Altegrity, Ithaca Energy, New Cotai price; AmSurg, Puma slate to open pre-holiday week

By Paul Deckelman and Paul A. Harris

New York, June 30 – The high-yield primary market formally closed the books on the first half of the year on Monday with some $1.22 billion of new paper being priced in the final three transactions of the period.

Syndicate sources said that the big deal of the session came from Altegrity, Inc., a Falls Church, Va.-based risk and information services company.

The company priced a solidly upsized $825 million issue of five-year secured notes, which included improved investor call protection.

Aberdeen Scotland-based oil and natural gas exploration and production company Ithaca Energy Inc. brought a $300 million issue of five-year notes to market.

Both of those transactions were regularly scheduled deals pricing off the forward calendar.

There was also one quickly shopped issue, as New Cotai LLC, a Greenwich, Conn.-based developer of gaming properties in China’s Macau gambling enclave, did an $87.5 million fungible add-on to its existing $380 million of 2019 bonds sold last year.

Traders said the New Cotai issue was too small, while the Altegrity and Ithaca deals priced too late in the session for any kind of an aftermarket.

Away from the issues actually priced, the syndicate sources heard that AmSurg Corp. and Puma Energy will be shopping deals around this week, with any pricing expected to take place on Tuesday or, at the latest, Wednesday as the market winds down ahead of the July 4th holiday.

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