Bombardier, downsized Weight Watchers lead busy primary; new bonds active

By Paul Deckelman and Paul A. Harris

New York, Nov. 20 – The high-yield primary arena kept up its busy pace heading into the holiday-shortened Thanksgiving week, syndicate sources said on Monday, with half a dozen issuers combining to bring some $1.88 billion of new dollar-denominated and fully junk rated paper to market.

According to data compiled by Prospect News, it was the third straight big primary day as issuers rushed to get their deals done ahead of Thursday’s holiday break, following the $2.04 billion that priced in four tranches on Friday and $1.98 billion in three tranches on Thursday.

Canadian aircraft manufacturer Bombardier Inc. flew by with a $1 billion offering of seven-year notes, the day’s most actively traded aftermarket credit.

Diet food and services provider Weight Watchers International, Inc. brought a slimmed-down $300 million eight-year offering to market, while gaming technology provider Everi Payments, Inc. also priced a calendar deal, for $375 million of eight-year notes.

The session also saw a trio of add-ons.

Power generator Talen Energy Supply, LLC – which priced a $500 million eight-year issue last week – came back with another $225 million of those notes.

Heavy equipment company H&E Equipment Services, Inc. brought $200 million of its 2025 notes, while medical technology company Sotera Health Topco, Inc. did a $75 million tap of its 2021 PIK toggle notes.

Besides Bombardier, Talen and H&E were seen active in the aftermarket, along with several other recently priced issues.

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