Junk market: Vistra, Melco, Taseko Mines price; Herbalife gains continue; VistaJet jumps

By Paul A. Harris and Abigail W. Adams

Portland, Me., April 9 – In the dollar-denominated primary market three issuers priced single tranches of junk on Tuesday, Vistra Corp., Melco Resorts Finance Ltd. and Taseko Mines Ltd.

Meanwhile, it was a quiet and flat day in the secondary space with all eyes on the Consumer Price Index report set for release on Wednesday.

While many were on the sidelines on Tuesday ahead of the potentially market moving report, new and recent issues continued to drive volume in the space.

Herbalife International Inc. and HLF Financing Sarl LLC’s new 12¼% senior secured notes due 2029 (Ba2/B+) continued to move in heavy volume with buyers lifting the discounted notes to fresh heights.

AMC Networks Inc.’s recently priced 10¼% senior secured notes due 2029 (Ba3/BB) also improved with the notes hitting their highest level since breaking for trade.

While new and recent issues remained in focus, earnings new sparked the largest price movements in the space.

VistaJet’s senior notes were among the major gainers of Tuesday’s session with the company reporting strong numbers.

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