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US issuers and insurance companies could benefit as Moody’s relaxes parts of its approach
Investors attracted by relative value versus loans but are not blind to risk
Floridian manager registered the vehicle in Ireland with article 8 SFDR classification
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Spanish carmaker Seat, owned by Volkswagen, held a non-deal investor meeting in London on Monday, hoping to raise more capital as soon as market conditions allow, according to an investor.
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Sports car maker Aston Martin sold £304m of seven year senior secured notes at the wide end of guidance on Friday June 10. The bond was priced at 98.7186 with a 9.25% coupon, to yield 9.5%.
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Spotless, the French cleaning products company, withdrew from the European high yield market on Monday without selling its intended Eu400m bond offering. The market has been hit in the past few days by a series of weak economic data and persistent eurozone debt woes. -
German cable TV operator Kabel Deutschland priced an enlarged high yield bond in line with price talk on Friday. Goldman Sachs, Deutsche Bank, ING and Morgan Stanley increased the offering from Eu300m to Eu500m and sold it at par with a 6.5% coupon. The bonds were trading slightly above par on Monday.
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Norwegian paper company Norske Skog could draw some comfort after a bruising experience in the high yield bond market this week. After cutting its Eu300m five year bond in half and widening the yield to 13% to get the deal away, the issuer was at least able to see it trade well on the break.
