Mineral Resources carries over; Crestwood Midstream up; Staples tranche closes at par

By Paul A. Harris and Abigail W. Adams

Portland, Me., April 12 – While the domestic high-yield primary market was expected to price one deal on Friday there were no updates on it by press time.

Mineral Resources Ltd.'s $750 million offering of eight-year senior notes (Ba3/B+) will most likely be next week’s business, sources said.

While the forward calendar is thin, Natural Resource Partners LP’s $275 million offering of six-year senior notes and Vizient, Inc.’s $300 million offering of unsecured notes are also expected during the April 15 week.

Meanwhile, the secondary space closed the week on firm footing. However, trading volume was light with familiar names continuing to see the bulk of trading activity.

Staples Inc.’s 7½% senior secured notes due April 15, 2026 (B1/B+) remained a major volume mover in the secondary space with the notes continuing to gain momentum and closing the week at par.

Pacific Gas & Electric Co.’s 6.05% senior notes due 2034 also remained in focus with the notes continuing to post gains following proposed legislative changes in California.

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