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Adient, Moss Creek, Entercom, Brookfield roadshow; GFL, Vizient come in slightly
By Paul A. Harris and Abigail W. Adams
Portland, Me., April 22 – Dealers set the table for an active April 22 week, as four new roadshow deals rolled out on Monday.
Adient US LLC plans to run a Tuesday-Wednesday roadshow for a $750 million offering of seven-year senior secured notes (Ba2/BB-).
Brookfield Property REIT Inc. was scheduled to commence marketing for a $750 million offering of seven-year senior secured notes.
Moss Creek Resources Holdings, Inc. started a roadshow for a $500 million offering of eight-year senior notes (existing ratings B3/B+).
And Entercom Media Corp. started on Monday what figures to be a brief roadshow for a $300 million offering of eight-year senior secured second-lien notes (expected ratings B2/B-).
Meanwhile, new paper remained in focus in the secondary space with several of the recent issues coming in from their heights.
GFL Environmental Inc.’s 8½% senior notes due 2027 (Caa2/CCC+) were down slightly in active trading on Monday after soaring in the secondary space since pricing.
Vizient, Inc.’s 6¼% senior notes due 2027 (B3/existing B-) were also losing some ground while still trading at an enormous premium to their issue price.
Outside of the new paper, California Resources Corp.’s bellwether 8% senior notes due 2022 were making gains on a strong day for crude oil futures.
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