| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for L Brands, Inc. > News item |
Primary prices more than $3.5 billion; Delta flies high; Energizer flat; L Brands trades up
By Paul A. Harris and Abigail W. Adams
Portland, Me., Sept. 17 – Four issuers conducted drive-bys in the junk bond primary market on Thursday and one deal cleared the calendar for over $3.5 billion of new business.
Meanwhile, the secondary space was soft on Thursday as equities sold off on the heels of a Federal Reserve announcement.
The deluge of new paper was also beginning to take its toll on the secondary space with some recent deals falling flat.
Energizer Holdings, Inc.’s 4 3/8% senior notes due 2029 (B2/B+) and Restaurant Brands International, Inc.’s 4% senior notes due 2030 (B2/B+) were largely wrapped around their issue prices in active trading on Thursday.
However, L Brands, Inc.’s 6 5/8% senior notes due 2030 (B2/B+) were trading at a large premium.
Delta Air Lines Inc. and SkyMiles IP Ltd.’s two tranches of senior notes (Baa1//BBB) soared in high-volume activity in the aftermarket.
Meanwhile, funds pared their losses from the previous week with high-yield mutual and exchange-traded funds seeing inflows of $526 million through Wednesday’s close, according to the Refinitiv Lipper US Fund Flows report.
Funds had outflows of $769 million the previous week, which was only the second outflow in the past 10 weeks, sources said.
© 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.