Europe’s Junk Bonds Cap Record Month With €22.5 Billion of Sales

European junk bond issuance hit a new record in June and deals are continuing to flood in as investors pour money into an asset class offering attractive yields and relative stability.

Companies sold €22.5 billion ($26.6 billion) of junk-rated bonds last month, beating the previous record from June 2021 by nearly €4 billion, according to data compiled by Bloomberg. The flurry of issuance was capped by Monday’s pricing of the first Triple C-rated deal — one of the lowest ratings band in the credit spectrum — in nearly a year, courtesy of KKR Inc.-backed Flora Food Group BV.