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Fairstone, Hannon Armstrong, Springleaf tap price; Sirius Computer on deck
By Paul A. Harris and Abigail W. Adams
Portland, Me., June 26 – Following Monday and Tuesday sessions that saw a combined $7.36 billion of new issuance, the hard charging domestic high-yield primary market hit cruise control on Wednesday, printing just $950 million of new bonds in three tranches.
Hannon Armstrong Sustainable Infrastructure Capital Inc. priced an upsized $350 million issue of green eligible five-year senior notes (BB+/BB+) at par to yield 5¼%.
Fairstone Financial Inc. priced a $300 million issue of 7 7/8% five-year senior notes (B1/B) at 99.484 to yield 8%.
Springleaf Finance Corp. priced a $300 million add-on to its 6 1/8% senior bullet notes due March 15, 2024 (Ba3/BB-) at 107.00.
Virtu Financial was expected to price a $525 million offering in a drive-by. However, the deal was heard to be held over.
The forward calendar remains robust with Sirius Computer Solutions, Inc. expected to price its $300 million offering of eight-year senior notes (Caa1/CCC+) on Thursday.
While the market awaits official word on Allied Universal Holdco LLC’s $1.55 billion two-tranche offering, it was heard to be following a similar trajectory as other deals with secured and unsecured tranches.
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