Pick-up in high-yield issuance pipeline
The high-yield market pipeline is building up handsomely with some analysts expecting issuance of up to €5 billion of deals. By the end of March, high-yield offerings in the European market had reached €6.5 billion of euro debt, £800 million in sterling and $950 million of dollar bonds.
The high-yield primary market experienced a lull in issuance after March 16, when GM posted its largest profit warning since 1992, causing spreads to widen and some issuers to postpone transactions. Those kept
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