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IPFS News Link • Economy - Economics USA

Junk Bond Market Reopens With 6x Oversubscribed Offering From YUM! Brands

•, by Tyler Durden

That changed on Monday, when the first junk bond in nearly a month was marketed, a sign that even the high yield market is starting to recovery.

According to Bloomberg, YUM! Brands is looking to sell $500 million, the first high-yield bond to hit the U.S. market since Charter Communications on March 4. As we first observed last week when we noted that the "Bond Market Tears In Two: Distressed Debt Is Cratering, As Fed Buying Of Investment Grade Sends LQD NAV Soaring", the investment-grade bond market has been pumping out deals in record volumes, but the high-yield market has been slower to ignite, amid a surge of debt trading at distressed levels.