Dry spell breaks in junkland; Seaspan higher; Endo down; AMC stronger; Talen skids

By Paul A. Harris and Cristal Cody

Tupelo, Miss., July 9 – After more than a week of dormancy the dollar-denominated high-yield new issue market awoke on Friday, seeing its second, third and fourth July tranches clear the market.

Three issuers raised a combined total of $1.63 billion in solid executions, with two tranches coming at the tight ends of talk, while the third priced in the middle of talk.

In secondary trading, Seaspan Corp.’s new 5½% senior notes due 2029 (BB-) added ¾ point to 100¾ going out after pricing at par earlier Friday, a source said.

Endo Finance LLC’s bonds continued to slide over Friday’s session.

Meme stock contender AMC Entertainment Holdings, Inc.’s bonds improved during the session as the company moves out of the distressed space.

Talen Energy Supply LLC’s bonds sank nearly 2 to 2½ points Friday as the company’s paper moves further into distressed territory.

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