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Zayo, AA price; Advantage Solutions on deck; Freeport-McMoRan lags; MSCI trades up
By Paul A. Harris and Abigail W. Adams
Portland, Me., Feb. 20 – The domestic high-yield primary market continued at a steady pace on Thursday.
Zayo Group Holdings Inc. priced its two-tranche megadeal, which was downsized to $2.58 billion.
While downsized, the tranches priced tight and played to massive demand.
American Airlines Group Inc. priced a $500 million issue of five-year senior bullet notes (B1/BB-/BB-) in a drive-by.
Mattamy Group Corp. was also heard to be in the market with a dual-currency offering, although final terms were not available by press time.
Advantage Solutions Inc. joined the forward calendar and announced that it had commenced a $1.145 billion two-part offering.
Meanwhile, in the secondary space Freeport-McMoRan Inc.’s newly priced 4 1/8% senior notes due 2028 and 4¼% senior notes due 2030 (Ba1/BB) were struggling in the aftermarket with both tranches closing the day below their issue price.
However, MSCI Inc.’s 3 5/8% senior notes due 2030 (Ba2/BB+) were trading at a large premium in high-volume activity, despite their tight pricing.
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