Junk Debt Giants’ Woes Send Shivers Through European Market
Troubles at Intrum, Altice France and Ardagh threaten to weaken investor appetite for high-yield debt
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Welcome to The Brink. We’re Giulia Morpurgo and Eleanor Duncan, reporters in London, where we looked at the impact of sharp bond price declines for some of Europe’s largest high-yield companies. We also have news on Atos, Sandvine and Rite Aid. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @gmorpurgo.
First came Intrum. Then Altice France. Finally Ardagh. In the last two weeks three of the largest companies in the European high-yield, with more than €40 billion of debt combined, have seen most of their bonds and loans falling deep into distressed territory.