Downsized Talen Energy prices, new Park-Ohio gains; Sunoco jumps; funds gain $2.38 billion

By Paul Deckelman and Paul A. Harris

New York, April 6 – The high-yield primary arena saw just one downsized deal price on Thursday, as Talen Energy Supply, LLC brought a $400 million offering of 5.25-year notes to market at a heavily discounted price.

One of Wednesday’s deals – industrial components manufacturer Park-Ohio Industries, Inc.’s 10-year notes – was the day’s standout aftermarket performer, gaining more than 2 points on the session in active trading.

Traders also saw good gains on busy volume in the new five-year deal from CNH Industrial Capital LLC.

Away from the new issues, traders saw Sunoco, LP’s several series of bonds move higher in busy trading after the fuel distributor announced plans to sell almost all of its more than 1,300 company-owned gas station-and convenience store operations, most of them to 7-Eleven, Inc., and put the more than $3 billion of proceeds towards debt reduction.

Statistical market performance measures were mixed for a third straight session on Thursday. They had turned mixed on Tuesday and then stayed that way after improving across the board on Monday.

Another numerical gauge turned strongly positive in the latest reporting week, according to numbers released on Thursday, with $2.375 billion more coming into those weekly reporting-only domestic funds than leaving them in the form of investor redemptions during the week ended Wednesday.

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