Primary surge resumes, Jeld-Wen, Vantiv lead; new Mercer up more; funds add $217 million

By Paul Deckelman and Paul A. Harris

New York, Dec. 7 – The high-yield primary market resumed the kind of busy pace it set earlier in the week on Thursday, with syndicate sources seeing six issuers bring $2.43 billion of new dollar-denominated and fully junk rated paper to market in seven tranches.

Door and window manufacturer Jeld-Wen, Inc. had the big deal of the day, an $800 million two-part offering, evenly split between eight- and 10-year notes.

Vantiv, LLC, a provider of credit- and debit-card payment processing services, brought $500 million of eight-year notes to market as part of a $1.13 billion equivalent two-part, dual-currency transaction.

Among the deals which have already priced, secondary market traders saw brisk volume Wednesday’s offering from forest products producer Mercer International, Inc., which was seen adding to the robust gains it had notched in initial aftermarket activity after its pricing.

Away from the new or recently priced issues, hospital operator Community Health Systems, Inc.’s paper was seen both busy and getting battered around.

Statistical market performance measures turned mixed on Thursday after being lower on Wednesday for the first time since Nov. 15.

Flows of investor cash into or out of high-yield mutual funds and exchange-traded funds posted a second straight modest rise this week, as $217 million came into those funds.

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