Blue Yonder trades up; Fortress holds on to gains; Diamond Sports notes rally

By Paul A. Harris and Abigail W. Adams

Portland, Me., July 24 – While the domestic high-yield primary market rounded out the week with one add-on pricing, the European primary was active with two issuers pricing three tranches.

Alight Solutions priced an upsized $250 million fungible add-on to the Tempo Acquisition LLC and Tempo Finance Corp. 6¾% senior notes due June 1, 2025 (existing senior unsecured ratings Caa1/CCC+).

In Europe, U.K. pub operator Stonegate priced two tranches of five-year senior secured notes (B3/B+) and Sweden-based Intrum AB priced an upsized €600 million issue of five-year senior notes (//BB).

Meanwhile, the secondary space was holding up relatively well despite the downturn in equities, a market source said.

While some names were softer, the overall market closed the day largely unchanged.

However, volume was light with many starting their weekend early.

Blue Yonder’s 4¼% senior secured notes due Jan. 31, 2026 (B1/B-) were in focus with the notes putting in a strong performance in the secondary space.

After a strong break, Fortress Transportation and Infrastructure Investors LLC’s 9¾% senior notes due 2027 (Ba3/B/BB-) held on to their gains in active trading.

Outside of recent issues, Sinclair Broadcast Group Inc.’s two tranches of senior notes issued by Diamond Sports Group LLC and Diamond Sports Finance Co. continued their rally on Friday following the renewal of a contract with Comcast.

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