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The Treasurer's handbook - European high-yield market coming of age

  Chetan Modi, Moody's Investors Service |   Free |   The Association of Corporate Treasurers |   Oct 2014 |

This article describes how the European high-yield market has grown. This includes:

• Bank-to-bond structural transformation nearing completion • Wide range of companies, including many LBOs, taking advantage of high-yield markets • Increasing share represented by telco industry • Issuance volumes underpinned by solid credit quality of rated universe • Issuer credit quality continues to fall.

Topics covered:
  • Management accounting: Technical: Corporate finance & treasury management: Corporate funding, Advanced