Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Center Parcs Group > News item |
Center Parcs prices; Intelsat mixed after exchange fails; new Hertz up; funds add $521 million
By Colin Hanner and Paul A. Harris
Chicago, June 1 – The high-yield primary market saw no deals price in the United States but Europe saw a large sterling-denominated deal from Center Parcs Corp., a two-part transaction that totaled £730 million.
Activity in the secondary market was livelier on Thursday compared to the first two sessions of the holiday-shortened week, a market source said, with Intelsat SA among the busiest following the termination of its debt exchange offer after a minimal response from bondholders.
Because of the ending of the exchange offer, the satellite telecommunications company expects OneWeb and SoftBank will end their proposed merger with Intelsat.
Bonds of Intelsat’s subsidiaries moved in both directions on the day.
Hertz Corp.’s new $1.25 billion offering of five-year notes fared well in the secondary market following its pricing on Wednesday while the company’s existing issues were mixed after across-the-board gains a day prior.
Recent deals from PBF Energy, Inc. and PetSmart Inc. were among the most-actively traded issues on the day, though their moves were fractional.
Oil and gas exploration and production companies were lifted by a shimmer of good news coming out of the Energy Information Administration on Thursday, with crude prices rising on lower crude output in the United States.
Meanwhile high-yield mutual funds and exchange-traded funds saw $521 million of inflows during the week to Wednesday, almost reversing the $568 million outflow 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.