Companies sell a record volume of high-yield bonds

03/29/2010 | Financial Times (tiered subscription model)

Global issuance of high-yield corporate bonds reached a record high in the first quarter at $67.8 billion. Companies backed by private equity are striving to refinance debt they took on during the past decade, fueling the surge. "This [refinancing] will be a theme for many years," said John Cokinos, Bank of America Merrill Lynch's head of high-yield capital markets.

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