Junk Bond Investors Are Squeezing Companies for Better Terms

Investors are seizing what may be a fleeting opportunity to negotiate better terms when buying high-yield debt, turning the tables on borrowers for the first time in years.

Companies that have sold junk bonds in the past month, including Bubble Wrap-maker Sealed Air Corp., luxury sneaker brand Golden Goose Group SpA, and telecommunications firm TDC Brands, have all conceded to demands for stronger legal protections for creditors.