Junk Issuers Rush to Refinance With Spreads Lowest Since 2022
- Six borrowers tapped the market Monday, the most since 2023
- Lot of companies seek to refinance debt, extend maturities
Monday’s issuance blitz saw the most transactions launch since January 2023.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
At least six US companies are tapping the high-yield bond market Monday as the extra yield investors demand over Treasuries hovers at a two-year low.
AMC Networks Inc., MGM Resorts International and home builder The New Home Company plan to refinance their outstanding debt or conduct tender offers. Steel producer Algoma Steel Group Inc. is offering $350 million in second-lien notes to use for general corporate purposes.