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Charter, Science Applications price; Del Monte joins calendar; health care names rally
By Abigail W. Adams
Portland, Me., March 4 – The domestic high-yield primary market returned to action on Wednesday with two deals pricing and one more joining the forward calendar.
Charter Communications Inc. priced a $2.5 billion two-tranche offering (B1/BB/BB+), which included new 12-year senior unsecured notes and a tap of CCO Holdings LLC and CCO Holdings Capital Corp.’s 4½% senior notes due 2030.
Science Applications International Corp. priced $400 million eight-year senior notes (B1/BB-).
And Del Monte Foods, Inc. started a roadshow on Wednesday for a $575 million offering of seven-year senior secured notes.
Meanwhile, the secondary space rebounded on Wednesday on the heels of the Super Tuesday election results with the market, in general, up about ½ point, sources said.
With Joe Biden now a frontrunner in the Democratic primary, health care names were rallying on the prospect of a defeat of Bernie Sanders’ “Medicare for All,” policy initiative.
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