High yield issuance picked up this week, even as leverage finance desks in Europe still grappled with Altice France’s repercussions and debt servicer Intrum caused further headaches in the background.

European lev loan issuance had been quieter since the Altice outbreak — and quieter post-Easter than many on the buyside expected — but LBO financings are resurgent, a signal that credit technicals remain solid with new M&A activity slowly opening up.