• Convertibles: Aqua America, Aphria price; Electronics for Imaging contracts; Ionis expands
• Emerging markets: America Movil, First Abu Dhabi, Melco, price; Etesa conducts roadshow
• High Yield: Primary prices $2.6 billion in five deals; Adient on tap; Mineral Resources gains
• High-grade bond issuers pack supply into short week; BofA, Citigroup, JPMorgan, Walmart price
• Preferreds: Energy Transfer prices $700 million; financial preferred stocks active; indexes mixed

• Abbott Labs repays $10 billion of debt since 2017; more to be repaid
• Ally Financial may access markets, keeps an eye on interest-rate risk
• Comerica to issue notes this year to replace $350 million maturity
• OrganiGram plans C$140 million term loan, revolver with Canadian bank
• Publicis Groupe gets bridge loan for $4.4 billion Epsilon acquisition
• United Rentals reports good balance sheet and debt maturity schedule

• Convertibles: PAR Technology prices $70 million, expands on debut; Ctrip.com notes active
• Emerging markets: Primary heats up; Saudi Aramco prices $12 billion; LatAm, Africa see deals
• High yield: Primary prices $3.98 billion in three deals; Mineral Resources on tap for Friday
• High-grade supply thins; Toyota, Avolon lead week’s deal volume; corporate inflows rise
• Preferreds: Primary market brings one small new deal as broader secondary trading seesaws

• California Resources to pursue all options to improve balance sheet
• Chaparral plans to pay down debt to at or below 2.5x using liquidity
• Chevron to take on debt for acquisition, pay it down via asset sales
• Delta Air continues refinancing high-cost debt, scheduled maturities
• Denbury to keep focusing on leverage reduction; ratio stands at 4.2x
• Oglethorpe lowered weighted average interest rate over 1% since 2007
• Principal Financial may sell $500 million of debt to fund acquisition
• Rite Aid pushed debt maturities out to 2023 with new credit facility
• SM Energy to pay down callable debt, lower leverage ratio to below 2x
• Unit Corp. is focused on reducing debt, cutting leverage down to 1x
• W&T consolidates debt to improve balance sheet, sees good liquidity

• Convertibles: Primary prices $655 million over two deals; China-based convertibles in focus
• EM debt secondary starts Q2 on solid footing; Mexico, Slovak Republic, Egypt price
• High yield: Primary prices $2.35 billion, $1 billion on tap for Friday; Staples markets megadeal
• High-grade market: New York Life, ING, AXA, Lowe’s, GM Financial, IHS, Vinci, AutoZone print; inflows up
• Preferreds: Primary space quiet as secondary market sees a positive push

• Acuity Brands to refinance $350 million notes due 2019 via term loan
• Navigator fully funds joint venture via two new bank loans, bond sale
• RPM International paid down revolver debt in Q3 using bond proceeds
• Signet Jewelers expects to grow cash position, lower leverage to 3.5x

• Convertibles: iQIYI’s $1.05 billion convertibles price, expand on debut; existing notes contract
• Emerging markets: EM debt weakens; Klabin, Romania, Sharjah price notes; Aramco offering on tap
• High yield: Primary prices $3.28 billion over six deals; secondary performance strong; PG&E jumps
• Investment-grade market: Mars, NatWest, UniCredit, CIBC, Swiss Re, AerCap, NextEra, Vodafone price
• Preferreds: Primary space sees $1.18 billion in new deals as secondary market remains active

• Aimia pays off $322 million of debt, now debt-free after asset sale
• Bellatrix plans recapitalization to strengthen finances, address debt
• Centric pays senior debt via C$12 million 9% convertible preferreds
• Darling Ingredients expects leverage to be 2.5x by the end of 2022
• Dominion Energy eyes $2 billion of debt to fund $26 billion of growth
• Iconix looks to restructure debt, but won’t need to pay it until 2043
• IHS Markit to continue de-levering to below 3x ratio in third quarter
• PVH intends to pay down a minimum of $150 million of debt in 2019

• Convertibles: Chegg, GOL Linhas price convertibles; Dermira jump; NII Holdings up on dissolution
• Emerging markets: Brazil, Russia, Ghana, Turkey price; sovereign spreads widen post Fed update
• High Yield: Primary prices $6.55 billion over six deals; another $810 million on tap for Friday
• High-grade market: GlaxoSmithKline leads supply with $3.5 billion deal; Target, BMO, Valero price
• Preferreds: Primary market ramps up with $845 million in new deals as secondary contracts

• Alimentation Couche-Tard de-levers to 2.38x using free cash flow
• Canacol Energy to cut debt levels in 2019, aims for 1.5x leverage
• Canadian Solar repays $127.5 million of convertibles, cuts debt 14%
• Dynagas LNG aims to secure refinancing of $250 million notes due 2019
• Hillman revolver debt stands at $108.2 million following acquisition
• United Rentals leverage ratio expected to fall to 2.5x by end of 2019

• Convertibles: Chegg, GOL Linhas price convertibles; Dermira jump; NII Holdings up on dissolution
• Emerging markets: Brazil, Russia, Ghana, Turkey price; sovereign spreads widen post Fed update
• High Yield: Primary prices $6.55 billion over six deals; another $810 million on tap for Friday
• High-grade market: GlaxoSmithKline leads supply with $3.5 billion deal; Target, BMO, Valero price
• Preferreds: Primary market ramps up with $845 million in new deals as secondary contracts

