Blackboard, LPL, Wesco deals eyed; Grubhub declines; Community Health mixed

By Cristal Cody and James McCandless

Tupelo, Miss., Oct. 31 – Thursday was quiet for new paper in the high-yield market with earnings blackout periods in force, but there is promise of more new paper entering the space soon.

This week is the busiest week of the third-quarter reporting season with nearly 200 companies reporting results, a market source said.

However, Blackboard Inc., LPL Financial Holdings Inc. and Wesco Aircraft Holdings, Inc. were all being actively marketed.

Week to date, $4.5 billion of new junk bonds have priced.

In that new paper, recently priced notes by Ford Motor Credit Co. LLC, Royal Bank of Scotland Group plc and TransDigm Inc. were all heavily traded.

Food delivery name Grubhub Inc.’s issues declined after receiving a ratings downgrade amid doubts cast on its profitability.

Hospital operator Community Health Systems, Inc.’s paper varied in direction as its ratings were lowered.

On Thursday, Lipper US Fund Flows reported high-yield funds had inflows of $940 million for the past week ended Wednesday.

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