| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for California Resources Corp. > News item |
Virgin Media, Pinnacle deals price, Virgin gains; Chesapeake jumps again, other oils up
By Paul Deckelman and Paul A. Harris
New York, April 12 – The high yield deal machine continued to crank out new issues on Tuesday, with some $1.125 billion of new junk paper getting priced.
Virgin Media Inc., which provides broadband and phone service in the United Kingdom, drove by with an upsized $750 million of 10.5-year secured notes via a financing subsidiary.
Those new bonds firmed smartly, on heavy volume, in the aftermarket.
Gaming operator Pinnacle Entertainment, Inc. brought an upsized $375 million of eight-year paper to market, also via a financing subsidiary.
Those new bonds were the day’s most active issue in the secondary realm, although they were seen unchanged from their pricing level.
Traders also saw brisk activity in Monday’s 10-year issue from corrections and treatment facility REIT the GEO Group, Inc., which added to the initial aftermarket gains notched after that pricing.
They saw both halves of Monday’s other offering – from casino and racetrack REIT Gaming & Leisure Properties, Inc., – trading well above issue price, but on limited volume.
Away from the new deals, a continued surge in crude oil prices was boosting energy names such as Continental Resources, Inc., Whiting Petroleum Corp., Oasis Petroleum Inc. and California Resources Corp.
Another oil and natural gas issuer – Chesapeake Energy Corp. – was also strongly on the upside, helped by the overall energy strengthening and its having negotiated favorable terms with its credit facility lenders.
Statistical market performance measures were higher across the board for a third straight session on Tuesday.
© 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.