Brand Industrial navigates junkland; Univision holds premium; Anywhere up on exchange

By Paul A. Harris and Abigail W. Adams

Portland, Me., July 25 – Brand Industrial Services, Inc. bookrunners were busy on Tuesday as a new junk bond deal priced and terms were hammered out throughout the session.

Meanwhile, it was another quiet and flat day in the secondary space with credit spreads holding at their tightest levels of the year.

New issues were the drivers of activity in the space on Tuesday as market players awaited earnings and the Federal Open Market Committee’s Wednesday announcement to fuel further movement.

Univision Communications Inc.’s new 8% senior secured notes due 2028 (B1/B+) were in focus with the notes holding the nominal premium gained after breaking for trade the previous session.

Outside of new paper, earnings and topical news fueled the largest gainers of the session.

WW International, Inc.’s 4˝% senior notes due 2029 (B3/B) outperformed on Tuesday with the weight-loss company’s heavily-shorted stock also gaining double digits.

Anywhere Real Estate Inc.’s (formerly Realogy Holdings Corp.) senior notes (B2/B) resumed their strong upward momentum with the notes adding 3 points after announcing an exchange deal alongside earnings.

© 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.