The Winning Credit Trades That Made Debt Investors Rich in 2020
- Airbnb hands lenders a windfall after initial public offering
- Tupperware comes back from brink on home-cooking revival
As the pandemic took hold, few industries were in more desperate need of capital than cruise lines.
Photographer: Tim Rue/BloombergThis article is for subscribers only.
It was a year like no other in credit.
Markets plunged at the onset of the pandemic, sending entire sectors teetering toward oblivion. Once solid companies were suddenly paying double-digit yields in a mad scramble for liquidity, while venerable household names could be scooped up for pennies on the dollar.