Pacific Drilling prices; Popular hovers at par; Nieman, Nielson gain; Alliance One drops

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 12 – The domestic and European high-yield primary market remained active on Wednesday with one dollar-denominated issue pricing and two euro- and one sterling-denominated deals on the forward calendar.

Pacific Drilling SA priced an upsized $1 billion two tranche offering of senior notes, which were said to be massively oversubscribed during bookbuilding.

Gamenet Group SpA set price talk for its €225 million offering of five-year senior secured floating-rate notes.

eDreams Odigeo’s a roadshow for a €425 million offering and Arqiva Broadcast Finance plc’s roadshow for a £625 million sale are both scheduled to wrap up on Thursday.

Meanwhile, Popular, Inc.’s newly priced 6 1/8% senior notes due 2023 (B2/BB-/BB-) had a lackluster performance in the secondary space with the notes hovering around par in light trading volume.

Neiman Marcus Group, Inc.’s 8% senior notes due 2021 made large gains in high-volume trading on Wednesday after competitor Saks Fifth Avenue reported a rise in sales.

Nielsen Holdings plc’s 5% senior notes due 2025 were again active and making gains on news the company is considering selling itself.

Alliance One International Inc.’s 9 7/8% senior notes due 2021 were moving down in active trading as the company, which is now known as Pyxus International Inc., hosted an investor and analyst day on Wednesday.

© 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.