TriNet prices; Hudbay Minerals outperforms; GoDaddy flat; Coeur Mining lags

By Paul A. Harris and Abigail W. Adams

Portland, Ore., Feb. 23 – Against the backdrop of a roller-coaster session in the stock market one high-yield deal crossed the finish line, albeit at the wide end of talk.

TriNet Group, Inc. priced a $500 million issue of 3½% eight-year senior notes (Ba2/BB) at par. Talk was in the 3 3/8% area.

Meanwhile, it was a volatile day in the secondary space with the cash bond market opening the day down 1/8 to ¼ point but closing the day largely unchanged, sources said.

While macro events were in focus on Tuesday, new paper continued to dominate the tape.

Hudbay Minerals Inc.’s 4½% senior notes due 2026 (B3/B/B+) outperformed with the notes trading almost 2 points above their issue price.

However, GoDaddy Inc.’s 3½% senior notes due 2029 (Ba3/BB-) remained wrapped around their issue price.

Coeur Mining, Inc.’s 5 1/8% senior notes due 2029 (B3/B) struggled in the aftermarket with the notes sinking below par in active trading.

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