Junk Bond Tap Turns On

Junk Bond Tap Turns On

Bonds

Bond supply resumed later in the year than usual because of a rise the global risk aversion driven by the sub-prime scare. But the taps turned back on in October, particularly for high yield. Mexico got the ball rolling, as per tradition, and bankers predict a solid end to the year, despite competition from loans and local markets, as well as continued external turbulence. TGI, the Colombian state-owned utility, kicked off the junk party with $750 million in 2017 dollar-denominated notes prices at par to yield 9.50%, marking the first significant cross-border LatAm corporate since July. The amount was $150 million short of the planned $900 million size, although demand is heard to have reac

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