AMN drives by; Telesat joins slate; WeWork lower amid downgrade; Rite Aid better

By James McCandless and Paul A. Harris

San Antonio, Sept. 26 – The junk new-issue session generated a steady stream of news on Thursday, with one active drive-by, while new issues also dominated in high-yield secondary trading, netting positive result.

AMN Healthcare, Inc. priced a $300 million issue of eight-year senior notes (Ba2/BB-) at par to yield 4 5/8%, via SunTrust.

Telesat Canada and Telesat LLC rolled out a $500 million offering of eight-year senior notes, with pricing expected on Friday.

Pricing for the upsized $785 million Shutterfly Inc. seven-year senior secured notes deal, which has been brewing for almost two weeks, was refined to specify an 8½% coupon at an issue price of 95.

In the secondary, new Beacon Roofing Supply, Inc., Qorvo, Inc. and Howden (Granite Holdings US Acquisition Co.) notes were free to trade.

Elsewhere, WeWork Cos. Inc.’s issues moved lower amid a ratings downgrade.

Drug store name Rite Aid Corp.’s paper performed better after the company released better-than-expected second-quarter earnings.

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