| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Oxford Finance Corp. > News item |
Quicken megadeal paces second straight $3.5 billion day; heavy trading in new Valeant
By Paul Deckelman and Paul A. Harris
New York, Dec. 5 – The high-yield primary market stayed red-hot on Tuesday, with half a dozen issuers churning out some $3.54 billion of dollar-denominated and fully junk-rated paper in six tranches.
It was the second consecutive session that issuance topped $3.5 billion.
Online lender Quicken Loans, Inc. had the big deal of the day – an upsized $1.1 billion regularly scheduled forward calendar offering of 10-year notes.
Consumer finance company OneMain Holdings, Inc. priced a quickly shopped and solidly upsized $875 million of 5.25-year notes, while Oxford Finance, which provides capital exclusively to life sciences and healthcare services companies throughout the world, did a regularly scheduled $300 million of five-year notes.
Away from the financial issuers, deathcare provider Service Corp. International drove by with an upsized $550 million of 10-year notes, while glass bottle manufacturer Owens-Illinois Inc.’s European division also did a quick-to-market $310 million offering of 5.25-year paper.
Iron ore miner Cleveland-Cliffs Inc. priced $400 million of six-year secured notes.
Domestic data services company Equinix, Inc. tapped the euro-denominated market with a €1 billion issue of 10-year notes.
Besides the deals that actually priced, high-yield syndicate sources saw other issuers lining up to sell new bond issues over the next few days, including Itron, Inc., Par Pacific Holdings, Inc. and ACE Cash Express, Inc.
In the secondary market, the new eight-year notes from Valeant Pharmaceuticals International, Inc. was the clear volume leader on the day.
© 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.