Junk-bond investor unease resurfaces as another debt deal pulled

July 2, 2017

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A mining company pulled a junk-bond deal Friday in the latest sign that investors are losing their appetite for riskier corporate debt. Hecla Mining Co. pulled a bond sale following the biggest week of outflows from high-yield bond funds since early May and after at least three companies scrapped plans for junk deals last week. The gold and silver miner was expected to finalize selling $500-million of senior notes along with a tender offer for its 6.875% securities on Friday, but withdrew the deal as “terms and conditions were not sufficiently attractive,” Hecla said in a statement.

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