Summary |
Beyond Junk Bonds provides a one-stop data, reference, and case study presentation of the firms and securities in the contemporary high yield market and the financial innovations that spurred growth in the 1990s and will continue to finance the future. The high yield market incubated successive waves of financial technologies that now proliferate beyond junk bonds to all the dimensions and dynamics of global debt and equity capital markets. It charts the recovery of the market in the 1990s, the recent wave of the fallen angels, distressed credits and defaults, and suggests how the high yield market will be recreated in the global market of the 21st century. It explicates the linkages between the high yield market and other credit and equity markets in managing a firm’s capital structure to execute its business strategy.
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