The post-Asian financial crisis era has been one of spread compression in the debt and loan products emerging from the region, thanks largely to ever-increasing liquidity and widespread corporate deleveraging. It is therefore hardly surprising against this backdrop that the high-yield space has become an irresistible arena for investors and lenders seeking more than the modicum of return on offer at the upper reaches of the credit spectrum. Hedge funds and private banks have helped fuel the growth of the sector, although there is one element...Read more