High yield issuer unveils good results

Grohe, the German bath products company, has bucked the trend of recent junk bond issuers by bringing investors some good news.

Grohe, which issued €200m ($173m) of bonds in October, reported a 22% rise in profits for the nine months up to September 30 and a 10% rise in sales. The positive numbers have come as a welcome sign that all is not wrong with the market.

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