Junk Sales Set to Break January Record: U.S. Credit Week Ahead
- Gannett marketing $1.05 billion five-year leveraged loan deal
- Apple, Verizon among high-grade borrowers reporting earnings
This article is for subscribers only.
The high-yield bond market is wrapping up what’s likely to be the busiest January on record next week as investors continue to pour cash into risky assets as they hunt for higher returns.
Sales stand just about $1.2 billion below the current January peak of $37 billion, which was set in the first month of 2020. Yields on CCC debt, the riskiest of junk bonds, hit an all-time low Thursday as investors have moved down in credit quality in search for returns. More than $13 billion of high-yield notes priced this week with debt rated in the CCC tier representing about a third of the volume.