The US high-yield market started to warm up last week as investors poured cash back into bond funds and spreads snapped tighter, helping issuers to land upsized deals. What a difference a new year makes. Until the second week of January, the HY market had been dormant since November 29. Now, spreads have tightened and deals are coming back, enlivening the market and giving issuers more confidence to sell debt. hca healthcare, enercizer holdincs and dcp midstream were able to raise a combined US$2.4bn, with two of the deals upsized after the initial announcement. Insurance broker acrisure followed with a US$500m five-year non-call two senior secured note that was expected to price on Friday.
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