Envision accelerates timing; W&T on tap; Rite Aid gains; Ascent, Altra unchanged

By Paul A. Harris and Abigail W. Adams

Portland, Me., Sept. 27 – While the domestic primary market saw no new deals price during Thursday’s session, Friday promises to be an active day.

Envision Healthcare Corp. accelerated timing on its highly anticipated $1,625,000,000 offering of eight-year senior notes (Caa1) with pricing now expected on Friday.

Vine Oil & Gas LP and Vine Oil & Gas Finance Corp.’s $350 million offering of senior notes due April 15, 2023 (Caa1/B-) is also on tap for Friday.

The forward calendar continued to grow with W&T Offshore, Inc. planning a roadshow for a $625 million offering of five-year notes with pricing expected in the Oct. 1 week.

The European primary market saw some action on Thursday.

James Hardie International Finance priced an upsized €400 million issue of eight-year senior notes (Ba1/BB/BBB-), and Avis Budget Finance plc priced a €350 million issue of 4¾% long seven-year senior notes (expected B1/confirmed BB).

El Corte Ingles, SA set price talk for its €600 million offering of 5.5-year senior notes (expected ratings Ba1/BB+/BB+) with pricing expected on Friday.

Meanwhile, the deals to price during Wednesday’s session were largely unchanged in secondary trading.

Altra Industrial Motion Corp.’s 6 1/8% senior notes due 2026 (B2/B+) and Ascent Resources Utica Holdings, LLC’s 7% senior notes due 2026 (B2/BB-) continued to trade above their issue price.

Chesapeake Energy Corp.’s 7% senior notes due 2024 improved slightly in high-volume activity with the notes climbing back to par.

© 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.