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Anglo American revives $1 billion two-parter, Ultra Petroleum, other deals hit road
By Paul Deckelman and Paul A. Harris
New York, April 3 – The new month of April and the calendar second quarter kicked off on Monday in Junkbondland with a big deal, as mining concern Anglo American plc priced a $1 billion two-part offering consisting of five- and 10-year notes. The company had shopped a prospective dual-currency deal around to potential investors last month, but then shelved the transaction to await more favorable interest rates.
Syndicate sources meantime heard a quartet of new offerings making the rounds on roadshows – energy operators Alliance Resource Partners, LP and Ultra Petroleum Corp. – the latter a $1.2 billion two-part transaction – as well as USI Insurance Services and Petra Diamonds Ltd.
Secondary market traders saw continued brisk upside activity in British luxury auto maker Aston Martin Lagonda Ltd.’s five-year secured notes, which priced on Friday.
Another Friday deal, from Canada’s Videotron Ltd., was also active.
Statistical market performance measures improved across the board on Monday, after having been seen mixed on Friday following three more consecutive sessions on the upside.
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