Buyers of European junk bonds want better disclosure

London

INVESTORS are campaigning for private companies to make their financial information more available in a push for greater transparency in Europe's growing high-yield bond market.

The Association for Financial Markets in Europe (AFME) sent a list of companies to bond arrangers on behalf of a group of investors in an effort to spur debate about corporate disclosure, said Gary Simmons, director of AFME's high-yield division. The document names more than 75 borrowers they deem too protective of their data, with the aim of establishing standardised reporting, said sources.