Primary reasonably busy; secondary firms; Charles River gains; Alcoa in focus

By Paul A. Harris and Abigail W. Adams

Portland, Ore., March 9 – Four issuers brought a combined five tranches of dollar-denominated notes to raise a total of $2.4 billion on a reasonably busy Tuesday in the new issue market.

Meanwhile, the secondary space firmed on Tuesday as the sell-off in Treasuries eased.

Trading activity continued to center on new deals with the deals to price during Monday’s session performing well.

Charles River Laboratories International, Inc.’s two tranches of senior notes (Ba2/BB) were active with the notes improving alongside the broader market.

Alcoa Nederland Holding BV’s 4 1/8% senior notes due 2029 (Ba1/BB+/BB+) also gained in high-volume activity with the notes at times lagging their issue price but closing the day on a par-handle.

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