But Michael Milken and his team at Drexel Burnham Lambert, an investment bank, discovered there was a market for high-yield debt from new issuers, often in connection with companies making takeover bids.

但是米歇尔米尔肯同其在德崇公司(一家投行)的团队发现，新证券发放者那里存在着一个高收益债务市场，这些发放者通常都与进行收购行为的公司有联系.