Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2015 > News item |
Morning Commentary: Charter notes weaker; Comcast widens; credit spreads flat
By Cristal Cody
Tupelo, Miss., Aug. 13 – Investment-grade bonds opened the session flat to weaker in secondary trading, while new issue supply is expected to be strong over the session, according to market sources.
Charter Communications Inc.’s 4.908% notes due 2025 that priced in July traded modestly softer in early trading but remain nearly 20 basis points wider than issuance.
Comcast Corp.’s 3.375% notes due 2025 were seen nearly 10 bps wider in early trading on Thursday.
The Markit CDX North American Investment Grade index was unchanged over the morning at a spread of 76 bps.
Charter eases
Charter Communications’ 4.908% notes due 2025 softened about 1 bp to 278 bps offered, a market source said.
The company sold $4.5 billion of the notes on July 9 at a spread of Treasuries plus 260 bps.
The provider of cable, internet and phone services is based in Stamford, Conn.
Comcast weak
Comcast’s 3.375% notes due 2025 were seen about 9 bps wider at 139 bps offered in secondary trading, a market source said.
The company sold $1.5 billion of the notes on May 19 at Treasuries plus 110 bps.
The provider of entertainment, information and communication products and services is based in Philadelphia.
© 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.