European junk bond issuance reached a record monthly volume of 22.5 billion euros.

The European high-yield bond market set a new issuance record in June, with investors continuing to pour into this attractive asset class that offers both high yield and relative stability. Institutional data compilation shows that companies issued a total of 22.5 billion euros worth of junk bonds last month, nearly 4 billion euros higher than the previous record set in June 2021. This month, the market saw another landmark transaction - Flora Food Group BV, backed by KKR Group, priced its first CCC-rated bond in nearly a year, which is considered one of the lowest credit ratings.