about me
art
biz
Chess
corrections
economics
EconoSchool
Finance
friends
fun
game theory
games
geo
mathstat
misc
NatScience
... more
Profil
Logout
Subscribe Weblog

 
FT: Junk bonds, the darling of the debt markets for two years, are proving remarkably resilient.
high_yield_bofa
Globally, triple C-rated companies, which include names such as J Crew, the clothing chain, and Level 3, the communications group, have sold $9.8bn of debt this year, well above the previous year-to-date record of $5.2bn in 2007.

This reflects demand from the continued inflows into mutual funds investing in high-yield corporate bonds, as well as appetite for risk from hedge fund investors. “In general, there used to be pretty strong resistance to accept new issuance from companies that were rated triple C,” said Martin Fridson, global credit strategist at BNP Paribas Asset Management.
ccc_issuance_ftA handful of bond sales recently included two features considered particularly risky, according to Standard & Poor’s LCD, which tracks the leveraged finance markets. One of those features was so-called PIK toggle, a popular structure before the financial crisis that gives an issuer the option to pay interest with more bonds rather than in cash. Debt was borrowed, too, to pay special dividends to companies’ owners, in a “dividend deal”. Typically, investors will accept these features from companies with ratings on the higher rungs of the junk category, but all four of these deals were rated triple C.

Bonnie Baha, head of global developed credit at DoubleLine, says there are now more riskier companies than in the past. “If you are just looking at spreads, you can say we still have room to run, but what people fail to recognise is that the credit quality of the relevant credit indices is lower now than it was at the previous low points in credit spreads and that alters the logic,” she says. The days of the junk bull run may be numbered.

Story: Junk bonds resilient as US recovery trumps oil, FT
Gas engine generator (guest) meinte am 16. Sep, 13:45:
The blog is really appreciable and i like to keep on visiting this site once again that it would help me in further thanks for sharing the info.
Bio gas
Power generation 
clothing buttons (guest) meinte am 25. Oct, 09:45:
clothing buttons
A last bit of trimming Flag Buttons concerns the lapels. Most jacket natural Coconut Buttons lapels include a button hole on the Shell Buttons left lapel, roughly an inch below the Wood Buttons gorge,which is generally crystal Glass Buttons sewn shut.On very high quality jackets,Metal Buttons pmya999 there will be a corresponding Overcoat Buttons button on the right lapel,though Pearl Buttons this is merely an element of style,Plastic buttons as the lapels of a suit jacket are never clothing buttons turned up in the manner of a military uniform.wholesale buttons On most any suit,the buttonhole cheap buttons can be opened, and on the very best. 
MayMay meinte am 3. Dec, 11:00:
daf
http://www.dafdfsa.info/ [url=http://www.dafdfsa.info/]fdsg[/url] dafd 
Wanda Chavez (guest) meinte am 31. Dec, 13:05:
Thank you for sharing your content of knowledge. Great Job. Etsy Avengers Hawkeye Vest 
tai zalo chat ve dien thoai (guest) meinte am 14. Apr, 11:27:
Chơi game chém trái cây vui nhộn trên dế yêu: game chem trai cay mien phi. game chem trai cay, chem trai cay, tai chem trai cay. Cùng đọc truyện cười thư giãn với nhiều thể loại truyên khác nhau: truyen cuoi tinh yeu, truyen cuoi hay , truyen cuoi dan gian 
Jhonalex1 meinte am 11. Dec, 16:55:
Nice post
What a great post shared here and this article contain useful information which i can not find in any other website which show your hard work and uniqueness of the content. I am happy to find it. Actually, i am looking research paper writing strategies if anyone have idea about it then must contact with me to share it.