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United Rentals, KB Home price; newer notes trade; Teva lifted; Coty falls; WeWork higher
By James McCandless and Paul A. Harris
San Antonio, Oct. 21 – Monday’s primary market session saw two deals price while the secondary market saw a bevy of activity furl around the pharma and retail sectors.
In drive-by action United Rentals (North America), Inc. priced a $750 million split-rated issue of eight-year senior secured second-lien notes.
KB Home priced a $300 million issue of 10-year senior bullet notes.
In the secondary, new notes from Charter Communications, Inc. and VodafoneZiggo continued to make names for themselves, diverging.
In pharma, Teva Pharmaceutical Industries Ltd.’s issues were lifted after the company came to a settlement with two Ohio counties.
Cosmetics name Coty Inc.’s paper fell after the company said it was committed to making asset sales to reduce debt.
Elsewhere, WeWork Cos. Inc.’s notes moved higher amid reports that it could be receiving rescue financing from its largest backer.
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