Heartland Dental to price junk add-on; Nexstar downtrend continues; First Quantum lower

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 5 – The new issue market reactivated Tuesday on the heels of the extended Labor Day holiday weekend in the United States.

Heartland Dental announced a $100 million add-on to the Heartland Dental, LLC/Heartland Dental Finance Corp. 10˝% senior secured notes due April 30, 2028 (expected ratings B2/B-) with pricing expected Wednesday.

Meanwhile, the secondary space opened the week on soft footing after logging solid gains the previous week that brought credit spreads to their tightest levels of the year.

However, trading volumes remained light with topical news the driver of activity in the space as market players waited for the primary market to provide new paper.

Nexstar Media Group Inc.’s senior notes were still being traded on Tuesday with the carriage dispute between Disney and Charter continuing to drag on the telecom sector.

First Quantum Minerals Ltd.’s 8 5/8% senior notes due 2030 (//B+) were also under pressure on Tuesday as conflict continues surrounding the company’s mining rights in Panama.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.