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Six new deals in high-yield primary; Home Point soars; CrowdStrike gains continue
By Paul A. Harris and Abigail W. Adams
Portland, Me., Jan. 14 – The week’s activity the primary market was awaiting came on Thursday as six issuers priced single-tranche deals.
Meanwhile, the secondary space was unchanged on Thursday as the market awaits President-elect Joseph Biden’s speech regarding additional stimulus.
New paper continued to dominate the tape with several recent deals performing well.
Home Point Capital Inc.’s 5% senior notes due 2026 (B2/B) were putting in a strong performance in the aftermarket with the notes trading well above their issue price.
CrowdStrike Holdings, Inc.’s 3% senior notes due 2029 (Ba3/BB) continued to gain momentum in high-volume activity.
Urban One, Inc.’s recently priced 7 3/8% senior notes due 2028 (B3/B-) were active with the notes lifted to a 104-handle.
Outside of recent issues, trading activity was light, a source said. “Nobody’s looking to buy and nobody wants to sell,” the source said.
Meanwhile, outflows continued the second week of the new year with high-yield mutual and exchange traded funds seeing $1.26 billion leave the space.
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