European High-Yield Bond Volume Slows While New-Issue Yields Tighten

Despite ample demand, European high-yield bond issuance slowed down in February, as 11 bonds priced totalling €3.9 billion, down from 17 bonds for €5.7 billion in January. In the year to Feb. 28 European borrowers raised €9.6 billion in the high-yield bond market, down 33% from this time last year. The trend is the same by deal count, at 28 versus 40 transactions, respectively.