Aston Martin is about as far away from junk as you can imagine. But the luxury car manufacturer favoured by James Bond and investment bankers last week became the latest company to jump into the booming European high-yield bond market.

The company's proposed £300m bond issue is the latest from a first-time issuer, as companies turn to high-yield bonds as an alternative to the difficult bank lending market, to take advantage of attractive terms, and to meet bulging demand from investors hungry for yield.