High Yield Bonds
WestLB's High Yield Capital Markets team is committed to the development of the European sub investment grade debt market through raising Sterling and Euro funds for European issuers from the European investor base.
Product Information
A typical European high yield bond structure will contain the following features:
| Maturity | 5-10 years (Bullet repayment) |
| Pricing | Fixed rate coupon (5-10 year benchmark plus spread based on market conditions and credit evaluation) |
| Ranking | Frequently subordinated to bank debt |
| Rating | Normally Ba1/BB+ or lower |
| Investor Base |
Credit focussed funds and institutions |