Low-grade primary quiet; MultiPlan down again; MSCI gains; AMC loses

By Abigail W. Adams

Portland, Me., July 7 – The domestic high-yield primary market was again quiet on Wednesday with no new deals pricing during the session.

However, Seaspan Corp. remains on the forward calendar with its $500 million offering of eight-year senior blue transition notes (BB-/BB).

Meanwhile, it was another sideways day in the secondary space with the release of the Federal Reserve Open Committee meeting’s minute notes doing little to move the market.

Trading volume remained light amid the dry-up in primary market activity. However, topical news pushed some outstanding issues into focus.

MultiPlan Corp.’s 5¾% senior notes due 2028 (B3/B-) were in focus on Wednesday with the notes continuing to sell off amid concern the company was losing a major source of its revenue.

MSCI Inc.’s 3 5/8% senior notes due 2031 (Ba1/BB+/BBB-) continued their upward momentum in active trading on Wednesday.

However, AMC Entertainment Holdings, Inc.’s 12% senior notes due 2026 dropped below par after the company announced that it would not seek shareholder approval to issue more stock.

© 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.