptcies leaves US high yield unfazed

  

  A recent string of defaults in the US high yield bond market, particularly in the retail and supermarkets sectors, has not caused undue concern among market players, with most of the situations already factored into assumptions.

  • 12 Apr 2018

• Borrowers drive €3bn B train into ruffled market

  

  European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.

  • 12 Apr 2018

• Levfin investors welcome cooler market

  

  Demand for high yield bonds and leveraged loans has become patchy, fund managers say, after several months of heavy issuance.

  • 11 Apr 2018

High yield bond news archive