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Radiology Partners, Station Casinos price; Lamar mixed; Altice, Navient wane; CHS higher
By Abigail W. Adams
Portland, Me., Jan. 24 – The high-yield primary market rounded out an action-packed week with two deals pricing, bringing the total new dollar-denominated deal volume for the week to $13.57 billion.
Radiology Partners, Inc. priced an upsized $710 million issue of eight-year senior notes (Caa2/CCC+) and Station Casinos LLC priced an upsized $750 million issue of eight-year senior notes (B3/B-).
Meanwhile, the secondary space was heavy on Friday with the market, in general, down ¼ point, a market source said.
Altice’s new 6% senior notes due 2028 (Caa1/CCC+) issued by Ypso Finance BIS SA gave up their gains on Friday and were seen lagging their issue price.
Lamar Advertising Co.’s two tranches of senior notes (Ba2/BB) were mixed with the longer-duration tranche trading at a premium and the shorter-duration tranche cuffed around par.
Navient Corp.’s 5% senior notes due 2027 (Ba3/B+/BB) and Garda World Security Corp.’s 4 5/8% senior notes due 2027 were also largely stuck at par.
However, CHS/Community Health Systems Inc.’s 6 5/8% senior notes due 2025 were changing hands at a healthy premium in secondary market activity.
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