Nielsen, Spirit AeroSystems price; DISH gains in junk trading; crypto-exposed notes fall

By Paul A. Harris and Abigail W. Adams

Portland, Me., Nov. 8 – Buoyed by a supportive capital markets backdrop two dollar-denominated secured deals priced Tuesday on accelerated timelines.

The leveraged buyout Nielsen Holdings plc deal priced. Separately, Spirit AeroSystems Inc. priced a new offering late on Tuesday.

Meanwhile, in secondary trading it was another whipsaw session for risk assets with the high-yield market gaining ¼ to ½ point early in the session with equities strong.

And then Bitcoin crashed, dragging broader markets down with it.

While the broader market closed Tuesday on soft footing, DISH Network Corp.’s 11¾% senior secured notes due 2027 (Ba3/B+) held on to the gains made early in the session to close the day well above their discounted issue price.

Issuers with exposure to Bitcoin suffered large losses as well with Coinbase Global, Inc.’s senior notes (Ba2/BB) and MicroStrategy Inc.’s 6 1/8% senior notes due 2028 (Ba3/B-) falling 4 to 6 points during Tuesday’s session.

MPH Acquisition Holdings LLC’s (MultiPlan Corp.) also had large losses during Tuesday’s session after disappointing earnings.

© 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.