AmWINS adds on; AM General trades above 103; L Brands pares losses; Tenet moves lower

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 22 – The primary market remained sluggish on Tuesday with a single add-on deal clearing the market.

AmWINS Group Inc. priced a $100 million tap of its 7¾% senior notes due July 1, 2026 (B3/B-).

However, the forward calendar continued to grow with $3.25 billion in deals set to price before the week draws to a close.

Meanwhile, the secondary space was firmer on Tuesday with several names paring their losses from the previous session.

Consolidated Communications Holdings, Inc.’s 6½% senior notes due 2028 (B2/B+) and L Brands, Inc.’s 6 5/8% senior notes due 2030 (B2/B+) regained some of the premiums lost during Monday’s sell-off.

AM General LLC’s 9½% senior secured notes due 2028 (B2/B+) continued to shoot higher in active trading.

While several issues recouped their losses from Monday, Tenet Healthcare Corp.’s 6 1/8% senior notes due 2028 (Caa1/CCC+/B) was not among them with notes again moving lower.

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