Spectrum Brands Inc. , the maker of batteries, pet food, and lawn-care products, is marketing debt as companies involved in acquisitions test a market where issuance has fallen to the lowest in more than a year.
OnCure Holdings Inc., a manager of radiation oncology treatment centers for cancer patients, is marketing $210 million of notes as analysts boost forecasts on 2010 returns for high-yield, high-risk corporate debt.
Put Bill Gross , manager of the world’s biggest bond fund, and ex-Morgan Stanley President Zoe Cruz in the camp that sees investor demand for low-rated corporate debt even as super-safe U.S. Treasuries rally on concerns that the economy is slowing down.
The cost of protecting against defaults on senior notes of European banks is soaring on speculation bondholders will be forced to take losses as governments try to share the burden of taxpayer-funded bailouts.
Leon Black’s Apollo Global Management LLC is dominating the junk bond market this month with more than $4 billion of sales, taking advantage of a record rally to refinance maturing debt and pay for new takeovers.