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Fortrea, Calumet price; Carnival gains; DISH down again
By Paul A. Harris and Abigail W. Adams
Portland, Me., June 12 – The high-yield new-issue market saw a pair of issuers raise a total of $895 million, each bringing a single tranche of notes on Monday.
Fortrea Holdings Inc. priced a $570 million issue of 7½% five-year senior secured notes.
Calumet Specialty Products Partners, LP and Calumet Finance Corp. priced a $325 million issue of 9¾% five-year senior notes (Caa1/B-) at par.
Meanwhile HighPeak Energy Inc. disclosed plans to run a roadshow through the end of the week for a $575 million offering of five-year senior notes.
Meanwhile, it was a quiet day in the secondary space with the cash bond market either side of unchanged ahead of a heavy slate of market moving events.
Carnival Corp.’s senior notes were lifted in heavy volume after the company’s stock was upgraded.
DISH Network Corp.’s senior notes (B3/B-) continued to see selling pressure after the company unveiled its wireless plan to investor dissatisfaction.
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