High Yield vis a vis the KG

By Matt McCleery

Most people think that the US High Yield bond market and the German KG market have a lot in common since they both offer unsecured financing that, when added to reasonably priced commercial bank debt, can allow owners to acheive 100% financing at a reasonable overall cost. But that is where the similiarities end. In this brief piece, we thought it would be helpful to our shipowner readers to see an “apples to apples” comparison of the two structures and a profile of the companies that have used each of the structures.

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