European junk primary active; Charter, Citrix weaker; Altice France under pressure

By Paul A. Harris and Abigail W. Adams

Portland, Me., July 5 – The action was in Europe on Wednesday for junk bond investors as Americans returned from a Tuesday holiday.

Meanwhile, it was a soft day in the secondary space with the release of the Federal Open Market Committee minute notes increasing the likelihood of a July rate increase.

While soft, the space was largely quiet with the market gingerly returning from what was for some an extended holiday weekend.

The cash bond market closed the day down about ¼ point, a source said.

Several names were lower alongside the broader market.

Charter Communications, Inc. subsidiary CCO Holdings, LLC’s senior notes (B1/BB-) were weaker after a strong end to June.

Cloud Software Group Holdings Inc.’s (Citrix) 9% second-lien notes due 2029 (Caa2/B-) were also down alongside the broader market.

Altice France SA’s senior notes (B2/B-) were under pressure with the notes off 1½ to 3 points in light volume.

© 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.