Midday Commentary: New Jarden seen flat to lower in aftermarket; Apollo at 101; Vipshop at 101.5

By Rebecca Melvin

New York, March 12 - Jarden Corp.'s newly priced 1.125% convertibles traded early Wednesday at 99 bid, 100 offered after the Rye, N.Y.-based consumer products company priced $600 million of the 20-year convertible bonds at the midpoint of talked terms, market sources said.

Jarden shares were slightly lower in the early going and were last seen down 14 cents at $60.97.

Apollo Commercial Real Estate Finance Inc.'s newly priced 5.5% convertibles changed hands at 101.3 at late morning, according to Trace data, after the New York-based real estate investment trust priced an upsized $125 million of the five-year convertible senior notes at mixed terms.

Apollo shares were flat to higher.

Vipshop Holdings Ltd.'s newly priced 1.5% convertibles traded at 101.5 after the Guangzhou, China-based online discount retailer priced an upsized $550 million of five-year convertible notes.

Vipshop shares were up 3%.

Back in established issues, trading was quiet. "All volume is new issues," a New York-based trader said.

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