Secured bonds grab larger share of the market
Source: Debtwire Par
Since the high yield bond market reopened in January, issuance has been marked by a sharp jump in the share of secured bonds. So far, in 1Q19, USD 13bn of secured bonds have priced, representing 45% of overall high yield bond volume, up from 34% last year. In some cases, not only have borrower’s favored secured bonds over unsecured bonds, but also over leveraged loans.
Already a member? Log in here