) jointly raised $1 billion on Tuesday, in the first unsecured junk-rated bond offerings since the market was roiled by the coronavirus outbreak at the start of March.
The offerings indicate investor appetite for risk is gradually returning in the market for new corporate debt rated below investment grade. “It opens up the new issue market on the investment-grade side, which then gives high-yield investors some confidence that the market can absorb new issuance,” said Zox.
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