| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for MSCI, Inc. > News item |
Alcoa prices; MSCI, Calfrac on tap; BWX, JW Aluminum on the road; Sprint, Hexion up
By Paul A. Harris and Abigail W. Adams
Portland, Me., May 14 – The domestic primary market was active on Monday with one deal pricing and several more on tap.
Alcoa Corp. priced a $500 million issue of 10-year senior notes (Ba1/BB+) at par to yield 6 1/8% in a drive-by. The notes dominated secondary market activity after breaking for trade and were seen well above their issue price.
MSCI Inc. was expected to price a $500 million offering of 8.5-year senior notes (Ba2/BB+) in a Monday drive-by but terms were not available by press time.
Price talk was for a yield in the 5¼% area, slightly wide of early guidance in the low 5% area.
Calfrac Holdings LP is on deck for Tuesday, which will also see the launch of roadshows from BWX Technologies, Inc. and JW Aluminum Continuous Cast Co.
Kraton Corp. is in the market with a euro-denominated offering with proceeds to be used to pay off dollar-denominated debt.
While Alcoa’s new notes were in focus in the secondary market, Sprint Corp.’s 8¾% senior notes due 2032 and 6 7/8% senior notes due 2028 (B3/B) also saw heavy trading volume with the notes climbing 2 points after Sprint announced more aggressive terms for its consent solicitations.
Hexion Inc.’s 9% senior notes due 2020 (Ca/CCC) were also up in high volume trading after the company announced first quarter earnings.
© 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.