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Junk secondary volatile; DaVita lower; Moss Creek under pressure; cruise lines submerged
By Abigail W. Adams
Portland, Me., June 22 – The domestic high-yield bond primary market remained dormant on Wednesday with little visibility on prospective deals as volatility continued to roil capital markets.
In secondary action, DaVita Inc.’s 4 5/8% senior notes due 2030 (Ba3/B+) continued to move lower in heavy volume after the dialysis service provider lost a Supreme Court case.
Moss Creek Resources Holdings, Inc.'s senior notes were lower in active trading with the energy sector, in general, under pressure as crude oil futures tumbled.
While volume was light, Laredo Petroleum, Inc.’s 7¾% senior notes due July 2029 (B3/B) led losses in the secondary space with the notes diving more than 4 points.
Cruise line operators were also under pressure with Carnival Corp.’s and Royal Caribbean Group’s senior notes lower in active trading.
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