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Novelis megadeal prices; forward calendar surges; DishTV weakens; Builders gains
By Paul A. Harris and Abigail W. Adams
Portland, Me., July 26 – The domestic high-yield primary market was active on Monday with one megadeal pricing in a drive-by and the forward calendar swelling to $7.29 billion.
Novelis Corp. priced a $1.5 billion two-part offering of senior notes (B1/BB).
The active forward calendar also ballooned to $7.29 billion with several megadeals on deck.
Meanwhile, it was a quiet day in the secondary space with volume light as market players eyed the new deals in the pipeline.
New and recent issues continued to dominate the tape.
DirecTV Entertainment Holdings LLC’s 5 7/8% senior secured notes due 2027 (Ba3/BB/BBB-) remained in focus although the notes were coming in slightly from the heights reached the previous session.
However, Builders FirstSource, Inc.’s 4¼% senior notes due 2032 (B1/B+) were gaining steam in active trading.
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