Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Parkland Fuel Corp. > News item |
Primary resumes lull to close relaxed week, though Toys does placement; softer tone after Fed
By Paul Deckelman and Paul A. Harris
New York, Aug. 26 – The high-yield primary sphere closed one of its lightest weeks so far this year with no new junk bond deals having priced on Friday.
There was a little news circulating around however, with Toys “R” Us, Inc. announcing that it had issued $141.540 million of new 2021 secured notes in a private placement transaction, a follow-up to the retailer’s original issue of a tranche of those notes last month as part of a debt exchange.
In non-U.S. dollar activity, Parkland Fuel Corp. brought a Canadian dollar-denominated eight-year deal.
The lack of any new deals on Friday, continuing a week-long pattern, left the week’s new-issuance total at $670 million principal amount, $384 million proceeds, in two tranches, well down from last week’s level.
Traders saw a lack of much trading activity in recently priced new issues, with only last week’s new deal from Novelis Corp. generating any kind of decent volume.
Traders said the overall market was extremely quiet, with limited flows and a generally somewhat softer tone, especially after Federal Reserve officials indicated that another interest rate hike could soon be in the cards.
Statistical market performance measures were mixed for a third consecutive session on Friday after improving across the board on Tuesday and then turning mixed on Wednesday and staying that way for the rest of the week.
© 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.