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Published on 10/12/2021 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News Emerging Markets Daily, Prospect News Investment Grade Daily and Prospect News Private Placement Daily.

Junk calendar balloons; Carnival, DISH come in; R.R. Donnelley gains on buyout offer

By Paul A. Harris and Abigail W. Adams

Portland, Me., Oct. 12 – The post-holiday Tuesday session began the abbreviated Oct. 11 week with a blast of new issue news that loaded up the active deal calendar with $7.3 billion of business, most if not all of it expected to clear before Friday's close.

However none of those announcements involved drive-bys, so no deals priced on Tuesday.

It was a slow return from the long holiday weekend in the secondary space with the market soft and volume light as market players awaited the latest Consumer Price Index report on Wednesday, sources said.

Carnival Corp.’s 5¾% senior notes due 2027 (B2/B) were down about ¼ point in high-volume activity.

DISH DBS Corp.’s already struggling 5 1/8% senior notes due 2029 (B2/B-) were also trending lower in active trading.

However, R.R. Donnelley & Sons Co.’s 6 1/8% senior secured notes due 2026 (B1/B+) jumped almost 3 points following news of a buyout offer.


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