Akumin, Prime Healthcare, Aspen notes price; loanDepot in focus; Unisys sees 103-handle

By Paul A. Harris and Abigail W. Adams

Portland, Me., Oct. 23 – The domestic high-yield primary market saw three issues price during Friday’s session.

Akumin Inc. priced an upsized $400 million issue of five-year senior secured notes (B3/B-), and Prime Healthcare Services, Inc. priced an upsized $700 million issue of five-year senior secured notes (B2/B-/B).

Aspen Insurance’s $500 million issue of Highlands Holdings Bond Issuer, Ltd. and Highlands Holdings Bond Co-Issuer, Inc. 7 5/8%/8 3/8% five-year senior secured PIK toggle notes also cleared the market.

While Multi-Color Corp./LABL Intermediate Holding Corp., Advantage Sales & Marketing Inc. and Sizzling Platter, LLC were slated to price offerings on Friday, final terms were not available as off press time.

Meanwhile, the secondary space was quiet on Friday with the market continuing to move sideways on light volume, sources said.

New deals and earnings-related news were the driving force of trading activity.

loanDepot’s 6½% senior notes due 2025 were in focus with the notes putting in a strong performance in the secondary space.

Unisys Corp.’s 6 7/8% senior secured notes due 2027 (B2/BB-) jumped in active trading with the notes climbing to a 103-handle.

Outside of recent deals, Cleveland-Cliffs, Inc.’s senior notes were making gains on the heels of better-than-expected earnings reports.

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