Citrix was struggling to borrow $4Bn for a leveraged buyout, they issued bonds that effectively yield 10% annually. That's a massive return we haven't seen forever in fixed income.
Yeah, sure. That being said, the fact that there haven't been any other deals like this this year is a suggestion that the market for them has changed, mostly independently of the company involved.
its not just Citrix but corporate bond liquidity was highlighted in 2019 then the pandemic happened and everybody just glossed over it. now the pace of liquidity crunch across all corporate bonds is picking up as rates pick up.
The curious part is that even with insane returns, they still struggled to get attention from institutional investors who appear to be a mix of cash and short positions.
If you have to ask, probably the better approach is to buy a junk bond ETF like any of the ones on [0]. This will give you a more diversified portfolio than just betting on Citrix.
When I first saw this @azlyrics comment was dead and I'm wondering what the fuzz is.