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KeHE prices; junk calendar adds new names; CSC Holdings softens; Sinclair rally continues
By Paul A. Harris and Abigail W. Adams
Portland, Me., Jan. 23 – KeHE Distributors, LLC priced Tuesday’s sole dollar-denominated deal, a $750 million issue of five-year senior secured notes (B3/B) that came at par to yield 9%, in the middle of talk.
Meanwhile, it was a relatively flat day in the secondary space with the cash bond market either side of unchanged as market focus turns towards earnings.
Buyers were in search of paper with several offers-wanted-in-competition lists circulating, a source said.
Activity surrounding recent issues began to slow as market players eyed the new deals on deck.
After logging strong gains since breaking for trade, Altice USA Inc. subsidiary CSC Holdings, LLC’s 11¾% senior guaranteed notes due 2029 (B2/B) softened in heavy volume on Tuesday.
Sinclair Broadcast Group, Inc.’s 4 1/8% senior secured notes due 2030 (Ba3/BB-) continued to rally in the wake of its settlement with subsidiary Diamond Sports Group, LLC.
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