Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for KLX Energy Services Holdings, Inc. > News item |
GFL pulls offering; three deals on tap; United Rentals improves; funds see outflows
By Paul A. Harris and Abigail W. Adams
Portland, Me., Oct. 25 – Volatility in capital markets moderated on Thursday, but the turmoil took its toll on the deals in the market.
GFL Environmental Inc. withdrew a $400 million offering of senior unsecured notes (Caa2/CCC+) and shifted the proceeds to its concurrent bank loan.
INTL FCStone Inc., KLX Energy Services Holdings, Inc. and GEP Haynesville LLC are expected to price on Friday although pricing widened due to market conditions, sources said.
Meanwhile, the tone in the secondary space improved on Thursday with the market firming.
United Rentals (North America) Inc.’s newly priced 6½% senior notes due 2026 (Ba3/BB) dominated activity in the secondary space.
The notes improved during Thursday’s session after barely holding par after breaking for trade on Wednesday.
Hexion Inc.’s junk bonds continued their downward spiral as creditors gear up for a fight and the chemical sector in general remains under pressure.
Tesla Inc.’s 5.3% senior notes due 2025 were major volume movers with the notes jumping 2½ points after the electric car manufacturer crushed analyst expectations in its third-quarter report.
While the tone improved on Thursday, high-yield mutual funds and exchange-traded funds – considered a reliable barometer of overall liquidity trends in the junk market – saw $2.364 billion of outflows for the week ended on Wednesday.
© 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.