Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Western Digital Corp. > News item |
Downsized Western Data megadeal prices, bonds firm; new T-Mobile gains; Diebold shops deal
By Paul Deckelman and Paul A. Harris
New York, March 30 – Junkbondland saw its heaviest volume of new issuance so far this year on Wednesday – in fact, it was its biggest-volume session going back for months.
However, all of that new paper was attributable to just one deal. Western Digital Corp. brought a giant-sized two-part offering to market off the forward calendar.
The $5.23 billion overall size of the deal – though downsized from originally announced levels – was still great enough to qualify as the biggest deal of the year so far. It included an upsized tranche of seven-year, split-rated senior secured notes paired with a downsized offering of purely junk-rated eight-year senior unsecured notes.
While the bonds came to market late in the session, traders did quote both tranches higher – particularly the secured piece.
The traders meantime saw solid gains in heavy trading in the new T-Mobile USA, Inc. bonds that priced on Tuesday.
And Monday’s new issue from HD Supply, Inc. was also heard to have continued to push up from its issue price, in active dealings.
Away from the deals that have actually priced, syndicate sources said that Diebold Inc. had started a roadshow on Wednesday for a $500 million offering of eight-year notes, which is expected to price early next week.
Statistical market performance measures broke out of their recent slump, turning higher across the board on Wednesday after having been lower for a fifth consecutive session on Tuesday.
© 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.