Forward calendar grows; Royal Caribbean gains; Peninsula Pacific rises; Gray Television comes in

By Paul A. Harris and Abigail W. Adams

Portland, Me., Oct. 13 – At the conclusion of the extended holiday weekend, dealers wasted no time in building a robust $3.2 billion forward calendar.

Rolls-Royce plc upsized its three-part multicurrency megadeal, which will include a $1 billion tranche of seven-year notes, with pricing expected Wednesday.

Freedom Mortgage Corp. is also on deck with a $500 million offering of 5.5-year senior notes (existing ratings B2/B-).

Meanwhile, the secondary space was largely unchanged on Tuesday as third-quarter earnings season begins.

While volume was relatively light, NorthRiver Midstream Finance LP’s 5 5/8% senior secured notes due 2026 (Ba3/BB) were trading with a slight premium to their discounted issue price.

Peninsula Pacific Entertainment LLC’s 8½% senior notes due 2027 (Caa1/CCC+) continued their upward momentum in active trading.

Gray Television, Inc.’s 4¾% senior notes due October 2030 (B3/B+/BB-) were trading off their highs in high-volume activity.

Outside of recent deals, Royal Caribbean Cruises Ltd.’s 5¼% senior notes due 2022 were making gains as the company worked to secure financing to take out its 2020 notes.

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