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Century Aluminum, TMS, Uniti price; Royal Caribbean, Goodyear improve; energy gains
By Paul A. Harris and Abigail W. Adams
Portland, Me., April 6 – The domestic high-yield primary market returned to action on Tuesday with three deals pricing and several more joining the forward calendar.
Uniti Group Inc. priced a $570 million issue of seven-year senior secured notes (B2/B).
TMS International Corp. priced an upsized $325 million issue of eight-year senior notes (Caa1/B).
And Century Aluminum Co. priced a $250 million issue of seven-year secured notes (Caa1/B).
Meanwhile, it was a sideways day in the secondary space with volume relatively light as market players awaited the new deals in the pipeline.
Uniti’s 7 7/8% senior notes due 2025 were active as market players awaited the company’s latest offering.
Several recent deals were also improved in active trading amid a shortage of new paper in recent sessions.
After a lackluster break, Goodyear Tire & Rubber Co.’s 5¼% senior notes due 2031 (B2/B+) continued to gain traction.
Royal Caribbean Cruises Ltd.’s 5½% senior notes due 2028 (B2/B) also continued to rise after sinking below par their initial days in the aftermarket.
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