At Home, Magpul on deck; Goodyear active in junk trading; Paysafe improves; OneMain weakens

By Paul A. Harris and Abigail W. Adams

Portland, Me., June 18 – The domestic high-yield primary market remained dormant on Friday.

Two deals are currently on the forward calendar – an $800 million dual-tranche LBO deal from Ambience Merger Sub, Inc. backing the buyout of At Home Group, Inc. and a $300 million offering from Magpul Industries Corp.

Trading activity in the secondary space remained light on Friday, especially with the primary market turning off the spigot over the past two sessions.

While activity in the name slowed down, OneMain Finance Corp.’s 3½% senior notes due 2027 (expected ratings Ba3/BB-//Kroll: BB+) were weaker on Friday.

Paysafe Holdings US Corp.’s recently priced 4% senior secured notes due 2029 (B1/B+) improved in active trading; however, they remained well below par.

With activity in recent issues cooling, there was a pickup in activity in some outstanding issues.

Goodyear Tire & Rubber Co.’s 5% senior notes due 2029 (B2/BB-/BB-) were active although with little movement in price.

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