Focus turns to September; Digicel up on exchange; First Quantum loses more; Diebold gains

By Paul A. Harris and Abigail W. Adams

Portland, Me., Aug. 31 – The primary and secondary space were both quiet in the run up to the Labor Day weekend with all eyes turning towards the steady pipeline of deals expected in September.

Refinitiv’s $5.5 billion equivalent of secured and unsecured notes in dollars and euros is expected to come to market early in the month.

AkzoNobel Specialty Chemicals’ €1.5 billion equivalent of notes, including possible dollar-denominated notes, is also expected in early September.

Trading volume in the secondary space remained light with many calling an early start to the long weekend.

Digicel Group Ltd.’s junk bonds were on the rise after a steep drop earlier in the week after the company announced an exchange offer.

Diebold, Inc.’s 8½% senior notes due 2024 were again on the rise after the company announced it had successfully amended the terms of its credit agreement.

First Quantum Minerals Ltd.’s junk bonds continued to lose ground in active trading on Friday as copper prices fell further.

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