TITLE

Unsecured Deals Return to Dominate HY

AUTHOR(S)
Sheahan, Matthew
PUB. DATE
September 2010
SOURCE
High Yield Report;9/20/2010, Vol. 21 Issue 38, p25
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports on the dominance of unsecured deals in the junk bond market in 2010. As of September 15, Zayo Group's 10.25% senior secured notes due 2017 was the only one secured in deals priced on the high yield primary market. Lawyer Adam Cohen explains that a return to unsecured issuance is a sign that investors are lowering their guard again. It cites Ford Motor Credit's drive-by deal as an example of an unsecured deal. Most of the leveraged loan and high yield bonds issued in 2010 has been aimed at refinancing, says Moody's Investors Service.
ACCESSION #
53848310

 

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