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Eco Material prices drive-by; Husky joins calendar; HUB adds; CSC, Caliber higher
By Paul A. Harris and Abigail W. Adams
Portland, Me., Jan. 22 – Eco Material Technologies Inc. priced an upsized $125 million add-on (from $100 million) to its 7 7/8% senior secured green notes due Jan. 31, 2027 (B2/B/B+) at 99.26 – on top of talk – to yield 8.158% in a Monday drive-by.
It was the sole deal to price on the day.
Meantime KeHE Distributors, LLC talked its $750 million offering of senior secured notes due 2029 (B3/B) to yield in the 9% area, tight to initial guidance in the low-9% area.
And Husky Injection Molding Systems Ltd. and Titan Co Borrower, LLC plan to market a $1.3 billion offering of senior secured notes due 2029 on a roadshow set to run through Friday.
Meanwhile, the secondary space saw a firm start to the week.
HUB International Ltd.’s recently priced tranches were putting in a strong performance with its 7 3/8% senior notes due 2032 (Caa2/B-) trading up to a 101-handle and its 7¼% senior secured notes due 2030 (B2/B) trading well above the reoffer price of the add-on.
Altice USA Inc. subsidiary CSC Holdings, LLC’s 11¾% senior guaranteed notes due 2029 (B2/B) and Caliber Collision’s 7 5/8% senior secured notes due 2032 (B3/B) also continued to add to their strong gains in active trade.
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