High Yield Bonds

Nyrstar Plans €350M HY Bond Deal

European metal and mining company Nyrstar NV is on the market with a €350 million ($460 million) bond offering as part of a €600 million ($788 million) refinancing package.

Norwegian Will Tap Debt for $3B Acquisition

Norwegian Cruise Line Holdings Ltd. (NCL) plans to tap the debt markets to finance its $3.025 billion acquisition of Prestige Cruises International Inc.

China’s Debt Volume at Record YTD Level

Chinese debt capital market (DCM) volume has reached a record high point, according to Dealogic. China DCM volume now totals $426.7 billion so far this year.

HY Funds Continue Positive Net Flow Trends

High yield bond funds saw another week of positive flows, continuing the rebound after the month-long selloff over July and August.

HY Trading Volumes Lower for August

Secondary market average daily trading volumes are down for August even though they are higher year-to-date over last year, according to data from Finra’s TRACE.

U.S. Investment Bank Revenue at Highest Level Since 2007

U.S. investment bank revenue has reached its highest year-to-date level since 2007. M&A revenue leads among revenue streams. U.S. core investment bank revenue now totals $17.5 billion year-to-date.

Yingde Gases Prices $250M in HY Bonds

Yingde Gases Group sold $250 million in 7.25% senior notes due 2018. It plans to use the proceeds to refinance debt and for capital expenditures.

RadioShack Seeking Hedge Fund Rescue

Struggling RadioShack is reportedly in talks with a hedge fund on a financial rescue package that would include refinancing existing debt. The plan could help jump-start renewed negotiations with creditors and allow it avoid bankruptcy.

Global M&A Volume Reaches YTD High

Global merger and acquisition volumes have reached a year-to-date high not seen since the heady buyout boom days of 2007. The percentage of global M&A activity financed by high yield bonds and leveraged loans is on the rise.

Caesars Reportedly Starting Restructuring Talks

Debt-laden gaming and casino giant Caesars Entertainment is reportedly slated to start restructuring talks with bondholders after Labor Day. Caesars has approximately $20 billion in outstanding debt.


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James Kochan

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Firm: Wells Fargo

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