Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Forward Air Corp. > News item |
Cetera prices; Forward Air, airlines, Ardagh under pressure; junk funds lose $942 million
By Paul A. Harris and Abigail W. Adams
Portland, Me., Oct. 26 – The domestic high-yield primary market cleared one deal on Thursday, leaving one remaining on the forward calendar although its future is unclear.
Cetera Financial Group Inc. priced a $700 million issue of Aretec Escrow Issuer 2 Inc. 10% senior secured notes due Aug. 15, 2030 (B2/B) at par.
Meanwhile, there have been no updates on the Global Aircraft Leasing Co., Ltd. and Global Sea Containers II Ltd. $1.95 billion offering of five-year senior PIK toggle notes (Ba2//BB-), which has been in the market for more than two weeks.
Forward Air Corp.’s 9½% senior secured notes due 2031 were lower in heavy volume after the company announced it may terminate its acquisition of Omni Newco LLC, which proceeds from the sale of the notes was to support.
Hawaiian Airlines’ 5¾% first-lien senior secured notes due 2026 and Spirit Airlines, Inc.’s 8% senior secured first-lien notes due 2025, issued by Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., were under pressure with the airlines the latest to disappoint with earnings.
However, Ardagh Holdings USA Inc.’s senior notes claimed the title of the largest loser of Thursday’s session with its secured notes down 2 points and its unsecured notes plunging 7 points post-earnings.
High-yield mutual funds and exchange-traded funds saw $942 million leave the space in the week through Wednesday’s close.
© 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.