Issuer: NTL
Date: October 1998
Amount: $1,075 million
Bookrunners: Donaldson Lufkin & Jenrette, Morgan Stanley
Many successful and well-executed high-yield deals, including Orange, William Hill and Sirona, were done in the first eight months of 1998 while the youthful European high-yield debt market was booming. But the most impressive deals were those clinched in the midst of the crisis that followed meltdown in Russia. These helped to reopen the secondary market, kick-start new issuance and generally restore investor confidence in credit.
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