No Time for High-Yield Heroes as Volatility Threatens Sales
- Cognita, Dreams, Stada primed to tackle Europe primary market
- Bankers on close watch in bid to limit further pulled deals
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Wild price swings, pulled primary deals and soaring benchmark yields are just a few of the challenges that high-yield bankers are grappling with as they try and judge whether to execute the year’s last batch of debt sales.
It’s been a rough month for speculative-grade issuance in Europe, with two deals withdrawn and only four transactions pricing. Syndicate desks in London say they are not inclined to act heroically by launching new deals into a volatile market, but will be on the lookout for the first signs of stability.