Issuer: Jazztel
Amount: €110 million and $100 million
Type of issue: high-yield bond
Date: April 8
Bookrunners: Credit Suisse First Boston, Merrill Lynch
In 1997 and early 1998, before it was virtually extinguished by last autumn’s flight from credit, Europe’s fledgling high-yield market found the bulk of its deals in telecoms. Now that the market is spluttering back into life, it is no surprise that telecoms deals are again leading the way. The deal that opened the market, for example, was for Dutch communications company Hermes Railtel in December.
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