CA Magnum/Hexaware prices; Roblox struggles in junkland; Gray Television on a 101-handle

By Paul A. Harris and Abigail W. Adams

Portland, Me., Oct. 27 – New junk paper in the primary market totaled $1.51 billion on Wednesday, with two-thirds of it coming from a $1.01 billion issue from CA Magnum Holdings.

Meanwhile, it was a lackluster day in the secondary space on Wednesday with earnings reports coming in largely as expected and the Treasury curve flattening with the 10-year Treasury yield continuing to decline.

“Every time it seems like it’s selling off it rallies,” a source said.

While there have been some large inflows into the space and the calendar has been light the past few sessions, the high-yield market has been trending lower with rate-sensitive names continuing to underperform.

In recent deals, Roblox Corp.’s 3 7/8% senior notes due 2030 (Ba2/BB) were struggling in the secondary space with the notes trading below par.

However, Gray Television, Inc.’s 5 3/8% senior notes due 2031 (B3/B/BB-) were putting in a strong performance with the attractively priced notes rising to a 101-handle.

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