Firms across Europe face €88bn in Covid-19 debt wave

Hundreds of high-risk companies in Europe need to repay or refinance nearly €88bn in the coming months, a prospect that becomes more daunting by the day amid the relentless collapse in credit markets.

From Germany’s Thyssenkrupp to Telecom Italia, around 600 European high-yield and non-rated bond borrowers have €82bn bonds maturing by the end of 2021, a narrow window to get deals done.