Wesco Aircraft under pressure; Occidental Petroleum gains, Ford, AMC active junk names

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 1 – While the domestic high-yield primary market remained dormant on Wednesday, the Scandinavian market saw one deal price.

DNO priced an upsized $400 million issue of five-year notes in an oversubscribed offering.

Meanwhile, the secondary space was largely unchanged on Wednesday although there were pockets of weakness in the space, a source said.

Volume remained light with few notable movements in the names that did trade.

Incora, a company created through the merger of Wesco Aircraft Holdings Inc. and Pattonair, was the exception.

The company’s junk bonds fell downward in excess of 5 points following disappointing earnings and the resignation of the company’s chief financial officer.

Occidental Petroleum Corp.’s junk bonds were up on the week although largely unchanged on the day as crude oil futures swung between gains and losses as OPEC met.

Ford Motor Co.’s 8˝% senior notes due 2023 and AMC Entertainment Holdings, Inc.’s 12% second-lien senior secured notes due 2026 (Ca/C) were actively traded although with little movement in price.

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