Junk: Navacord prices add-on; Clarios on deck; CSC Holdings weaker; loanDepot catapults

By Paul A. Harris and Abigail W. Adams

Portland, Me., April 19 – A broker partner of Navacord Inc. used the Wednesday junk bond primary session for an add-on offering.

Meanwhile, it was a soft day in the secondary space with the cash bond market off ¼ point as investors digested a U.K. inflation print of 10.1%, the release of the Federal Reserve’s beige book and a slew of earnings reports.

While the market was soft on Wednesday, it remained eerily quiet with liquidity thin, a source said.

Trading activity was concentrated in Altice USA, Inc. subsidiary CSC Holdings, LLC’s new 11¼% senior guaranteed notes due 2028 (B1/B), which were weaker on Wednesday after a strong break.

Topical news sparked activity in DaVita Inc.’s 4 5/8% senior notes due 2030 (Ba3/B+) which were slightly weaker following the buyout news of an industry peer.

LD Holdings Group LLC, the parent company of loanDepot, again had its senior notes catapult higher after the company announced amendments to its credit agreements.

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