Deals
High-Yield Borrowers Play Catch Up After Pre-Summer Window Opens
- Investors in Europe sounded out on bond deals for coming weeks
- It’s about what credits not to own: Janus Henderson’s Ross
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High-yield bond sales in Europe are picking up ahead of the summer holidays in August, following a rocky second quarter that soured funding prospects for corporate borrowers.
Narrowing credit spreads have helped open the issuance window for six companies to print deals this week, and arrangers are currently pre-sounding another five or six possible transactions with investors, people familiar with the matter said. This marks a healthy pipeline after June saw 12 borrowers sell a collective 6.9 billion euros ($8.1 billion) of bonds, according to data compiled by Bloomberg.