Deals of the Month: Staples

One of the most encouraging aspects of the strong pace of corporate issuance in the dollar market in January, in addition to the sheer volume of new paper, was the willingness of investors to leave the security of the investment grade's higher echelons and explore its lower reaches. As the month progressed, some high yield prints even found their way into portfolios, but one of the first issues to reflect the increased risk appetite was from the office materials retailer, Staples (Baa2/BBB/BBB),