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Published on 12/12/2019 in the Prospect News Bank Loan Daily, Prospect News Convertibles Daily, Prospect News Distressed Debt Daily, Prospect News Emerging Markets Daily, Prospect News Investment Grade Daily and Prospect News Private Placement Daily.

Cox Media, Korn Ferry, AmWINS add-on price; Calpine, Charter active; Antero jumps

By Paul A. Harris and Abigail W. Adams

Portland, Me., Dec. 12 – The forward calendar cleared on Thursday with all dollar- and euro-denominated offerings in the market pricing.

Cox Media Group priced a downsized $1,015,000,000 issue of eight-year senior notes (Caa1/CCC+).

Korn Ferry priced a $400 million issue of eight-year senior notes (Ba3/BB).

AmWINS Group, Inc. priced a $250 million add-on to its 7¾% senior notes due July 1, 2026 (B3/B-).

In the European market, Berry Global Group Inc. priced an upsized €1,075,000,000 amount of split-rated first priority senior secured notes (Ba2/BBB-).

While the overall secondary market was strong, several recent junk issues continued to trade flat, a market source said.

Calpine Corp.’s recently priced 4½% senior notes due 2029 (Ba2/BB) and Charter Communications Inc.’ 4¾% senior notes due March 1, 2030 (B1/BB/BB+) remained active in the secondary space, although with little movement in price.

Staples Inc.’s junk bonds continued to see high-volume activity with the unsecured 10¾% senior notes due 2027 continuing to trade off but the secured 7½% senior notes due 2026 bouncing back from their lows.

Antero Resources Corp.’ junk bonds were outperformers during Thursday’s session with the notes trading up several points.


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