Sub-investment grade leveraged buyout targets Travelport and Eircom have stormed back into the junk bond market amid a shaky backdrop for the asset class following the difficulties faced by Dutch media company VNU.

Travelport, the global travel distribution services division of US conglomerate Cendant, yesterday gave investors price guidance for the $1.4bn (€1.1bn) five tranche deal, which is expected to be priced by the end of today. The issue forms part of the debt financing needed for private equity firm Blackstone's $4.3bn leveraged buyout in June.