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Chart Industries on deck; Citrix softer; Carnival comes in; Spectrum Brands gains
By Paul A. Harris and Abigail W. Adams
Portland, Me., Dec. 5 – The high-yield new-issue market generated its highest news volume in months on Monday.
In the dollar-denominated market Chart Industries, Inc. began a roadshow for a $2.06 billion two-part deal.
Jones DesLauriers Insurance Management Inc. plans to kick off a $300 million offering of senior notes due 2030.
Most of Monday's high-yield primary market news came out of Europe.
French telecom Iliad SA priced an upsized €750 million issue (from €500 million) of 4.5-year senior notes at par to yield 5 3/8%.
888 Holdings plc took part in a conference call with fixed income investors a ahead of the planned sale of €200 million of 888 Acquisitions Ltd. senior secured notes.
The secondary space launched the week on soft footing.
Carnival Corp.’s 10 3/8% senior priority notes due 2028 were among the most actively traded issues in the secondary space with the notes pulling back after hitting a new, all-time high the previous week.
Citrix Systems Inc./Tibco Software Inc.’s 6½% senior secured notes due 2029 also continued to weaken after setting an all-time high in last week’s rally.
Spectrum Brands Holdings, Inc.’s 3 7/8% senior notes due 2031 were a bright, continuing their strong uptrend as a long-planned asset sale comes closer to completion.
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