High Yield
Fieldstone Capital Group is a division of a registered broker/dealer Fieldstone Services Corp. Fieldstone Capital Group is based in New York and has two main business lines: the High Yield group and the Collateralized Debt Obligations team. The High Yield group is focused on capital raising and institutional sales and trading.
Fieldstone High Yield's capital raising activities focus on project financing and raising capital for companies that are capital intensive, at early stages of their development and highly leveraged (i.e., non-investment grade). The group's objective is to provide objective advisory and financing solutions while offering a variety of integrated high yield products including: bank debt, bonds, bridge loans, preferred stock, mezzanine financing, and private equity.
Fieldstone Capital Group's sales and trading effort focuses on making secondary markets in high yield securities, including: high yield debt, distressed debt, convertible debt, crossover bonds, special situations, and intercapital swaps. The High Yield Group does not trade for its own account, and the company does not take proprietary positions, or principal risk (e.g., no front-running). Our client relationships, extensive research and ability to discern value provide valuable insights to both high yield and distressed debt accounts. We regularly trade large blocks and thinly-traded issues. As a result, we can move large positions for our clients under the radar screen. We serve a diverse group of investors (e.g., from hedge funds to large insurance companies), and as a result, this broad array of clients allows for smooth trade execution.
Our research is independent and objective. By design, our research team does not need to protect trading desk positions. Our research is focused on sectors and companies that receive little or no coverage (i.e., orphan credits or volatile sectors). Our research is balanced, with both the positives and negatives of the special situation.
Fieldstone Capital's team has many years experience in all types of markets, and its independent approach to the market allows for a focused effort on all areas of the market, particularly where an undervalued or overpriced situation may exist