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Two deals price for $975 million; calendar grows; Vericast rockets; Centene gains
By Paul A. Harris and Abigail W. Adams
Portland, Me., Sept. 29 – Two drive-by issuers priced single tranche dollar-denominated high-yield deals on Tuesday, raising a combined total of $975 million.
Meanwhile, the secondary space continued to firm on Tuesday with the market better bid amid the slowdown in new issuance, a source said.
Centene Corp.’s recently priced 3% senior notes due 2030 (Ba1/BBB-/BB+) continued their upward momentum in active trading on Tuesday.
However, with activity surrounding new issues slowing down, several outstanding issues returned to the spotlight.
Vericast Corp.’s 8 3/8% senior notes due 2022 were among the major gainers of Tuesday’s session following news of an asset sale and a debt exchange.
Sinclair Broadcast Group Inc.’s two tranches of senior notes issued by Diamond Sports Group LLC and Diamond Sports Finance Co. were also on the rise in active trading.
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