SNF Floerger, Tutor Perini, Endo, Tennant price; Toys ‘R’ Us jumps; recent issues mixed

By Colin Hanner and Paul A. Harris

Chicago, April 12 – Four high-yield issuers priced $1.6 billion of new notes on Wednesday while activity in the secondary market was sparse, traders said, although there was noteworthy volume behind recent new issues and Toys ‘R’ Us, Inc. after the toy retailer announced its fourth quarter earnings.

SNF Floerger Group, a subsidiary of SPCM SA, priced an upsized $500 million issue, Tutor Perini Corp. priced a $500 million issue, Endo International plc priced a downsized $300 million issue and Tennant Co. priced a $300 million issue.

In the secondary market, Toys ‘R’ Us was the largest gainer with volume on the session as its fourth quarter results came in mixed.

Recent issues Barminco Finance Pty Ltd. and Ultra Petroleum Corp. were both down marginally, though Cedar Fair LP was unchanged.

Endo International rebounded in the secondary market after dropping by a round number on Tuesday’s session. Valeant Pharmaceuticals International Inc. trailed with a fractional loss.

Several one-off names traded with a small number of printed issues, traders said, speaking to the activity dying down in markets as the shortened week comes to a close.

“Activity is even lesser today” compared to Tuesday, a trader said.

“It seems like the Easter holiday is well underway,” another trader said.

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