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The European High Yield Association (EHYA) is to integrate its activities with The Bond Market Association’s (TBMA) European activities in London.

The London-based EHYA was established in 2001 and focuses on the development of the European high yield market and related leverage finance products. Its membership comprises high yield underwriters, investors, issuers and fund managers, as well as private equity firms, rating agencies, law firms and accounting firms.

TBMA, with offices in New York, Washington, D.C. and London, represents securities firms, banks and US asset managers that underwrite, invest, trade and sell debt securities and other financial products globally.

The new partnership will also allow the EHYA and TBMA’s US High Yield Committee to coordinate actions on issues of relevance to the high yield market in Europe and the US.

Bryant Edwards, a corporate partner at Latham & Watkins, and chairman of the EHYA, said: “This is a significant step for the EHYA, providing it with a full-time professional staff and strengthening its efforts with the benefit of the regulatory and lobbying resources of TBMA in both London and New York.”

In Europe, the activities the EHYA plans to address include EU Prospectus Directive issues, European bankruptcy reform, documentation standardisation, due diligence procedures, price transparency, promotion of the European high-yield market as well as corporate, bank and investor education events.

The EHYA will be based at TBMA’s European headquarters in London. Manfred Schepers, managing director and head of the Bond Market Association, International, said: “We are delighted to welcome the European High Yield Association to the BMA. The high yield market is an area of increased strategic growth in the European capital markets and the integration of the two associations will ensure efficient support to the high yield market across Europe and the US”