AMN Healthcare prices; forward calendar grows; j2 Global in focus; Frontier gains; Tenet tops par

By Paul A. Harris and Abigail W. Adams

Portland, Me., Oct. 5 – The domestic high-yield primary market priced one deal on Monday.

In drive-by action, AMN Healthcare sold an upsized $350 million of 8.5-year senior notes (Ba3/BB-).

However, with the market tone improving, the forward calendar grew to $3 billion, which is expected to price before the week draws to a close.

Meanwhile, the secondary space opened the day unchanged but roared into the market close following news of President Donald Trump’s imminent release from the hospital and renewed optimism surrounding a stimulus deal.

New paper remained the focus of trading activity.

While the deal was downsized and saw a weak break, j2 Global, Inc.’s 4 5/8% senior notes due 2030 (Ba3/BB) were trading up in high-volume activity on Monday.

Frontier Communications Corp.’s recently priced 5 7/8% first-lien senior secured notes due 2027 (B3/B+) continued their upward momentum in active trading.

Outside of recent deals, Tenet Healthcare Corp.’s 6 1/8% senior notes due 2028 (Caa1/CCC+/B) topped par for the first time since mid-September.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.