AmSurg, Jaguar, Hub, Puma deals open second half; Isle of Capri up on renewed sale talks

By Paul Deckelman and Paul A. Harris

New York, July 1 – The high-yield primary sphere kicked off the second half of the year on Tuesday with a session that saw some $2.35 billion of dollar-denominated, fully junk-rated new paper come to market.

The big deal of the day was AmSurg Corp.’s upsized $1.1 billion of eight-year notes.

Puma Energy Holdings Pte. Ltd. did a $250 million add-on to its existing 2021 notes.

Both of those offerings were regularly scheduled forward-calendar transactions.

The day also saw a pair of opportunistically timed drive-by pricings.

Jaguar Holding Co. I did a $600 million add-on to its existing 2017 PIK toggle notes.

And Hub International Ltd. priced $380 million of five-year senior contingent cash-pay notes via a pair of financing subsidiaries.

In the secondary realm, traders saw both the new AmSurg bonds and new Jaguar issue having firmed from their respective issue prices, with very active dealings seen in the AmSurg paper.

Away from the new deals, traders said that Isle of Capri Casinos Inc.’s paper was up solidly for a second consecutive session, helped by the news that the company had resumed talks about a possible sale of the company to Gaming and Leisure Properties Inc.

Overall, traders said that the market had a positive tone to it.

Statistical market-performance indicators were seen heading higher after having been mixed on Monday.

© 2015 Prospect News.
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