Diamond Resorts, Blue Yonder, Empire Resorts on tap; Charter, MasTec, Clear Channel trade up

By Paul A. Harris and Abigail W. Adams

Portland, Me., July 22 – The domestic high-yield primary market was relatively quiet on Wednesday with no deals clearing the market.

Diamond Resorts International Inc. pushed the timing of its $525 million offering of six-year senior secured notes (B3/B-) to Thursday with the deal initially slated to price on Wednesday.

Blue Yonder is also expected to price a $500 million offering of 5.5-year senior secured notes and Surgery Center Holdings, Inc. plans to price a $115 million add-on to its 10% senior notes due April 15, 2027 on Thursday.

Empire Resorts Inc. is in the market with $475 million of five-year senior secured notes (B+/B+), which is expected to price by Friday.

In the secondary, Charter Communications Inc. subsidiaries CCO Holdings LLC/CCO Holdings Capital Corp.’s 4¼% senior notes due Feb. 1, 2031 (B1/BB) were among the most actively traded issues in the secondary space following a massive add-on.

The notes were trading with a healthy premium to their reoffer price.

MasTec, Inc.’s newly priced 4½% senior notes due 2028 (Ba3/BB) and Clear Channel International BV’s 6 5/8% senior secured notes due 2025 (B2/B) were both well above their issue prices in active trading.

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