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goeasy spotted as lone dollar deal in Monday junk market; secondary tone marked as soft
By Paul A. Harris and Cristal Cody
Portland, Ore., Nov. 13 – goeasy Ltd. came Monday with a $550 million drive-by issue of five-year senior notes (Ba3/BB-), the only deal to cross the finish line in the junk bond market on the day.
It priced at par to yield 9¼%, in the middle of yield talk.
The primary market generated news away from that issue.
New junk paper continued to dominate the secondary market Monday but issues were mixed over the session.
Market tone was mostly soft.
The iShares iBoxx High Yield Corporate Bond ETF fell 7 cents, or 0.09%, to $73.99.
OneMain Holdings, Inc.’s newly reopened 9% senior notes due Jan. 15, 2029 (Ba2/BB) gave back almost ½ point Monday.
The issue was among the most active junk bonds seen over the day with trading topping $32 million.
Bombardier Inc.’s 8¾% senior notes due 2030 (B2/B) climbed around ¾ point on $18.5 million of secondary action over the session.
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