TransDigm dives by with $2.65 billion; PG&E improves; Grubhub declines

By James McCandless and Paul A. Harris

San Antonio, Oct. 28 – The high-yield drive-through window opened wide on Tuesday, as TransDigm Inc. priced an upsized, quick-to-market $2.65 billion issue of eight-year notes, and secondary trading was awash with names reporting earnings and other newsmakers.

Meanwhile London-based BBA Aviation plc priced a $650 million issue of 8.25-year senior notes at par to yield 4%.

In the secondary, recent notes from FXI Holdings, Inc. and American Builders & Contractors Supply Co., Inc. were active, but diverged in direction, with the former rising and the latter falling.

In utilities, PG&E Corp.’s issues bounced back from recent lows stemming from negative press surrounding power outages and wildfires.

Food delivery company Grubhub Inc.’s paper declined in reaction to its earnings report.

Telecom name Intelsat SA’s notes varied after the company released its uneven third-quarter earnings.

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