Apollo finds a line yield-seekers won’t cross
Leon Black, Chairman and CEO Apollo Global Management, LLC, takes part in Private Equity: Rebalancing Risk session during the 2014 Milken Institute Global Conference in Beverly Hills, California April 29, 2014. REUTERS/Kevork Djansezian (UNITED STATES - Tags: BUSINESS) - RTR3N514
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Leon Black's buyout shop yanked a 500 mln euro debt issue for French bottle maker Verallia after investors balked. They disliked that they might be paid in more debt while Apollo returned itself some cash. Brexit, Trump and ECB fears finally are rousing bond buyers to push back.
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