Primary prices $2.5 billion Bombardier gains; U.S. Concrete skyrockets on buyout

By Paul A. Harris and Abigail W. Adams

Portland, Me., June 7 – The domestic high-yield primary market saw an active start to the week with three drive-by issuers pricing a cumulative $2.5 billion.

Booz Allen, Marriott Vacations and SiriusXM cleared the primary market on Monday, which also saw a buildup in the forward calendar.

Meanwhile, it was another sideways day in the secondary space with volume outside of new and recent issues thin.

Bombardier Inc.’s recently priced 7 1/8% senior notes due 2026 (Caa2/CCC) continued to gain momentum in active trading with the notes rising to a 102-handle.

Outside of recent issues, U.S. Concrete Inc.’s 5 1/8% senior notes due 2029 skyrocketed in active trading on news it would be acquired by Vulcan Materials Co.

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