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DISH prices; Spirit AeroSystems on deck; IAA jumps on buyout
By Paul A. Harris and Abigail W. Adams
Portland, Me., Nov. 7 – Two high-yield bond deals priced on Monday, one in London and one in New York.
DISH Network Corp. priced a $2 billion issue of 11¾% five-year senior secured notes (Ba3/B+) at 98.171 to yield 12¼%.
In the euro-denominated market France-based automotive supplier Faurecia SLB priced an upsized €700 million issue (from €400 million, then €550 million) of senior sustainability-linked notes due June 15, 2026 (Ba2/BB/BB+) at par to yield 7¼% in a drive-by.
One dollar-denominated issuer began a roadshow
Spirit AeroSystems began marketing an $800 million offering of senior secured notes due November 2029 on Monday.
Elsewhere on the active forward calendar Neptune BidCo US Inc./Nielsen Holdings plc is in the market with a $1.96 billion offering of senior secured notes due April 15, 2029.
IAA Spinco Inc. (Insurance Auto Auctions, Inc.)’s 5½% senior notes due 2027 (B2/B) were in focus on Monday with the notes making large gains following news the company would be acquired in a $7.3 billion deal.
Gray Television, Inc.’s 5 3/8% senior notes due 2031 (B3/B) plummeted to a historic low following last Friday’s earnings miss.
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