Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for GPS Hospitality Holding Co. LLC > News item |
Two oversubscribed deals price in HY primary; Chemours struggles; funds lose $1.16 billion
By Paul A. Harris and Abigail W. Adams
Portland, Me., Aug. 5 – The new issue market put up another $1.85 billion in two junk-rated, dollar-denominated tranches on Thursday, as Ford Motor Credit Co. LLC and Crocs, Inc. priced oversubscribed deals in tight-pricing drive-by executions.
Meanwhile, it was a soft day in the day in the secondary space with several recent deals struggling.
Chemours Co.’s 4 5/8% senior notes due 2029 (B1/B) sank below par in active trading.
GPS Hospitality Holding Co. LLC’s 7% senior notes due 2028 (Caa1/B-/B-) fell flat with the notes closing the day below their issue price.
Outside of recent issues, CommScope, Inc.’s capital structure was under pressure following the company’s earnings report with the notes shaving off 2 to 3 points.
Meanwhile, the outflows continued with high-yield mutual and exchange-traded funds losing $1.16 billion in the week through Wednesday’s close, according to the Refinitiv Lipper Fund Flow Report Newsline.
© 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.