Issuers price $2.65 billion; Atlas Air, Scan Global on deck; Catalent soars on buyout interest

By Paul A. Harris and Abigail W. Adams

Portland, Me., Feb. 6 – A trio of single-tranche issuers priced a combined $2.65 billion face amount of junk on Monday.

A comparatively modest $1.57 billion equivalent calendar remained in place at Monday's close.

Meanwhile, it was another red day in the secondary space as the market continued to give back gains from last week’s post-Fed surge.

The cash bond market was off another ½ point with several bids-wanted-in-competition lists circulating the market, a source said.

While it was a red day for the broader market, topical news sent Catalent, Inc.’s capital structure soaring.

The pharmaceutical company’s junk bonds jumped 2 to 5 points in heavy volume following news Danaher had expressed interest in acquiring the company.

Several recent issues remained active and were pulling back alongside the broader market.

Uniti Group LP, Uniti Fiber Holdings Inc., Uniti Group Finance 2019 Inc. and CSL Capital, LLC’s 10½% senior secured notes due 2028 (B2/B/BB+) continued to see heavy volume with the notes lower alongside the broader market.

Charter Communications, Inc. subsidiaries CCO Holdings, LLC and CCO Holdings Capital Corp.’s new 7 3/8% senior notes due 2031 (B1/BB-) gave back all gains and fell below par during Monday’s session.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.