Opaque bond documentation a risk to high yield investors
Market participants have warned an increasing number of European high yield bond offerings are accompanied by unclear – even misleading – documentation.
Investors and legal experts have expressed concern over a widespread lack of clarity and transparency in bond documentation on the European high yield market.
“There is a major question mark over the extent of disclosure, and the transparency and clarity of disclosure, in the context of many of these deals. In some of them, it’s opaque at best. This is a major issue that the market is going to have to address,” says Stephen Mostyn-Williams, founder and CEO of DebtXplained, a research and
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