Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Carnival plc > News item |
Carnival on deck; Yum! skyrockets; Envision Healthcare tanks; BWAY drops on earnings
By Paul A. Harris and Abigail W. Adams
Portland, Me., March 31 – The domestic high-yield primary market saw more action on Tuesday, although the deal that surfaced was far from typical.
Carnival Corp. and Carnival plc announced plans to price a $3 billion equivalent offering of three-year first-priority senior secured notes (existing ratings Baa1/BBB).
While the company is investment grade, the deal will price off of the high-yield desk. It was heard to be playing to intense demand, which included distressed-debt accounts.
Meanwhile, new paper and recent fallen angels dominated activity in the secondary space. Yum! Brands, Inc.’s 7¾% senior notes due 2025 (B1/B+), the first new deal in almost one month, skyrocketed in high-volume activity.
Envision Healthcare Corp.’s 8¾% senior notes due 2026 tanked 21 points in active trading with the market losing confidence in the company’s ability to stay afloat.
BWAY Holding Co.’s senior notes were also trading off 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.