Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Panther Escrow Issuer, LLC > News item |
Fortress, Comstock add-ons price; junk under pressure; TIH lower; CSC notes below par
By Abigail W. Adams
Portland, Me., April 2 – The domestic high-yield primary market continued to roll out deals on Tuesday with two drive-by issues pricing.
Fortress Transportation and Infrastructure Investors LLC priced an upsized $700 million in seven-year senior notes (Ba3/B+/BB-) and Comstock Resources Inc. priced an upsized $400 million mirror add-on (B2/B/B+).
The activity is expected to continue on Wednesday with two of the three deals on the forward calendar slated to price.
Meanwhile, the secondary space had some selling pressure on Tuesday with the latest round of macro data sending a risk-off sentiment through the market.
“This morning, it was getting rocked pretty hard,” a source said.
Panther Escrow Issuer, LLC and Panther Co-Issuer, Inc.’s 7 1/8% senior secured notes due 2031 (B2/B/B+), which priced to back the buyout of TIH, LLC, had some selling pressure with the notes coming in from the heights reached since breaking for trade.
Altice USA, Inc. subsidiary CSC Holdings, LLC’s 11¾% senior guaranteed notes due 2029 (B2/B), which had held up comparatively well as Altice France SA’s debt stack collapsed, cracked on Tuesday with the notes dropping 2 points to trade below par for the first time since pricing.
© 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.