Upsized Cheniere and NCL Corp. deals drive by; Carlson Wagonlit, Starwood slate

By Paul Deckelman and Paul A. Harris

New York, Dec. 5 – The first full trading week of December got underway on Monday with a pair of sizable quick-to-market offerings.

Liquefied natural gas company Cheniere Corpus Christi Holdings, LLC did an upsized $1.5 billion of 8.25-year secured notes, while cruise line operator NCL Corp. priced a $700 million issue of five-year notes.

Traders quoted the latter bonds moderately higher in initial aftermarket dealings.

They also saw considerable activity in such recently priced credits as Friday’s offerings from Alta Mesa Holdings, LP, Grinding Media Inc. and Nabors Industries Inc. – the last a split-rated transaction that played to high-grade as well as junk investors – and Thursday’s big two-part deal from Hudbay Minerals Inc.

All were seen holding onto, or even adding to, the gains they notched when those deals began trading in the secondary.

Away from the issues which have already priced, syndicate sources said that the forward calendar grew with the addition of prospective deals from the corporate parent of business travel and event planner Carlson Wagonlit BV, doing a $1.03 billion equivalent three-part offering of dollar- and euro-denominated secured and unsecured notes, and real estate investment trust Starwood Property Trust Inc., which is shopping a $500 million five-year deal around.

Smaller deals were also being marketed by the likes of Rowan Companies, Inc., Downstream Development Authority and Matador Resources Corp.

Statistical market performance measures remained higher across the board on Monday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.