Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hertz Corp. > News item |
Taseko Mines, Toll add-on price; recent issues busy; energy names slide on crude plunge
By Paul Deckelman and Paul A. Harrison
New York, June 7 – For a second successive session, the high-yield primary market saw but a single U.S. dollar-denominated and fully junk-rated deal get done on Wednesday, as Canada-based Taseko Mines Ltd. priced $250 million of five-year secured notes in a regularly scheduled forward calendar offering.
There was one other dollar deal heard to have gotten done – a split-rated $150 million add-on to homebuilder Toll Brothers’ existing 2027 notes, seen by syndicate sources to have been mostly of interest to high-grade accounts looking for some crossover yield.
Tuesday had also seen just one new deal price, in contrast to Monday’s super-busy session, when more than $5 billion of new junk paper had come clattering down the chute, the second-most of any session so far this year; the key deal that priced that day, Tenet Healthcare Corp.’s nearly $4 billion four-part offering, remained among the most actively traded issues Wednesday. It was seen lower all around, along with recent megadeal-sized transactions from Hertz Corp. and PetSmart, Inc.
Away from the new issues, oil and natural gas names such as California Resources Corp., Chesapeake Energy Corp., Continental Resources Inc. and EP Energy Corp. all got hammered lower in active dealings, as world crude oil prices plunged by more than $2 per barrel after the U.S. government reported an unexpected increase in crude inventories.
© 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.