Adtalem prices upsized issue; Spanish Broadcasting trades up; Carnival sinks further

By Abigail W. Adams

Portland, Me., Feb. 12 – The domestic high-yield primary market had a subdued session on Friday with only one deal pricing.

Adtalem Global Education Inc. priced an upsized $800 million issue of seven-year senior secured notes (B1/BB-).

The notes were trading with a premium on the break.

Meanwhile, it was a relatively quiet day in the secondary space with the market unchanged and volume light heading into the holiday weekend, sources said.

While the issue was small, Spanish Broadcasting System Inc.’s 9¾% senior secured notes due 2026 (B3/B-) were trading with a solid premium in the aftermarket.

Meanwhile, Carnival Corp.’s 5¾% senior notes due 2027 (B2/B+) sank further below water in active trading.

Outside of recent issues, Bombardier, Inc.’s junk bonds were under pressure on Friday with the structure sinking 1½ to 3 points after the company announced it was ending production of its Learjet.

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