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Article: Bankruptcy: More Money, Same Problems.(News)
- Article from:
- Bank Loan Report
- Article date:
- November 2, 2009
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Byline: Matthew Sheahan
While the credit markets are in the throws of an exhilarating run, led by a rationally or irrationally exuberant high yield bond market, bankruptcies have not gone away, in fact the pace is picking back up again.
While the high yield market has funded many comers, the issuers who have succeeded in pricing new bonds are the tip of the iceberg as far as negatively impacted companies that are in need of financing, market observers note. "The high yield market is smoking with companies that were previously accessing the commercial paper markets or high grade markets and have had to come down the marketplace to access capital," said ...