Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Caesars Entertainment, Inc. > News item |
Primary prices $3.2 billion; forward calendar grows; Caesars, PGT on a 101-handle
By Paul A. Harris and Abigail W. Adams
Portland, Me., Sept. 13 – The domestic high-yield primary market saw a strong start to what is expected to be a busy week with three issuers pricing a cumulative $3.2 billion in four tranches.
Gap, Inc.’s $1.5 billion two tranche offering of senior notes was one of Monday’s drive-by deals (Ba3/BB).
The calendar also grew with Coinbase Global, Inc.’s debut junk-bond offering among the deals announced.
Meanwhile, the secondary space continued to hold near all-time tights although volume outside of new and recent deals remained light.
While there has been chatter about a potential correction on the way, “there are no sellers of anything,” a source said.
Many remain in wait-and-see mode with the market focused on the latest consumer price index data set to be released tomorrow, which has the potential to be a market-moving event.
With few sellers in the market and outstanding issues trading at high prices, new deals continued to be the main source of trading activity in the secondary space.
Caesars Entertainment Inc.’s 4 5/8% senior notes due 2029 (Caa1/CCC+) and PGT Innovations, Inc.’s 4 3/8% senior notes due 2029 (B2/B+) jumped in aftermarket activity with both issues trading on a 101-handle.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.