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KB Home prices; TransDigm jumps post-earnings; McDermott gains; Dun & Bradstreet improves
By Paul A. Harris and Abigail W. Adams
Portland, Me., Feb. 5 – The domestic high-yield primary market saw one drive-by deal price on Tuesday with two more on deck before the week draws to a close.
KB Home priced $400 million of senior bullet notes (B1/BB-) in two tranches.
Clear Channel Worldwide Holdings Inc. and CommScope Inc. are slated to price a cumulative $5.2 billion in new paper before the week draws to a close with guidance for Clear Channel’s offering tightening.
Meanwhile, Tuesday marked another strong day for the high-yield secondary space with the market up more than ¼ point.
While weaker on Monday, TransDigm Inc.’s recently priced senior notes jumped in high-volume activity on Tuesday following the aerospace component maker’s first-quarter earnings report.
Dun & Bradstreet Corp.’s recently priced senior notes also saw marked improvement on Tuesday with the unsecured tranche continuing to skyrocket and the secured tranche closing the day at issue price.
McDermott International Inc.’s 10 5/8% senior notes due 2024 (B2/B-) rose in high-volume activity on Tuesday following news of recently awarded contracts.
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