"Not only are there more issues, but the book sizes are significantly larger," said Ivan Adzaip, a debt syndicate banker at Swedbank AB in Stockholm. "If this continues at this pace, we should expect 2021 to be a record year, at least on the high-yield side."
Adzaip says only two issuers turned to Sweden’s junk bond market in January last year. By March, investors started to bolt as a pandemic-driven panic ultimately led more than 30 Swedish fixed-income funds to temporarily shut their doors on redemptions, in a frantic effort to hold on to liquidity.
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