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Diebold Nixdorf prices, Allied adds on; Alcoa flat; funds add $2.13 billion
By Abigail W. Adams
Portland, Me., July 9 – The domestic high-yield primary market continued to churn out new issuance on Thursday.
Diebold Nixdorf priced its two-tranche dual-currency offering of five-year senior secured notes (B3/B-).
And Allied Universal pricing an upsized $400 million add-on to its 6 5/8% senior secured notes due July 15, 2026 (B3/B-).
Blue Racer Midstream was also expected to price a $400 million offering of five-year senior notes (existing ratings B2/B/BB-) and Rattler Midstream its $500 million offering of five-year senior notes (Ba3/BBB-/BB+).
The new deal activity will continue on Friday with Carpenter Technology Corp. on deck with a split-rated offering of $400 million eight-year senior notes (existing Ba3/confirmed BBB-).
Meanwhile, Diebold’s new dollar-denominated tranche skyrocketed out of the gate.
After a strong break during Wednesday’s session, Taylor Morrison Communities Inc.’s 5 1/8% senior notes due 2030 (Ba3/BB) held on to their gains despite weak market conditions.
However, Alcoa Corp.’s 5½% senior notes due 2027 (Ba1/BB+) fell flat in high-volume activity.
High-yield mutual and exchange-traded funds pared their losses from last week’s record-setting outflow and added $2.131 billion for the week through Wednesday’s close, according to Refinitiv Lipper US Fund Flows.
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