Schweitzer-Mauduit, Carvana, Enova, Fortress price; Refinitiv, AkzoNobel on tap; AMC down

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 14 – Friday marked the busiest day of the week for new deal activity with four deals totaling $1.38 billion pricing.

Enova International, Inc. priced a $375 million issue of seven-year senior notes, Carvana Co. priced an upsized $350 million issue of five-year senior notes, Schweitzer-Mauduit International, Inc. priced a $350 million issue of eight-year senior notes, and Fortress Transportation and Infrastructure Investors priced a $300 million issue of seven-year senior notes.

The European primary market was also busy with Arqiva Broadcast Finance plc pricing £625 million of five-year senior notes and Garrett Motion Inc. and Together Financial Services Ltd. joining the forward calendar.

However, all eyes will be on Refinitiv and AkzoNobel NV with both expected to price their mega-deals in the coming week.

As attention turned towards the deals that broke for trade on Friday, the flurry of trading activity surrounding Pacific Drilling SA’s 8 3/8% senior secured first-lien notes due 2023 (Caa1/B) tempered with the notes largely unchanged.

Outside of the new deals, AMC Entertainment Holdings Inc. junk bonds were down in active trading after a shakeup in the company’s controlling shareholders.

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