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Junk bond pipeline eyed; W&T tucked away; Venture, Transocean flat in active trade
By Paul A. Harris and Abigail W. Adams
Portland, Me., Jan. 13 – The junk bond new issue market was quiet ahead of the holiday weekend.
Meanwhile, the secondary space capped a strong week with an uneventful day with the market sideways in light volume, a source said.
Few were making moves ahead of the long weekend with buyers reluctant to push the market higher and few sellers in the market.
While new paper continued to drive trading activity in the space, W&T Offshore Inc.’s 11¾% senior secured second-lien notes due 2026 (Caa1/B-) were nowhere to be found with the few bonds that did trade well above issue price.
Venture Global Calcasieu Pass, LLC’s 6¼% senior secured notes due 2030 (B2/BB+) were active although with little movement in price.
Transocean Titan Financing Ltd.’s 8 3/8% amortizing senior secured notes due 2028 (B2/B-) were also flat in heavy volume.
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