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Chapter 11 filings by indebted companies jump in May, including five during a 24-hour span
Oh look out you bank rock ‘n rollers
Investment grade bond issuance so far this month is more than double last May’s levels
Dan Kamensky returns to distressed debt markets to shine light on industry’s hardball tactics
Lowest-rated ‘junk’ bonds miss out on rebound from last month’s banking crisis
Investment manager raises $12bn for new vehicle
Also, tight junk spreads
High-yield market had ground to a halt following collapse of Silicon Valley Bank
After a roaring start to the year, a downturn in March shows that risk appetites are clearly inhibited
Trend of using expensive high-yield bonds to refinance the disappearing supply of bank loans has begun
Investment grade and high-yield funds had combined outflows of $8.3bn in February
On the sacred and the mundane
Investors who bought the Italian utility’s bonds are getting a handsome return
For now . . . .
Lower demand for risky corporate debt could threaten companies’ ability to refinance
Rates look like they are nearing a top and yields will ease next year
Yes yes yes we know… but?
Investors nibble on debt of companies less exposed to economic slowdown but avoid riskier groups
Net inflows of $111.5bn were triple that of September and the highest since March
Deep discounts to offload bonds and loans in software maker’s LBO cost banks $600mn
Deal reflects difficulties raising funds as the economy turns and interest rates climb
Promise of high returns lures nervous investors to €350mn deal from Italy’s biggest gambling company
Is the market reflecting optimism about the economy? Or something else?
Low demand for bonds and loans is Wall Street ‘canary’ as inflation risks rock capital markets