Primary gears up for final push; Carnival, CNX notes active; SM Energy higher, Transocean dips

By Paul A. Harris and James McCandless

San Antonio, Nov. 25 – The primary market was quiet heading into the Thanksgiving holiday, but is expected to hit the ground running in the post-Thanksgiving week, as the market anticipates $8 billion to $10 billion of issuance per week during the run-up to Christmas, sources say.

The high yield secondary focused on new issuance and energy names on Wednesday.

Newer notes from Carnival Corp. and CNX Resources Corp. were active but relatively unchanged on the day.

Oil and gas name SM Energy Co.’s issues pushed higher in the face of receiving a ratings downgrade.

Sector peer Transocean Ltd.’s paper was seen drifting amid a ratings upgrade.

Meanwhile, manufacturer United States Steel Corp.’s notes were on the rise as the company closed a deal of environmental bonds.

© 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.