Findexa, the Norwegian directories business formerly known as Telenor Media, raised €145m ($129.1m) on Wednesday, giving hope to a market whose future has been in doubt after a troubled year.

The performance of the deal, which is expected to be the last offering in the European high-yield bond market this year, was clear evidence of the strength of demand for high-yield debt. The issue, which was lead managed by Schroder Salomon Smith Barney, closed more than five times oversubscribed.