Deals in Focus: William Hill and Virgin Media

Deals by UK bookmaker William Hill and telecoms firm Virgin Media reopened the sterling high yield market, with other issues likely to follow before year’s end.

The past six months have seen a sharp turnaround in the European high yield bond market. With investors regaining their risk appetite after a period of inactivity during the financial crisis, sub-investment grade and crossover companies have flocked to market; some to raise new funds while others have taken the opportunity to refinance ex