Bausch trades up; Windstream mixed, Uniti gains on bankruptcy filing; Multi-Color jumps

By Paul A. Harris and Abigail W. Adams

Portland, Me., Feb. 25 – The domestic high-yield primary market was quiet on Monday with no new deals pricing and none joining the forward calendar.

However, the week ahead is expected to be active, sources said.

Meanwhile, the secondary space was strong on Monday with the market up 1/8 to ¼ point on optimism surrounding U.S.-China trade talks.

Bausch Health Cos., Inc.’s newly priced junk bonds were putting in a strong performance in the secondary space with the notes well above their issue price.

Windstream Corp. and Uniti Group Inc. remained in focus in the secondary space.

Windstream’s junk bonds were mixed after the telecommunications company filed for Chapter 11 bankruptcy protection.

However, Uniti Group’s junk bonds were making gains on the news.

Multi-Color Corp.’s 4 7/8% senior notes due 2025 jumped in high-volume activity on news the company would be acquired by a private equity firm.

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