| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for Wildhorse Resource Development Corp. > News item |
Vector prices; INTL FCStone postpones; Weatherford ‘destroyed’; Sanchez drops
By Paul A. Harris and Abigail W. Adams
Portland, Me., Oct. 30 – While market conditions were cited as the reason one potential issuer pulled an offering on Tuesday, the domestic primary market did see one deal price.
Vector Group Ltd. priced a $325 million issue of eight-year senior notes (B2/B-) at par to yield 10½% on Tuesday.
However, INTL FCStone Inc. became the second prospective issuer in a week to postpone a deal.
The forward calendar narrowed to GEP Haynesville LLC and HC2 Holdings, Inc. with the current market environment pushing up the cost of capital.
Meanwhile, trading volume was light in Anixter, Inc.’s newly priced 6% senior notes due 2025 (Ba3/BB/BB-) with the notes slightly weaker.
Oil futures continued to drop on Tuesday, dragging down the overall market.
Weatherford International plc’s junk bonds tanked in high-volume activity on Tuesday.
While less active on Monday, the notes also saw significant declines after the company reported third-quarter earnings.
Sanchez Energy Corp.’s 7¼% senior notes due 2023 also dropped.
The company announced the resignation of its chief financial officer on Monday.
The notes were also trading down on news Chesapeake Energy Corp. would acquire WildHorse Resource Development Corp.
© 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.