Cogent add-on prices as calendar builds; market mixed as crude gyrates; funds gain $598 million

By Paul Deckelman and Paul A. Harris

New York, Nov. 28 – The high-yield primary realm saw one smallish deal price on Monday as Cogent Communications Group, Inc. did a quickly shopped $125 million add-on to its existing 2022 senior secured notes.

Syndicate sources meantime said that the Junkbondland forward calendar grew notably with several new-deal announcements, among them the news that Canadian mining company Hudbay Minerals Inc. will be hitting the road to market a $1 billion offering of six- and eight-year paper.

Other names slating prospective deals included Grinding Media Inc. and MC Grinding Media (Canada) Inc., Advance Pierre Foods Holdings, Inc. and Catalent, Inc.

The recently priced new deal from oil and natural gas operator EP Energy LLC and that company’s existing bonds were among the busier credits on the day.

Oil and gas names such as WPX Energy Inc., Rice Energy Inc., MEG Energy Corp. and Whiting Petroleum Corp. were seen mixed amid the gyrations of the world crude markets ahead of this week’s OPEC meeting – oil prices, which fell sharply on Friday, staged a strong rebound on Monday.

Statistical market performance measures were mixed on Monday after having been higher across the board on Friday.

High-yield mutual funds and exchange-traded funds moved back into the black during the latest week as $598 million more came into those weekly reporting only domestic funds than left them via investor redemptions.

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