Taseko Mines, Melco Resorts, on deck; Endo returns; Herbalife holds premium

By Abigail W. Adams and Paul A. Harris

Portland, Me., April 8 – The April 8 week got underway in the high-yield primary market with a burst of new deal announcements, including four euro-denominated deals and three dollar-denominated deals.

However, no issues were priced.

Two of the three dollar-denominated offerings are only expected to remain in the market overnight with Melco Resorts Finance Ltd.’s benchmark offering of dollar-denominated eight-year senior notes (Ba3/BB-) and Taseko Mines Ltd.’s $500 million offering of six-year senior secured notes (B3/B-) slated to price Tuesday.

Endo Finance Holdings, Inc. commenced marketing a $1.25 billion offering of seven-year senior secured notes, which was already heard to be well oversubscribed.

Meanwhile, the secondary space firmed on Monday after some selling pressure the previous week.

Herbalife International Inc. and HLF Financing Sarl LLC’s 12¼% senior secured notes due 2029 (Ba2/B+) maintained a strong premium to their discounted issue price in heavy volume Monday with the chunky yield superseding concerns about the credit.

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