Upsized Exela megadeal prices, as do CSVC, Ascend and Kinross; Hecla, Venator on tap

By Paul Deckelman and Paul A. Harris

New York, June 28 – For a second consecutive session, a trio of junk issuers priced new deals on Wednesday, syndicate sources said.

A total of $1.815 billion of such paper got done, up from the $1.2 billion that had priced during Tuesday’s session.

Exela Technologies had the big deal of the day, pricing $1 billion of six-year secured notes after that deal was upsized and underwent other revisions.

Capital Services did $515 million of eight-year notes, while Ascend Learning, LLC had a $300 million eight-year transaction.

Canada’s Kinross Gold Corp. priced an upsized and split-rated $500 million of 10-year notes. That issue was heard to have actively traded in the secondary realm.

The sources meantime were looking forward to pricings on Thursday from the likes of Hecla Mining Co., Venator Materials plc and Commercial Metals Co.

Secondary market traders meantime saw dealings in Tuesday’s issues from NFP Corp., Aker BP and Melco Resorts & Entertainment Ltd.

And they saw oil and natural gas credits like California Resources Corp. once again firmer, as crude prices rose for a fifth straight session Wednesday.

Statistical market performance measures were mixed for a second consecutive session on Wednesday; they had turned mixed on Tuesday, after having been higher across the board on Friday and again on Monday. Before that, the indicators had been mixed last Thursday, following two straight downside sessions.

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