Continental adds to high-yield glut

German tyre maker sells the biggest junk bond since issuance in these markets ground to a halt following May's volatility

The market for European junk bonds has been boosted by two deals today, including the largest since volatility in May brought high-yield sales to a halt, in a sign that issuance could yet reach record levels this year.

German auto parts manufacturer Continental today priced a €750m ($947.5m) five-year bond, the largest since the European market reopened in early June with a small deal from French drinks manufacturer Rémy Cointreau, and larger than the €650m deal that HeidelbergCement brought at the end of June.

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