Tenet Healthcare on the rise; Albertsons gains; WeWork comes in

By Paul A. Harris and Abigail W. Adams

Portland, Me., Aug. 16 – The domestic high-yield primary market was again dormant on Friday, as it has been for much of the week.

However, with encouraging economic data, the domestic high-yield primary market may see a deal come to market before the month is through, sources said.

Meanwhile, the secondary space closed out a choppy week on strong footing although volume was light and the future direction of the market remains uncertain, sources said.

Tenet Healthcare Corp.’s newly priced tranches of senior notes (Ba3/BB-) were again gaining ground on Friday alongside the broader market with each tranche reaching its highest level since pricing.

Albertsons Cos. Inc’s recently priced 5 7/8% senior notes due 2028 (B3/BB-) were also on the rise after coming in during the previous session.

After trading up to their highest level since pricing a little more than one year ago, WeWork Cos. Inc.’s 7 7/8% senior notes due 2025 were weakening on Friday.

However, the notes still made substantial gains on the week.

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