Downsized Ellucian, upsized Tempur Sealy price, along with split-rated Corrections Corp.

By Paul Deckelman and Paul A. Harris

New York, Sept. 21 – Junkbondland opened the new week on Monday by pricing a pair of purely high-yield-rated deals plus one split-rated offering, as several other prospective new deals were heard making their way through the pipeline.

Higher education software provider Ellucian priced a downsized $490 million regularly scheduled issue of eight-year notes at a sizable discount to par.

Bedding manufacturer Tempur Sealy International, Inc. came to market with an upsized and quickly shopped $450 million eight-year credit, which was later quoted up around 1 point on the day

Corrections Corp. of America did $250 million split-rated seven-year issue, which moved up modestly after pricing

Meanwhile, syndicate sources said that price talk emerged on several pending issues, including the $1.5 billion two-part megadeal that chemical manufacturer Olin Corp. is doing, Building Materials Corp. of America’s $1.1 billion 10-year offering and rocket systems manufacturer Orbital ATK, Inc.’s $400 million of eight-year notes.

The sources also said that business services and information technology company Unisys Corp. had launched a $350 million five-year secured notes issue, with pricing expected on Tuesday.

Among recently priced new deals, wireline telecom operator Frontier Communications Corp.’s big three-part offering continued to trade actively and was seen having moved up a little from the post-pricing lows at which they had been trading last week.

Cablevision Systems Corp.’s bonds remained under pressure for a third straight session Monday.

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