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Two deals upsize in three-issuer junk day; MSCI, Ashland on a 101-handle; Altice at a premium
By Paul A. Harris and Abigail W. Adams
Portland, Me., Aug. 4 – The domestic high-yield primary market had three deals totaling $1.65 billion clear the market on Wednesday with Thursday also promising to be an active session.
Two deals came as drive-bys and two upsized.
In the secondary space, MSCI Inc.’s 3¼% senior notes due 2033 (Ba1/BB+/BBB-) and Ashland LLC’s 3 3/8% senior notes due 2031 (Ba1/BB+) were changing hands on a 101-handle.
Altice Financing SA’s 5¾% senior secured notes due 2029 (B2/B) were trading with a slight premium to their issue price.
While the notes continued to trade at a premium to their issue price, Century Communities, Inc.’s 3 7/8% senior notes due 2029 (Ba3/BB-) were weaker on Wednesday after a strong break.
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