Edgewell, Cushman & Wakefield, Park Hotels, Talen price; SBA, Clearway Energy add-on

By Paul A. Harris and Abigail W. Adams

Portland, Me., May 19 – New deals totaling $3.1 billion entered the primary high-yield market on Tuesday.

An active and busy market saw deals come from issuers Edgewell Personal Care Co., Cushman & Wakefield, Park Hotels & Resorts Inc. and Talen Energy Supply LLC.

Add-on deals entered the space from SBA Communications Corp. and Clearway Energy Operating LLC.

All of the Tuesday deals were upsized.

Meanwhile, the secondary space was largely unchanged on Tuesday with trading activity continuing to focus on new issues and fallen angels.

Inspire Brands’ newly priced 7% senior notes due 2025 (B3/B) outperformed in the secondary space.

MSCI Inc.’s 3 7/8% senior notes due 2031 (Ba2/BB+) were also trading with a premium.

Live Nation Entertainment, Inc.’s recently priced 6½% senior notes due 2027 (Ba2/BB-) remained active with the notes continuing to gain.

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