Debt

Deals analysis

  • Voting uncertain in new European high yield

    24 March 2011

    UPC Broadband is the latest issuer to use Europe’s new high yield structure which features the maintenance covenants of an underlying secured loan. But the deal offers no sign of bondholder voting mechanisms standardising under the structure

  • Edcon: South African high yield returns

    10 March 2011

    South African issuers have returned to the international high yield market, and they are obtaining the covenants they got in the market’s peak

  • New carve-out in Chinese property bonds

    02 March 2011

    China SCE Property’s high yield issue has carved-out permanent offshore non-guarantor subsidiaries but included incurrence baskets slated for the same subsidiaries

News analysis