• Alimentation Couche-Tard de-levers to 2.38x using free cash flow
• Canacol Energy to cut debt levels in 2019, aims for 1.5x leverage
• Canadian Solar repays $127.5 million of convertibles, cuts debt 14%
• Dynagas LNG aims to secure refinancing of $250 million notes due 2019
• Hillman revolver debt stands at $108.2 million following acquisition
• United Rentals leverage ratio expected to fall to 2.5x by end of 2019

• Convertibles: Primary prices $1.55 billion in three deals; secondary trading performance mixed
• Emerging markets: Qatar sells $12 billion triple trancher; Koc, Quito Airport price
• High Yield: Primary sees $2.6 billion in four deals; Johnson Controls $4.7 billion offering on road
• Investment grade: Pfizer, Merck, Dell lead week’s heavy supply; inflows slow; credit spreads ease
• Preferreds: Primary space ramps up with $1.3 billion in new deals as secondary trading seesaws

• Berry Petroleum keeps debt to EBITDA ratio below 2x; debt won’t rise
• Covanta reports that its balance sheet is in ‘a really good position’
• Gibson Energy leverage falls below target with record adjusted EBITDA
• Park-Ohio keeps paying down bank debt with goal of de-levering to 3x
• Resideo to de-lever further with ‘solid’ cash flow, aims for 2x ratio
• Scotts Miracle-Gro could divest TruGreen in bid to de-lever to 3.5x
• Toll Brothers to amend revolver after revising $800 million term loan

• Convertibles: Fortive prices largest convertible of year, expands on debut; Intercept volatile
• Emerging markets: Egypt notes trade ‘very well’; MashreqBank, Cyprus, Bahrain Mumtalakat price
• High yield: Primary prices $3.9 billion in five deals; Bausch Health on tap; Windstream, Uniti eyed
• High-grade volume strong; Daimler, Amex, Westpac, Caterpillar, Boston Scientific lead supply
• Preferreds: Priority Income Fund, Stifel Financial bring $185 million to primary; secondary better

• Avis is in ‘strong’ financial position; no debt maturities until 2023
• Cinemark keeps big cash balance, gets interest rate swap on term loan
• Constellation expects 4x leverage within a year; 3.5x is target ratio
• Cott de-levers by $1 billion, would lever back up to 4x if necessary
• Parsley sees ratings upgrade, ‘healthy’ leverage, no near maturities
• Superior Energy mulls asset sale, free cash flow creation to pay note
• Targa has good maturity stack, ‘on path’ to investment-grade rating
• Teleflex improves its leverage to 3.2x, may de-lever further in 2019
• Visteon touts ‘strong’ balance sheet, capital structure versus peers

• Convertibles: Primary prices $440 million over three deals; 8x8 expands on debut; Bristow tanks
• Emerging markets: Turkey sells $2 billion sukuk; Turk Telekom joins calendar; Uzbekistan prices
• High yield market: Ascend Learning, Getty Images, Avolon price; McDermott tanks; Diebold soars
• Investment-grade bond supply surges; Altria, AT&T, Union Pacific lead deal volume; inflows decline
• Preferreds: F.N.B.’s new deal highlight of otherwise quiet primary; Quest, financials active

• ACCO Brands pays $62 million debt, borrows $38 million more in 2018
• Avaya plans to fortify its balance sheet, improve cost of capital
• Bombardier eyes debt markets with interest but no immediate urgency
• Brighthouse Financial now has no debt maturities scheduled until 2024
• Canopy Growth’s cash position grows via Constellation cash, note sale
• Colfax may divest; December bank financing closes in February
• Ingersoll-Rand plans to use cash, debt for $1.45 billion acquisition
• Martin Midstream is selling assets in bid to ‘substantially’ de-lever
• Mercer recent notes lift leverage to 2.2x, expected to fall in 2019
• NGL Energy compliance leverage now 2.96x; debt cut by $462.8 million
• OneMain gets leverage to 6.9x, targets 6x this year, touts liquidity

• Convertibles: Primary prices $485 million in two overnight deals; Micron calls 3% notes due 2043
• Emerging markets: Gazprom’s new notes slip below par; Paraguay, CAF price; Eldorado pulls deal
• High-grade bond issuance thins; BofA, Micron, Verizon, BP, Scotiabank lead supply; inflows heavy
• High-yield: Primary market sees high-volume week, prices $7.59 billion; secondary trading mixed
• Preferreds: Week’s new deals total $735 million in primary space as secondary market contracts

• Affiliated Managers keeps reducing leverage, focuses on flexibility
• AmeriGas refinances €1 billion of debt, including 3.25% note due 2025
• Brink’s extends term loan A by five years, expands to $800 million
• Forum prioritizes debt reduction via free cash flow after acquisition
• Gartner sells non-core assets using funds to cut debt by $1 billion
• Goodyear will focus on leverage, balance sheet once earnings improve
• Hi-Crush has ‘strong’ balance sheet, flexibility after transactions
• Match could tap debt markets to pay revolver debt; leverage declines
• Sally Beauty reports high leverage, commits to cut leverage over time
• Spectrum cuts debt by $2.2 billion in January; 3.5x leverage expected
• T-Mobile US delivers record $2.97 billion of adjusted EBITDA for Q4