Nexstar plans notes offering; secondary market firms; energy names improve; Tesla active

By Paul A. Harris and Abigail W. Adams

Portland, Me., Dec. 3 – The domestic primary market remained dormant on Monday with the window for new deal activity in 2018 narrowing to two weeks.

While no new deals were announced during Monday’s session, sources were hopeful improved market conditions would rekindle new issue activity before the year draws to a close.

Nexstar Media Group Inc. announced that it would use new bonds and loans to help fund its acquisition of Tribune Media Co., providing an inkling about future new deal activity.

Meanwhile, the secondary space firmed on Monday with equity markets improved after a reduction in trade tensions between the U.S. and China and crude oil futures jumping amid chatter about production cuts.

The junk bonds from several energy names were on the rise in high volume activity on Monday, including California Resources Corp., Whiting Petroleum Corp., Weatherford International plc, and Cenovus Energy Inc.

Tesla Inc.’s junk bond was a benefactor of U.S. President Donald Trump and China President Xi Jinping declared trade war truce with the notes making minor gains in active trading.

© 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.