| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for MSCI, Inc. > News item |
Downsized Adient 10-year prices to cap busier $7.23 billion week, recent deals trade higher
By Paul Deckelman and Paul A. Harris
New York, Aug. 5 – The high-yield market saw a single deal priced on Friday, bringing to a conclusion a busy week that saw $7.24 billion of new junk-rated, dollar-denominated paper, up from last week’s total.
Adient Global Holdings Ltd., an automotive seating and interior components business being spun off from Johnson Controls Inc., came to market with $900 million of new 10-year notes, part of a two-part offering that also included a euro-denominated eight-year piece.
The dollar tranches had been downsized, while the euro portion of the deal was upsized by a similar amount.
Traders said that the new bonds firmed smartly in active trading.
That firmer tone was also evident in the prices of the various issues which came to market during Thursday’s very prolific $3.25 billion session.
There was considerable trading, all at higher levels, in those deals – for Albertsons Cos., LLC, Avon Products, Inc., CNH Industrial NV, Engility Corp. and SPX Flow Inc.
There was considerably less volume – though still at mostly stronger levels – in some of the deals that had priced earlier in the week, from companies such as Foundation Building Materials, LLC. MGIC Investment Corp. and MSCI Inc., among others.
Statistical market performance measures turned higher across the board on Thursday after having been mixed over the previous four consecutive sessions.
Those indicators were also higher all around from where they had closed out last Friday, when they had been lower on a week-over-week basis. It was the fifth stronger week in the last six.
© 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.