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US high-yield supply surges as corporates grab refinancing opportunity


Elevated US Treasury yields have emboldened high-yield corporate borrowers to take advantage of cheap borrowing costs to refinance their debt, spurring analysts to hike their issuance forecasts and put the market on track for what could be another record year of supply.
It has been another active week in the high-yield primary with issuers pricing US$10.625bn across the first three days of the week. Refinancing has dominated the use of proceeds – US$7.95bn of the new debt raised through Wednesday will be used at least in part to refinance existing debt, according to IFR data.
With one eye on possible rate hikes high-yield corporate treasurers are becoming bolder in their refinancing plans, according to Andres Copete, director of debt capital markets at ING. ....

Andy Feltus , Andres Copete , Park Hotels Resorts , Jp Morgan , Midcap Financial Issuer Trust , Kaiser Aluminum , Brookfield Residential , Wall Street , பூங்கா ஹோட்டல் ரிசார்ட்ஸ் , ஜ்ப் மோர்கன் , கைசர் அலுமினியம் , ப்ரூக்ஃபீல்ட் குடியிருப்பு , சுவர் தெரு ,