Royal Caribbean upsizes new deal; loanDepot, Teine Energy at a premium; Lions Gate lags

By Paul A. Harris and Abigail W. Adams

Portland, Me., March 24 – Royal Caribbean Cruises Ltd. (RCL) navigated through the junk bond primary market on Wednesday to land an upsized new bond deal.

Meanwhile, it was a sideways day in the secondary space with the market largely unchanged, a source said.

New paper continued to dominate the tape with several recent deals putting in strong performances.

LD Holdings Group LLC’s (loanDepot) 6 1/8% senior notes due 2028 (B2/B+) were putting in a strong performance with the notes trading on a 101-handle.

While Teine Energy Ltd.’s 6 7/8% senior notes due 2029 (B3/B+) and Liberty Communications of Puerto Rico LLC’s 5 1/8% senior secured notes due 2029 (B1/B+) did not reach the same heights, they maintained a decent premium on a soft day for the market.

However, Lions Gate Entertainment Corp.’s 5½% senior notes due 2029 (B3/CCC+) were lagging their issue price in active trading.

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