Junk bond market closes high-volume week quietly; Six Flags flat; Perenti holds premium

By Paul A. Harris and Abigail W. Adams

Portland, Me., April 19 – The dollar-denominated primary market idled on Friday, having turned out $8 billion of issuance during the past week, well over 2024’s average weekly issuance of $6.9 billion.

Visibility on business for the week ahead was scant on Friday.

Passover begins Monday, April 22, and will last through April 30.

Sources canvassed on Friday were uncertain about how the holiday might impact new issue business in the week ahead.

Meanwhile, the secondary space had another sideways session on Friday; however, the tone firmed after selling pressure over the past week had dragged returns back into negative territory.

Six Flags Entertainment Corp. and Six Flags Theme Parks Inc.’s 6 5/8% senior secured notes due 2032 (Ba2/BB) recovered from some weakness on the break with the notes wrapped around par in heavy volume on Friday.

While Perenti Finance Pty Ltd.’s 7½% senior notes due 2029 (BB/BB+) came in from the heights reached after breaking for trade, they held on to a large premium on Friday.

© 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.