Primary prices over $5 billion in one session; secondary firm; solid recent issues

By Paul A. Harris and Abigail W. Adams

Portland, Ore., Dec. 15 – The high-yield bond primary market was on fire on Tuesday with eight junk issuers placing nine tranches.

This is the second consecutive Tuesday with over $5 billion of issuance in one session.

Meanwhile, the high-yield secondary space was firm on Tuesday.

New paper remained in focus with the majority of deals to hit the secondary space trading with solid premiums.

While the notes did not reach the same heights as some of last week’s deals, new paper from EnLink Midstream, LLC, ATS Automation Tooling Systems Inc., GFL Environmental, Inc., and Ascent Resources Utica Holdings LLC/ARU Finance Corp. were trading with decent premiums in the aftermarket.

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