Junk-Debt Deals Postponed as Falling Oil Saps Demand

``Two energy-related companies are postponing financings after a plunge in oil prices made their high-yield, high-risk debt more difficult to sell... Investors in bonds of junk-rated energy companies are facing losses of more than $11 billion as oil prices dropped to a five-year-low of $63.72 a barrel this week. This is deepening concern that the riskiest oil explorers won't be able to meet their obligations, and sending their borrowing costs to the highest since 2010.'' -- Don't tell Ambrose Evans-Pritchard, you'll shatter his illusion that everything is just honkey-dorey in the US shale patch because "everyone has sale prices locked in till 2015"...