High Yield – Technology, Media & Telecommunications: Second
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High Yield – Technology, Media & Telecommunications: Second

Vivek Khanna

& team

Deutsche Bank

Uranked last year, the Deutsche Bank trio captained by Vivek Khanna returns in second place. The London-based team leader “has increased his efforts in terms of outreach, visiting clients and providing corporate access, which is a real value add,” declares one portfolio manager in New York. In June the team initiated coverage on Poland’s Polkomtel with a buy rating, citing the wireless provider’s robust cash flow, recent cost controls and growth opportunities in mobile broadband. The 11.75 percent 2020 senior notes, priced at €97.50 with a yield to worst of 12.4 percent, were a bargain, the analysts insisted. By mid-January the notes had rallied to €119.50 and the YTW had tightened to 6.4 percent — and the researchers still rate them a buy. — Ben Mattlin



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