Chart prices dollar deal, breaks strong; Mohegan up; Sirius, Life Time active in junkland

By Paul A. Harris and Abigail W. Adams

Portland, Me., Dec. 8 – The first junk-rated, dollar-denominated deal to clear the market since before Thanksgiving priced on Thursday.

Engineered equipment manufacturer Chart Industries, Inc. broke the dry spell with a well-received offer.

Meanwhile, the secondary space firmed on Thursday with the cash bond market adding ¼ point after slipping or barely holding steady over the past three sessions.

While trading volume remained light, new paper from Chart jumpstarted activity with the two-tranche offering breaking strong.

Sirius XM Radio Inc’s 3 7/8% notes due 2031 (Ba3/BB) were active although with little movement in price after falling 1 point over the past few sessions.

Mohegan Gaming & Entertainment’s 8% senior secured notes due 2026 (Caa1/B-) eliminated their losses from the past three sessions to reclaim their former level.

Life Time Inc.’s 5¾% senior secured notes due 2026 (B3/B-) were active after the company presented at a conference although with little movement in price.

Meanwhile, high-yield mutual and exchange-traded funds posted nominal inflows of $66 million in the week ending Wednesday, according to the Refinitiv Lipper Fund Flows report.

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