Warrior Met Coal prices tap; Sprint, Rite Aid dominate secondary; energy names active

By James McCandless

San Antonio, Feb. 26 – The week started slowly for the high-yield market, with the only new issue in the form of a $125 million add-on to Warrior Met Coal, Inc.’s 8% senior secured notes due 2024, and a sluggish secondary market, with volume down compared to recent weeks, traders said. Volume was mostly taken up by recent pricings and junk bonds.

A recent issue by Sprint Corp. has been dominating the secondary market since its $1 billion pricing last Wednesday.

Rite Aid Corp. notes managed to hold their own amid the low-volume day.

In energy, Whiting Petroleum Corp. and Chesapeake Energy Corp. provided most of day’s activity as oil futures rose slightly Monday.

Weatherford International plc’s recent pricing saw a handful of trades.

Intelsat SA and Northern Oil and Gas, Inc. added to the day’s activity.

© 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.