Bloomberg News reports shale bond buyers are getting far more selective than they used to be and it’s because some of the oil and gas exploration companies are defaulting.
Energy companies are spending more cash than they make.
“High-yield energy companies have sold about half as much corporate debt this year as they had at the same time in 2018, according to data compiled by Bloomberg. Issuance in the broader junk bond market, by contrast, was up about 30%.”
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