Bally’s, IEA price low-grade bonds; Ford in focus; Crocs at a premium; Cinemark gains

By Paul A. Harris and Abigail W. Adams

Portland, Me., Aug. 6 – Infrastructure and Energy Alternatives Inc. (IEA) and Bally’s Corp. wrapped up their high-yield bond deals on Friday.

Meanwhile, the secondary space was unchanged on Friday following a soft week that saw spreads widen with CCC credits underperforming as investors continued to shed risk.

New and recent issues continued to dominate the tape. However, earnings-related news sparked activity in some outstanding issues.

The Ford Motor Credit Co. LLC newly priced 2.7% senior notes due 2026 (Ba2/BB+/BB+) were active with the notes continuing to trade at a premium to their issue price.

While Crocs, Inc. 4 1/8% senior notes due 2031 (B1/BB-) also continued to trade at a premium, they were losing steam heading into the market close.

Outside of recent issues, Cinemark USA, Inc.’s senior notes were making gains after the company reported earnings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.