Ascend Learning on tap; Match lags; Coty, Mattel gain; Bristow tanks post-earnings

By Paul A. Harris and Abigail W. Adams

Portland, Me., Feb. 11 – While the high-yield primary market saw no new deals price during Monday’s session, one did join the forward calendar.

Ascend Learning, LLC plans to price $300 million senior notes due Aug. 1, 2025 (existing ratings Caa2/CCC+) on Tuesday with price talk for a coupon of 6 7/8% and an issue price of 93 to 94.

Ascend joins Getty Images Inc. on the forward calendar with Getty planning to price its $400 million offering of eight-year senior notes (S&P: CCC+) in the middle part of the week.

Meanwhile, the secondary space was largely flat on Monday with trading volume light, sources said.

Match Group, Inc.’s newly priced 5 5/8% senior notes due 2029 were the most actively traded issue in the secondary space with the notes lagging their issue price.

CommScope Inc.’s three tranches of senior notes remained active although little changed during Monday’s session.

Mattel, Inc.’s 6¾% senior notes due 2025 (B1/BB-/BB) and Coty Inc.’s 6½% senior notes due 2026 continued their upward momentum on Monday after both posted surprise earnings beats.

However, Bristow Group Inc.’s junk bonds tanked after the company reported an earnings miss and terminated its acquisition of Columbia Helicopters, Inc.

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