Knife River, Macquarie AirFinance kick off primary; Citrix improves; Ford weaker

By Paul A. Harris and Abigail W. Adams

Portland, Me., April 10 – Macquarie AirFinance Holdings Ltd. and Knife River Holding Co. kicked off what could be a comparatively active post-holiday week in the high-yield primary market with a combined $900 million amount of potential issuance, sources said.

Meanwhile, it was a slow start to the week in the secondary space with trading thin as activity surrounding recent issues tempered and with European markets closed for the holiday.

The market was soft at the open but rallied into the close to end the day largely unchanged, a source said.

Citrix Systems, Inc. continued to dominate the tape with Cloud Software Group Holdings Inc.’s 9% senior second-lien notes due 2029 (Caa2/B-) and Citrix’s 6½% senior secured notes due March 31, 2029 (B2/B) continuing to improve.

Ford Motor Credit Co. LLC’s new 6.8% senior notes due 2028 (Ba2/BB+/BB+) were slightly weaker in active trade. Home Point Capital Inc.’s 5% senior notes due 2026 (Caa1//B-) were the major gainers of Monday’s session following an asset sale

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