Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fortrea Holdings Inc. > News item |
PBF Energy drives-by; RingCentral struggles; Fortrea falls; Roblox lower
By Paul A. Harris and Abigail W. Adams
Portland, Me., Aug. 14 – PBF Energy Inc. priced Monday’s sole deal, a $500 million issue of 7 7/8% seven-year senior notes, which sold at 99.324 to yield 8% in a drive-by.
Tenneco Inc. spent the past week roadshowing a $1.75 billion offering of 8% senior secured notes due November 2028, a revival of efforts by dealers to replace bridge financing backing the buyout of the company by Apollo, which became hung up on dealer balance sheets, due to market conditions, late last year.
Meanwhile, it was a flat day in the secondary space with volume light as market players await the next catalyst for movement.
RingCentral Inc.’s new 8½% senior notes due 2030 (B1/BB/BB) were struggling in the aftermarket, breaking below a 99-handle after a weak break.
Fortrea Holdings Inc.’s 7½% senior secured notes due 2030 (Ba3/BB/BB+) gave back all gains made since pricing in June and sank below par following earnings.
Roblox Corp.’s 3 7/8% senior notes due 2030 (Ba2/BB) continued to move lower after disappointing earnings the previous 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.