Hologic drives by, gains in aftermarket; new Tribune up, busy; funds plunge $2.89 billion

By Paul Deckelman

New York, June 18 – The high-yield primary sphere saw its second consecutive billion-dollar-plus megadeal price on Thursday, as Hologic, Inc. brought a quick-to-market $1 billion offering of five-year notes to market. Traders said they firmed smartly on brisk volume when they hit the aftermarket.

The traders saw even more activity in Wednesday’s $1.1 billion of seven-year notes from Tribune Media Co., which were easily the busiest bonds in Junkbondland. The notes pushed upward from their par issue price.

Univar Inc. was heard by syndicate sources to be getting ready to hit the road Friday with a $400 million offering of eight-year notes that is expected to price around the middle of the coming week.

Summit Materials LLC unveiled plans for a new $275 million of unsecured notes as part of a larger financing plan for the purchase of assets from a competitor.

Charter Communications Inc. started syndicating $13.8 billion of bridge loan financing.

Away from actual or prospective new deals, Rite Aid Corp.’s bonds rose as the drugstore chain operator reported earnings.

Statistical measures of market performance rose across the board after having been mixed for two straight sessions and lower twice in a row before that.

But flows of money into or out of high-yield mutual funds and exchange-traded funds, considered a trustworthy barometer of market liquidity trends, posted their biggest weekly loss of the year so far and their second straight sizable downturn.

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