Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Caesars Entertainment Corp. > News item |
Primary quieter, with Nexstar sole dollar pricing; Endo heavily traded; Caesars shoots upward
By Paul Deckelman and Paul A. Harris
New York, Jan. 21 – The high-yield primary market was quieter on Wednesday, with just one new dollar-denominated, fully junk-rated deal getting done: Nexstar Broadcasting Group, Inc., which did an upsized, quick-to-market $275 million of seven-year notes via a subsidiary. Those bonds were heard by traders to have firmed when they hit the aftermarket.
Wednesday’s lone dollar deal stood in contrast to Tuesday, when some $2.3 billion of new junk bonds had come to market in three drive-by tranches – the heaviest single-day issuance so far this year.
Traders saw active secondary dealings in all three of those offerings, with Tuesday’s biggest transaction – the upsized 10-year megadeal from Endo International plc – racking up the heaviest trading volume, by far. The pharmaceuticals and medical device manufacturer’s issue gained a point in the aftermarket.
Telecommunications company Zayo Group, LLC’s new bonds were also active as were Tuesday’s third deal – the add-on issue from hospital operator HealthSouth Corp.
But while the HealthSouth bonds remained above their issue price, Zayo’s new notes continued to trade below where they had come to market.
Restructuring gaming giant Caesars Entertainment Corp.’s bonds were better in brisk trading as investors placed their bets on what kind of recovery their bonds might get.
Statistical indicators of junk market performance turned better after having been mixed for four straight sessions before that.
© 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.