Primary breaks record for new deal volume; Centene, VICI megadeals price, trade up in aftermarket

By Paul A. Harris and Abigail W. Adams

Portland, Me., Nov. 21 – Following the pricing of two megadeals on Thursday, the Nov. 18 week became the biggest week for dollar-denominated issuance year to date with $15.58 billion clearing the primary market.

Centene Corp. priced its $7 billion three-part senior notes offering (Ba1/BBB-/BB+) which played to massive demand, sources said.

VICI Properties Inc. also priced an upsized $2.25 billion amount of senior notes (B1/BB/BB) in two tranches.

Enviva Partners, LP and Enviva Partners Finance Corp. is slated to price a $450 million offering of six-year senior notes (B1/B+/BB-).

Aveanna Healthcare LLC’s $560 million offering, Telesat Canada’s $500 million offering, and Compass Minerals International $500 million offering may also price on Friday.

Meanwhile, Vici and Centene’s megadeals dominated the secondary space after breaking for trade with all tranches trading at a large premium to their issue price.

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