Charles River, Alcoa price; forward calendar grows; Playtika holds; Twilio active

By Paul A. Harris and Abigail W. Adams

Portland, Me., March 8 – Two issuers brought a total of three dollar-denominated tranches of high-yield notes in Monday drive-by deals, raising a combined total of $1.5 billion.

All three tranches priced at the tight end of talk.

Charles River Laboratories International, Inc. priced $1 billion of senior notes (Ba2/BB) in two tranches.

Alcoa Nederland Holding BV priced a $500 million issue of eight-year senior notes (Ba1/BB+).

There was also a substantial buildup in the forward calendar with Crocs, Inc. and Synaptics Inc. starting roadshows.

The market was also abuzz about a $5 billion two-part amortizing secured bullet deal from American Airlines, Inc. and its frequent flyer business AAdvantage Loyalty IP Ltd.

Meanwhile, it was a soft day in the secondary space with more sellers than buyers in the market, a source said.

While the overall market was weak, several recent deals continued to perform well.

Playtika Holding Corp.’s 4½% senior notes due 2029 (B2/B) were holding onto their premium in active trading on Monday.

Twilio Inc.’s two tranches of senior notes outperformed (Ba3/BB) remained active with the notes continuing to gain.

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