Helios prices; Encino under pressure; Ahead DB in demand; StoneMor, Wheel Pros at a premium

By Paul A. Harris and Abigail W. Adams

Portland, Me., April 26 – The domestic high-yield primary market saw one deal price during Monday’s session.

Helios Software Holdings, Inc. was the sole issuer to tap the market with its $350 million issue of seven-year senior secured notes (B2/B).

Meanwhile, it was another quiet day in the secondary space with the market largely unchanged.

“We’re just chugging along sideways,” a source said.

While unchanged on Monday, the coming week promised to be busy with a slew of earnings expected throughout the week and the Federal Reserve’s two-day meeting set to conclude on Wednesday.

New paper was active although with mixed trajectories.

Encino Acquisition Partners Holdings, LLC’s 8½% senior notes due 2028 (B3/B/B) were under pressure with the notes trading down to a 98-handle.

However, Ahead DB Holdings’ 6 5/8% senior notes due 2028 (Caa1/CCC+) outperformed with the notes trading up to a 102-handle despite a lower coupon and credit rating.

Wheel Pros, Inc.’s 6 ½% senior notes due 2029 (Caa2/CCC) and StoneMor Inc.’s 8½% senior notes due 2029 were also trading with a healthy premium in the aftermarket.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.