Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alpha Auto Group > News item |
Nexstar, Avis, Norbord price; Hexion, Michaels, Alpha Auto, Avon add-on on tap
By Paul A. Harris and Abigail W. Adams
Portland, Me., June 19 – The domestic high-yield primary market saw another active session on Wednesday with three deals pricing.
Nexstar Broadcasting, Inc. priced a $1.12 billion issue of eight-year senior notes (B3/B) at par to yield 5 5/8%.
Avis Budget Group, Inc. priced a $400 million issue of eight-year senior notes (B1/BB) at par to yield 5¾%.
Norbord Inc. priced a $350 million issue of eight-year senior secured notes (Ba1/BB+) at par to yield 5¾%.
The forward calendar also grew with Hexion Inc. starting a roadshow for a $450 million offering of eight-year senior notes (Ba3/B-) with pricing expected in the June 24 week.
Avon Products, Inc. plans to price a $350 million add-on to its 7 7/8% senior secured notes due 2022.
Michaels Stores, Inc.’s $500 million offering of eight-year senior notes (B1/B) and Alpha Auto Group’s $225 million offering of five-year notes are expected to clear the market prior to the week’s close.
The euro-denominated high-yield market also saw activity with Washington, D.C.-based Cogent Communications Holdings Inc. in the market with a €135 million offering of five-year senior notes (B3/B-).
Meanwhile, the secondary space was “off to the races,” following Federal Reserve Chairman Jerome Powell’s press conference. New paper was the focus of trading activity.
© 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.