Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for IMO Car Wash > News item |
Quiet primary in short session closes $4.46 billion week; Verso up; funds gain $90 million
By Paul Deckelman and Paul A. Harris
New York, July 3 – Junkbondland saw a quiet, abbreviated pre-holiday session on Thursday, with no dollar-denominated, junk-rated deals seen to have priced.
High-yield syndicate sources said that what primaryside activity there was all took place in the euro- and sterling-denominated segments of the market, with deals pricing from European issuers such as Iglo Group, IMO Car Wash, Care UK, IKKS Group SAS, Titan Cement Co. SA and – unusually – one American company, Jarden Corp.
That left new issuance for the week at a relatively sedate $4.46 billion in six tranches, according to data compiled by Prospect News.
Traders said there wasn’t very much going on in the way of actual transactions. However, they did see recent new deals from RJS Power Holdings LLC, AmSurg Corp., Jaguar Holding Co. I, Hub International Ltd. and Puma Energy all holding at solidly firmer levels versus their respective issue prices.
Away from the new deals, secondary activity was limited. But Verso Paper Corp.’s various bonds were seen trading multiple points higher, on brisk volume, in the wake of the new and improved exchange offer the company announced on Wednesday.
Statistical market-performance indicators were seen mixed for a second consecutive session on Thursday.
Another indicator, the flow of cash into or out of high-yield mutual funds and exchange-traded funds, was higher for a second consecutive week, bouncing back from a relatively rare recent negative reading.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.