Carnival, Weatherford gains continue; Community Health lower; Xerox falls post-earnings

By Abigail W. Adams

Portland, Me., Oct. 25 – The domestic high-yield primary market remained dormant on Tuesday although the European market showed signs of life with one new offering in the works.

Cirsa Finance International Sarl began marketing a €350 million offering of five-year senior secured notes (B3/B-).

The cash bond market saw a strong session as Treasury and equity markets rallied with the market lifted ½ point.

Carnival Corp.'s 10 3/8% senior priority notes due 2028 (B2/B+), the most recent issue to clear the primary market, continued to rise in heavy volume.

Weatherford International Ltd.’s 8 5/8% senior notes due 2030 (B3/CCC+) also continued their upward momentum heading into earnings with the optimism justified by the results posted after the bell.

However, negative sentiment continued to drag down CHS/Community Health Systems Inc.'s senior notes with earnings expected later in the week.

And Xerox Holdings Corp.’s notes were dragged down by disappointing results.

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