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Altice drives by junkland, old issues active; Allwyn starts roadshow; Lindblad at a premium
By Paul A. Harris and Abigail W. Adams
Portland, Me., April 18 – The junk bond primary market used Tuesday for a new offering of notes from Altice USA, Inc.
Meanwhile, it was another uneventful day in the secondary space with the cash bond market launching the day strong but deflating into the close, sources said.
The market struggled, seeking direction, with the slew of recent bank earnings doing little to move the needle in the secondary space.
“It’s been really, really quiet. There’s very low conviction across asset classes,” a source said.
Lindblad Expeditions Holdings, Inc.’s 9% senior secured notes due 2028 (B3/B) were unchanged after a strong break with the notes holding a solid premium to their issue price.
CSC Holdings, LLC’s outstanding issues were active on the back of the new Altice offering with the short-dated 5¼% senior notes due 2024 (Caa1/B-) the largest benefactor of the new offering.
Spirit AeroSystems Inc.’s 7½% senior secured second-lien notes due 2025 (B3/B-) pared their losses from the previous week with the notes returning to a 99-handle.
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