Performance Food, VMED price; forward calendar grows; Seaspan, Masonite, Jaguar in focus

By Paul A. Harris and Abigail W. Adams

Portland, Me., July 12 – The high-yield new-deal machines on both sides of the Atlantic roared into mid-July with multiple deal announcements in New York and London on Monday.

McGraw-Hill Education, Inc. came with the highest profile announcement, $2.025 billion of junk in two tranches.

Two issuers priced $1.55 billion face amount of paper in Monday drive-bys.

Performance Food Group priced an upsized $1 billion issue.

VMED O2 UK Financing I plc priced a $550 million green-bond add-on.

Meanwhile, it was a quiet day in the secondary space with the market unchanged amid light volume.

With the primary market returning to action, new paper once again dominated the tape.

Seaspan Corp.’s 5½% senior notes due 2029 remained in focus with the notes continuing to trade with the large premium reached after breaking for trade.

Masonite International Corp.’s 3½% senior notes due 2030 (Ba1/BB+) and Jaguar Land Rover Automotive plc’s 5½% senior notes due 2029 (B1/B) were also active with the notes holding their premiums.

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