Market Wrap

Top of the Flops - Distressed Watchlist Mid-July 22

Chris Haffenden's avatar
  1. Chris Haffenden
7 min read

After a sharp sell-off in European LevFin prices in the second half of June, the pace of price declines has abated in the past couple of weeks, but there is little sign of a rebound. Last Friday the iTraxx Crossover closed at 606 bps (it hit 626, last Thursday). As indicated in our previous report, a swathe of senior secured paper is at double-digit yields. Recent primary deals for Manuchar888 and Schustermann & Borenstein were priced at what we consider stressed levels.

Read all our public content for free

We won't spam. You can unsubscribe at any time.

What are you waiting for?

Try it out
  • We're trusted by 9 of the top 10 Investment Banks

Cookies & Privacy

We would like to use cookies to improve our service. Is that ok?