| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for Navient Corp. > News item |
Junk: Tenet prices; VistaJet, Navient struggle; Six Flags dips to new low; Icahn hard-hit
By Paul A. Harris and Abigail W. Adams
Portland, Me., May 2 – Tenet Healthcare Corp. was the lone deal in the junk bond primary space on Tuesday.
Meanwhile, it was soft in the secondary space as a risk-off sentiment swept through the market ahead of the Federal Open Market Committee’s rate*hike announcement.
While lower, the market held up well compared to the selling in equities with the cash bond market off ¼ point to 3/8 point.
Monday’s drive-by deals were struggling under the heavy market conditions with Navient Corp.’s new 9 3/8% senior notes due 2030 (Ba3/B+/BB-) and VistaJet Malta Finance plc’s 9½% senior notes due 2028 (B3/BB-/BB-) both underwater in heavy volume.
Six Flags Entertainment Corp.’s 7¼% senior notes due 2031 (B3/B) continued to see heavy selling pressure with the notes falling to a 96-handle.
However, Icahn Enterprises LP’s senior notes (Ba3/BB) were the largest losers of Tuesday’s session with the notes down 3 to 6 points after short-seller Hindenburg Research took aim at the company.
© 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.