Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for AAdvantage Loyalty IP Ltd. > News item |
Four junk issues sell $3.14 billion; AAdvantage in focus; funds lose $5.331 billion
By Paul A. Harris and Abigail W. Adams
Portland, Ore., March 11 – A busy Thursday in the primary market had four issuers drive by with single tranche dollar-denominated junk deals, raising a combined $3.14 billion.
Meanwhile, it was a strong day in the secondary space on Thursday as the 10-year Treasury benchmark briefly dipped below the 1.5% threshold in intraday activity.
New paper remained in focus with American Airlines, Inc. and its AAdvantage Loyalty IP Ltd.’s two tranches of senior notes (Ba2//BB) dominating trading activity.
The two tranches continued to gain after soaring on the break during Wednesday’s session.
American Airlines’ mammoth bond offering lifted the airline’s outstanding senior notes with the 11¾% senior notes due 2025 making large gains in active trading.
While Thursday was a strong day, it followed a period of softness with outflows making a dent in the market.
High-yield mutual and exchange traded-funds had a massive $5.331 billion leave the space in the week through Wednesday’s close, according to the Refinitiv Lipper Fund Flow Report.
© 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.