PHT - Riskiest Junk-Rated Companies Borrow At Lowest Cost Ever Amid Torrid Yield Chasing

April, 22 2021 10:20 AM Pioneer High Income Trust of Beneficial Interest

The average CCC-or-below rated junk bonds have yielded between 7.09% and 7.16% over the past two weeks, a new all-time record low.
AMC Entertainment, which has been talking about how it is trying to stave off a bankruptcy filing, issued $500 million of secured notes in April 2020 to give it more cash to burn, as its theaters were shut down, and as its revenues were collapsing.
This fresh money being shoveled at deeply troubled companies, by investors that are engaged in a raging chase for yield, gives these companies more cash to burn.

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Company Name:	Pioneer High Income Trust of Beneficial Interest
Stock Symbol:	PHT
Market:	NYSE