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Published on 8/4/2021 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News Emerging Markets Daily, Prospect News Investment Grade Daily and Prospect News Private Placement Daily.

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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