Upsized AmeriGas, Concho, American Midstream price; recent RSP Permian, Carlson trade up

By Colin Hanner

Chicago, Dec. 13 – Several issues that priced in the past few days traded in the high yield secondary realm on Tuesday, and one-off high yield names reacted to news of the day.

Energy operator RSP Permian, Inc.’s $450 million of eight-year notes priced on Monday were “very active” during Tuesday’s session, though a bit off their previous day’s levels, and Carlson Travel Inc. continued to see its second-straight session of gains after Friday’s new deal.

With the announcement that it will not repay $57.1 million of its senior notes held by Clear Channel Holdings, iHeartMedia, Inc. saw intraday fluctuation, traders said, then rose later in the afternoon.

Several sector names, including Community Health Systems Inc., Concordia International Corp. and Valeant Pharmaceuticals International Inc., all saw downward movement.

Three single-tranche deals from the red hot energy sector priced during the Tuesday session, with a combined take of $1.6 billion.

AmeriGas Partners, LP priced an upsized $700 million issue of 8.5-year senior bullet notes (Ba3//BB) at par to yield 5½%.

The issue size was increased from $550 million.

Concho Resources Inc. priced a $600 million issue of eight-year senior notes (Ba2/BB+) at par to yield 4 3/8%.

In the session's only deal to have run a roadshow, American Midstream Partners, LP and American Midstream Partners Finance Corp. priced a $300 million issue of five-year senior notes (Caa1/B+) at par to yield 8½%.

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