Just last month, Credit reported concerns that high-yield investors were taking on too much risk for too little reward by buying payment-in-kind (Pik) deals. The sell side was broadly unsympathetic: one banker went as far as to claim that the whole controversy over Pik deals was merely the result of bored journalists scrabbling for something to write about in a super-tight technical environment.
What a difference a month makes. The rug has been pulled out from under the high-yield m
The week on Risk.net, July 7-13, 2018Receive this by email