CEVA on road; LifePoint Health notes rise; California Resources up; Intelsat gains

By James McCandless and Paul A. Harris

San Antonio, July 24 – Tuesday saw no new deals price in the high-yield primary market, although one issuer began a roadshow for an offering, while trading in the secondary market remained at Monday’s levels.

Baar, Switzerland-based third-party logistics company CEVA Logistics AG began a roadshow for its €300 million offering of seven-year senior secured notes (B1/BB-).

The roadshow wraps up on Thursday.

In the secondary market, LifePoint Health Inc.’s 5 3/8% and 5 7/8% senior notes continued to rise a day after news of the company’s acquisition.

California Resources Corp.’s 8% notes due 2022 rose with oil futures

Intelsat SA notes improved as the Federal Communications Commission considered a rule change that could benefit satellite firms.

IHS Markit Ltd.’s senior notes garnered more attention from the market Tuesday.

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