HCA up on week; Cheniere Energy drops; PBF Energy gives back gains in HY secondary

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 3 – While the domestic high-yield primary market remained dormant on Friday, sources expect an active September with some forecasting new deal volume to hit $60 billion.

Meanwhile, the already thin liquidity in the secondary space all but dried up on Friday with the highly anticipated nonfarm payroll report failing to spark activity in the space.

The most actively traded name had about $12 million in reported volume. And that name belonged to HCA Healthcare, Inc.

The company’s 3˝% senior notes due 2030 inched higher in active trading with the notes up about 1 point on the week.

Cheniere Energy, Inc.’s 4 5/8% senior notes due 2028 were down in active trading on Friday after rising earlier in the week.

After a strong rally the previous week, PBF Holding Co. LLC’s junk bonds gave back some of their gains and closed the week lower.

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