Cash-rich firms benefit by repurchasing high-yield bonds

08/23/2011 | International Financing Review

Companies with a comfortable level of liquidity are considering buying back their debt to take advantage of the market's weakening enthusiasm for high-yield debt. South African retailer Edcon, owned by U.S. private-equity giant Bain Capital, said it made a $4.9 million capital gain when it repurchased bonds in May.

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