| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Q > Headlines for Quiksilver, Inc. > News item |
Clear Channel drive-by caps $11.6 billion week, new deals dominate trading, Quiksilver gyrates
By Paul Deckelman and Paul A. Harris
New York, Sept. 5 – Clear Channel Communications Inc. visited Junkbondland on Friday, bringing a quickly-shopped $750 million issue of eight-year secured notes.
The San Antonio, Texas-based diversified media company’s offering was the sole pricing of the session, syndicate sources said.
However, it topped off one of the busiest new-issuance weeks seen this year, helping to validate predictions by market sources that the high-yield primary market – which had pretty much fallen into a late-summer torpor after its last previous pricing, all the way back on Aug. 14 – would quickly come roaring back to life right out of the gate once Labor Day was past with a heavy volume of pent-up financing transactions on the way to what could well be a September to remember.
As of the close of trading, some $11.56 billion had come to market this week in 20 tranches, according to data compiled by Prospect News – a stark contrast to the goose-eggs that the primary had put up over the previous two weeks.
Meanwhile, trading remained heavy in the issues that priced earlier in the week, particularly Thursday’s megadeals from Linn Energy, LLC and Steel Dynamics, Inc. And trading remained brisk in Wednesday offerings such as Frontier Communications Corp. and T-Mobile US, Inc.
New deals pretty much dominated the secondary realm, but away from those issues, there was considerable trading in Quiksilver Inc.’s bonds, which gyrated around after the disappointing earnings the sports apparel maker reported late Thursday – but which seemed to strengthen from their early lows.
© 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.