Forward calendar builds; SFR dominates; Sprint, T-Mobile mostly unchanged; Supervalu jumps

By Paul A. Harris and Abigail W. Adams

Portland, Me., June 13 – While the domestic primary market saw no new deals price on Wednesday, it sputtered to life with the forward calendar building.

Ardent Health Services set price talk for its $535 million offering of eight-year senior notes with pricing expected on Thursday.

Mark Andy set price talk for its $135 million private placement offering of five-year senior notes with allocation to take place Thursday.

Energizer Holdings Inc. plans to start an international roadshow on Thursday for a $1.25 billion equivalent two-part offering of eight-year senior notes (B2/BB-).

Teekay Offshore Partners LP and Teekay Offshore Finance Corp. started an international roadshow on Wednesday for a $500 million offering of five-year senior notes (expected ratings Caa2/B/B).

In the Canadian dollar-denominated junk market, Millar Western Forest Products Ltd. priced a C$150 million issue of five-year senior secured first-lien notes (B2/B-) at par to yield 9½%.

Meanwhile, the much-anticipated news on the outcome of AT&T-Time Warner’s battle with the U.S. Department of Justice had little impact on Sprint Corp. and T-Mobile USA, Inc.’s junk bonds on Wednesday, despite the green light the case signaled for merger and acquisition activity in the telecommunications sector.

Sprint’s junk bonds were seen up about 1 point with T-Mobile’s junk bonds “majorly unchanged,” a market source said.

SuperValu Inc.’s 7¾% senior notes due 2022 jumped 4 points on Wednesday after the company announced a proposal to reorganize into a holding structure.

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