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Credit Brief: Even the Equity’s Mostly Debt; Anarchy in the UK

Sept. 30, 2022, 12:30 PM

Read the weekly Credit Brief here.

  • The Brightspeed LBO is so heavily levered, even the equity is mostly debt. That’s part of why a bond and loan sale tied to the deal was pulled
  • Yields on blue-chip corporate debt have jumped high enough to attract some unlikely buyers, namely junk-bond investors
  • In just a few days, about a third of the bonds in the UK high-grade market have dropped to prices usually associated with distressed debt.

The Credit Brief is published every Thursday at 4 p.m. ET. Subscribe here.

To contact the reporters on this story:
Caleb Mutua ...