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[$$] A $10 Billion Junk-Debt Sale Crosses Finish Line

Power Solutions, the world’s largest maker of automotive batteries, sold roughly $3.7 billion worth of secured and unsecured bonds, denominated in both dollars and euros, along with around $6.5 billion in loans, also split between euro and U.S. dollar tranches, several investors said. Meeting strong demand from investors, banks last week were able to cut the expected yields on all pieces of the debt package, underscoring the resurgence of the speculative-grade market in recent months following a sharp downturn at the end of last year.