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West Corp. in focus; Goodyear gains as ATD drops; Altice, Eclipse Resources active
By Paul A. Harris and Abigail W. Adams
Portland, Me., Aug. 28 – The domestic primary market was again dormant on Tuesday with all eyes on September when new deal volume is expected to reach $25 billion.
With no new paper entering the space since Aug. 14, the secondary space continued to see light trading volume.
West Corp.’s 8½% senior notes due 2025 were the most actively traded of the day with the notes seeing slight gains after the company announced a new chief operating officer.
Goodyear Tire & Rubber Co.’s junk bonds also saw slight improvement on Tuesday as American Tire Distributors, Inc.’s 10¼% senior notes due 2022 continued to drop.
The movement in the notes was attributed to an expanded tire distribution partnership between Amazon and Sears.
Altice France SA’s 7 3/8% senior notes due 2026 were also active on the tape although the notes were largely unchanged on the day.
While Eclipse Resources Corp.’s 8 7/8% senior notes due 2023 were unchanged from Tuesday’s close, the notes were up 4 points on the week after the company announced it will merge with Blue Ridge Mountain Resources.
Diebold Inc.’s struggling 8½% senior notes due 2024 were up again on Tuesday in the wake of news it had secured financing for a new term loan.
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