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RegionalCare to start roadshow; Gray notes gain; Newmark holds up
By Abigail W. Adams
Portland, Me., Nov. 2 – While high-yield new deal activity is expected to remain muted until mid-November, a billion-dollar-plus deal joined the forward calendar on Friday.
RegionalCare Hospital Partners Holdings, Inc. and LifePoint Health, Inc. plan to start a roadshow on Tuesday for a $1,575,000,000 offering of eight-year senior notes, according to a market source.
Meanwhile, the domestic and European primary market both saw deals that were expected to price on Friday pushed into the Nov. 5 week.
HC2 Holdings, Inc. remains in the market with its $535 million offering of senior secured notes although pricing was carried over to the coming week.
Victoria plc is now expected to price its €450 million offering of five-year senior secured notes (BB-/BB) during the Nov. 5 week. Pricing was also expected on Friday.
Meanwhile, the tone in the secondary market continued to improve but volatility has taken its toll.
However, the market conditions did not impact the performance of Gray Television Inc.’s newly priced 7% senior notes due May 2027 (B3/B+/BB-) in the secondary space with the notes trading up in high-volume activity.
Newmark Group Inc.’s split-rated 6 1/8% five-year senior notes (expected BB+/BBB-/Kroll: BBB-) were also holding up in secondary trading, a market source said.
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