Morning Commentary: New PROS adds; new ANI up slightly; energy sector names steady

By Rebecca Melvin

New York, Dec. 5 – PROS Holdings Inc.’s newly priced 2% convertibles traded up to about 102.5 in the early going Friday after the provider of pricing and margin software priced a $125 million offering of the five-year senior notes at the midpoint of talk.

The PROS convertible was quoted at 102.25 bid, 102.75 offered with the underlying shares up fractionally.

Shares fluctuated through the morning but were last up 6 cents at $26.05.

Also in primary action, ANI Pharmaceuticals Inc. priced an upsized $125 million offering of five-year convertible senior notes at the rich end of talked terms.

The new ANI convertibles were quoted at 101 bid 101.5 offered, with shares up by about 1%. ANI shares were last up 42 cents, or 0.8%, at $53.87.

Energy names were “in the same place as they were yesterday,” a New York-based trader said.

Energy names that were trading included Chesapeake Energy Corp.’s sister issues and Stone Energy Corp.

Pricing of these two names was consistent with Thursday’s levels.

© 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.