Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for WernerCo > News item |
Sirius XM megadeal, Weatherford add-on drive by; Hertz rises on Apple link-up; Arconic off
By Paul Deckelman and Paul A. Harris
New York, June 26 – The high-yield primary market started off the new week – the last in June – with a bang on Monday, pricing some $2.25 billion of new U.S. dollar-denominated and fully junk-rated paper in three tranches.
It was the most new notes priced in three weeks.
Satellite broadcaster Sirius XM Radio Inc. had the big deal of the day, an upsized and quickly shopped $2 billion offering of five- and 10-year notes.
Traders said the new Sirius securities firmed slightly in the aftermarket.
Oilfield services provider Weatherford International Inc. had Monday’s other new issue, a quick-to-market $250 million add-on to its existing 9 7/8% notes due 2024 sold last November.
They did not immediately report any initial aftermarket dealings in those notes.
Some of last week’s new issues, including those from cloud services provider j2 Cloud Services, LLC, and ladder manufacturer Werner Co., were seen clinging to the solidly higher levels to which they rose after their respective pricings.
Away from the new deals, Hertz Corp. paper was up on news reports that the car-rental company will partner with Apple Inc. as the latter attempts to develop a self-driving car.
On the downside, Arconic Inc. bonds fell amid news reports that the aluminum products company supplied flammable aluminum panels used in the construction of Grenfell Tower, the London high-rise that was the scene of a fire on June 14 that killed at least 79 people.
© 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.