BBB inks $240 million; Norwegian firm; Carnival, Pattern Energy rise

By Paul A. Harris and James McCandless

Portland, Ore., July 17 – An otherwise quiet summer Friday in the new-issue market featured one small deal from a high beta credit.

GC EOS Buyer, Inc., doing business as BBB Industries, priced a $240 million issue of 9¼% five-year senior secured notes (Caa1/CCC+) at 95.229 to yield 10½%, the yield coming at the wide end of the 10¼% to 10½% yield talk.

Rounding out the week, the high-yield secondary space continued to focus on travel names.

Newer notes priced from Norwegian Cruise Line Holdings Ltd., Carnival Corp. & plc and Pattern Energy Operations LP all trended higher.

Entertainment name Netflix, Inc.’s paper was lifted on the back of a lukewarm second-quarter earnings report.

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