HALISTER1: LEVFIN SNAPSHOT: OHL Notes Rise, Johnston Press Bonds Decline

LEVFIN SNAPSHOT: OHL Notes Rise, Johnston Press Bonds Decline

(Bloomberg) -- Credit markets tighten for a fifth consecutive session as synthetic spreads continue to recover from their post-Brexit widening.
  • OHL bonds among best performing in EUR HY today as El Confidencial reports HNA proposed buying half of OHL’s capital
  • Johnston Press sterling notes drop to fresh lows as co. to sell Isle of Man titles as part of a divestment program
  • WFS bonds fell most within BofAML HEAD Index on Friday
  • Rothschild Asset Management favors EM, high yield bonds
  • Norway’s junk bond market faces second wave of restructuring
  • In primary, the banking sector has reclaimed some market share from the HY bond market, which has recently lost its appetite for the small, illiquid issues from unknown companies, Hermes’ co-head of credit said
  • Market participants are expecting a pick-up in bond issuance this week: Bloomberg survey
  • 18 CLO deals for EU7.21b priced in 1H16 vs 19/EU7.56b in 1H15, Bloomberg data show
  • See also: U.S. lev loans calendar, U.S. HY pipeline
MARKET ROUNDUP
  • iTraxx Main down 1.2bps to 78.57, iTraxx Crossover narrows 7.6bps to 341.57
  • EUR IG spreads down 1.2bps to 63.24, EUR HY spreads narrow 4.9bps to 388.91
  • Euro Stoxx 600 down 0.4% to 331.03
  • S&P ELLI index up 0.01% to 96.49
  • BofAML HEAD total return index value up 0.34% to 245
  • Bloomberg EUR HY index YTW down 42.1bps to 4.07%
  • Sources: FICM, WBIX, BofAML; bond pricing CBBT at 12:15pm London time
  • Some information comes from loan, bond traders familiar with the transactions who asked not to be identified because they are not authorized to speak publicly
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
JPR LN (Johnston Press PLC)
OHL SM (Obrascon Huarte Lain SA)

Topics
Leveraged Finance

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