High-Yield Bonds

High-yield bonds can offer issuers longer-term funding flexibility and can provide investors with enhanced yield — but they require careful structuring, clear disclosure and disciplined covenant drafting.

Deneys advises on high-yield bond transactions involving South African issuers, investors or assets, including covenant packages, security and intercreditor arrangements, subordination structures and restructuring or liability management scenarios.

We work closely with banking, restructuring and capital markets colleagues to align bond structures with funding strategy and risk allocation objectives. Where transactions are governed by foreign law or involve offshore issuance structures, we coordinate with international counsel while maintaining clear local leadership and accountability.