Avolon prices; Getty trades up; Bombardier, CenturyLink rise on earnings

By Paul A. Harris and Abigail W. Adams

Portland, Me., Feb. 14 – The domestic high-yield primary market saw one deal price during Thursday’s session.

Avolon Holdings Ltd. priced an upsized $1.1 billion of senior notes (Ba2/BB+/BB+) in two bullet tranches.

The high-yield secondary space was mostly flat on Thursday.

However, Getty Images Inc.’s newly priced 9¾% senior notes due 2027 (Caa2/CCC+) were trading well above their issue price in high-volume activity.

Bombardier Inc.’s 7½% senior notes due 2025 were among the most actively traded issues in the secondary space with the notes posting gains after the aerospace company posted its first annual profit in several years.

CenturyLink, Inc.’s junk bonds were also on the rise following the telecommunications company’s earnings report.

Diebold Inc.’s 8½% senior notes due 2024 continued their upward momentum on Thursday with the notes again seeing large gains following its earnings report. However, McDermott International Inc.’s 10 5/8% senior notes due 2024 continued their downward spiral on Thursday following the announcement of overages on one of their construction projects.

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