Jefferies prices, new Jefferies, Waterworks, AMC active; funds jump $2.22 billion

By Paul Deckelman and Paul A. Harris

New York, July 20 – The junk primary sphere saw just one deal priced during Thursday’s session – a $400 million seven-year offering from investment bank Jefferies Finance LLC.

That was in contrast to Wednesday’s session, during which $1.3 billion of new junk-rated and dollar-denominated paper had gotten done.

Traders meantime saw very active dealings in Wednesday’s new offerings from cable television network operator and content provider AMC Networks, Inc. and industrial product distributor HD Supply Waterworks Ltd, along with the new Jefferies bonds.

The traders also saw fairly brisk activity in recently priced offerings from the likes of Extraction Oil & Gas, Inc., Sirius XM Radio, Inc. and Hertz Corp. – with the latter seen definitely on the downside.

Rite Aid Corp. notes notched a third straight upside session, following the release of updated financial information related to the pending sale of nearly half of its drugstores to larger rival Walgreens Boots Alliance, Inc.

Statistical market performance measures were firmer across the board for a second straight session on Thursday.

Another numerical indicator – flows of investor cash into or out of high-yield mutual funds and exchange-traded funds – rebounded solidly this week after four weeks on the downside, according to numbers released Thursday. Some $2.22 billion more came into those weekly reporting-only domestic funds than left them during the week ended Wednesday.

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