Downsized Consol launches; Harland Clarke on tap; Acrisure slates; Dynegy up; Sprint off

By Paul Deckelman

New York, Oct 30 – Consol Mining Corp. launched a downsized $300 million eight-year senior secured issue on Monday – carrying a considerably wider coupon than had been talked around the market last week, high-yield syndicate sources said on Monday.

There was no word by press time Monday evening about whether the coal miner’s deal had priced.

The sources meantime said that check printer and advertising services company Harland Clarke Holdings Corp.’s $500 million add-on to its existing five-year notes is expected to price during Tuesday’s session.

They meantime saw another U.S. dollar-denominated and fully junk-rated deal join the forward calendar, as insurance brokerage company Acrisure LLC began shopping around a $725 million eight-year issue, with pricing expected at the end of the week.

Another company based in the United States – records storage and information technology firm Iron Mountain Inc. – was heard to be tapping the sterling market with an eight-year issue.

Traders saw sizable activity in Friday’s new deals from goeasy Ltd. and FXI Holdings, Inc.

Away from the new issues, traders saw Dynegy Inc.’s bonds rise in active trading on news that Vistra Energy Corp. will buy Dynegy in a $1.7 billion all-stock deal.

Homebuilder Lennar Corp.’s bonds eased on the news that it will acquire sector peer CalAtlantic Group Inc., whose bonds firmed.

The prospect that the possible merger between Sprint Corp. and T-Mobile USA may not take place caused Sprint’s paper to slide.

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