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

Jonathan Horner, Daniel Rekrut

Barclays

Barclays drops one notch to No. 3. Daniel Rekrut, who used to cover the sector solo, is joined this year by newcomer Jonathan Horner. The London-based researchers are “clear thinking and insightful,” as one money manager puts it. In January they upgraded Spanish cable operator Ono’s subordinated notes from market weight to overweight — both the 11.125 percent 2019 bonds, at a yield of 10.87 percent, and the 10.875 percent 2019 notes, yielding 10.81 percent. The company is poised for strong free cash flow generation, they argued, having completed network upgrades and recently refinanced its balance sheet. — Ben Mattlin



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