Gray, Roblox price new junk paper; Netflix active on IG upgrade; Oasis jumps on buyout

By Paul A. Harris and Abigail W. Adams

Portland, Me., Oct. 26 – In the high-yield primary market on Tuesday, Gray Television, Inc. and Roblox Corp. sold $2.3 billion of new junk paper between them.

Meanwhile, the secondary space was firm on Tuesday as the 10-year Treasury yield continued to tick lower and earnings reports continued to best expectations.

While new issues have been a focal point for trading activity, ratings upgrades and merger and acquisition news sparked activity in outstanding issues on Tuesday.

Netflix Inc.’s unsecured senior notes were active with the notes shifting hands after S&P Global Ratings boosted the notes to investment grade.

Oasis Midstream Partners LP’s 8% senior notes due 2029 (B2/B) surged in active trading following news Crestwood Equity Partners LP would buy out the company.

While volume in the name was light, Oasis Petroleum Inc.’s 6 3/8% senior notes due 2026 were also lifted as a result of the deal.

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