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United Rentals, Brookfield, Moss Creek price; Adient, Mattel improve; Western Digital sinks
By Paul A. Harris and Abigail W. Adams
Portland, Me., April 26 – The domestic primary high-yield market rounded out an active week with an active session.
Brookfield Property REIT Inc., United Rentals (North America), Inc., Moss Creek Resources Holdings, Inc. and Xplornet Communications, Inc. each priced deals on Friday.
While Truck Hero, Inc. was scheduled to close the books on its $335 million offering of five-year first-lien senior secured notes (B2) on Friday, terms were not available as of press time.
The European primary market also saw some action on Friday with William Hill plc pricing a £350 million issue of seven-year senior notes (Ba1/BB) at par to yield 4¾%.
Meanwhile, in the secondary space, United Rentals’ new paper was active and making gains after freeing for trade.
Adient US LLC’s new 7% senior notes due 2026 continued to improve in high-volume activity.
Outside of the new paper, Western Digital Corp.’s split-rated 4¾% senior notes due 2026 were trading down in high-volume activity after an analyst downgrade of the company’s equity in the run-up to its earnings report.
Mattel Inc.’s 6¾% senior notes due 2025 saw nominal gains after a first-quarter earnings beat.
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