I'm interested in the state of the High-Yield Bond Market. I know that in the 80s high-yield bonds were used to finance large LBOs and that there was a few boom and busts. Are high-yield bonds still commonly used to finance LBOs? If so, does anyone have any idea on the percentage of high-yield bonds used for LBOs vs simply for fallen-angles and other regular capital raises?
Also, does anyone have any idea on banks whose Lev Fin groups work primarily on financing LBOs? My ideal job would be to work ontarget, pricing high-yield bonds (or syndicated loans) used for the acquisition, underwriting the financing (committing our banks to the deal), and then marketing the high-yield bond to investors (or to other banks if it's a syndication) to get the bonds (loans) off of our banks balance sheet. Do you think this type of Lev Fin job still exists?
Lastly, do you know if there's any place to find good data on high-yield bond issuers? I have access to FactSet and a Bloomberg terminal.
Thanks for all your help!
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