Flows and Levels
Global issue of high-yield bonds more than doubled in 2003 to nearly $146 billion in securities issued from less than $63 billion in 2002, although this is still less than the record of $150 billion in 1998. Issue is disproportionately centered in the United States, although issuers in Europe, Asia and South Africa have recently turned to high-yield debt in connection with refinancings and acquisitions. In 2006, European companies issued over €31 billion of high-yield bonds. 2010 was a record year for European Junk Bond issuance, with as much as €50bn expected.
Read more about this topic: High-yield Debt
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