April was another record-breaking month, which saw €12.8 billion of European high-yield paper enter the market from 24 issuers, exceeding last month’s €9.4 billion supply. Although the issuer count closely matched the previous month’s tally of 21, the record-breakingNumericable/Altice acquisition brought €4.3 billion in bonds to Europe alone, accounting for a third of total volume. This pushed year-to-date volume to €31.8 billion, a 15% increase year-on-year, and the highest year-to-date figure since LCD started tracking the market in 2006.
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