Camelot clears junk bond primary, higher in secondary; market tone generally better

By Cristal Cody and Paul A. Harris

Tupelo, Miss., July 20 – Camelot Return Merger Sub Inc. priced the first dollar-denominated high-yield bond deal to clear the market in two weeks, on Wednesday.

Market tone was better overall throughout the day, though junk trading supply remains on the light side, sources said.

“There hasn’t really been much in high yield,” one source said, looking back on the last few weeks.

The junk secondary market has grappled with a “lack of new issuance,” another market source noted this week. “Also, there is risk. The market is up, down, up, down.”

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