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European junk primary active; Charter, Citrix weaker; Altice France under pressure
By Paul A. Harris and Abigail W. Adams
Portland, Me., July 5 – The action was in Europe on Wednesday for junk bond investors as Americans returned from a Tuesday holiday.
Meanwhile, it was a soft day in the secondary space with the release of the Federal Open Market Committee minute notes increasing the likelihood of a July rate increase.
While soft, the space was largely quiet with the market gingerly returning from what was for some an extended holiday weekend.
The cash bond market closed the day down about ¼ point, a source said.
Several names were lower alongside the broader market.
Charter Communications, Inc. subsidiary CCO Holdings, LLC’s senior notes (B1/BB-) were weaker after a strong end to June.
Cloud Software Group Holdings Inc.’s (Citrix) 9% second-lien notes due 2029 (Caa2/B-) were also down alongside the broader market.
Altice France SA’s senior notes (B2/B-) were under pressure with the notes off 1½ to 3 points in light volume.
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