Morning Commentary: Restaurant Brands, InfraBuild Australia, Pinnacle market deals

By Cristal Cody

Tupelo, Miss., Sept. 6 – The junk bond market opened with several deals in the works with Friday’s session expected to be busier than normal for the end of the week.

Restaurant Brands International, Inc. plans to price $500 million of first-lien senior secured notes due January 2028. Initial price talk is in the 4% area.

InfraBuild Australia Pty. Ltd. is marketing $475 million of five-year senior notes.

Pinnacle Financial Partners, Inc. is on deck with a dollar-denominated offering of 10-year fixed-to-floating-rate subordinated notes.

For the week, nearly $4 billion of supply has already priced in the junk market, sources report.

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