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Trinity prices 7¾% notes; Howard Midstream on HY deck; Viking, Carnival gain steam
By Paul A. Harris and Abigail W. Adams
Portland, Me., June 28 – Trinity Industries, Inc. stepped forward as issuer of the day in junkland with an offering of 7¾% five-year notes.
Meanwhile, it was a strong day in the secondary space with buyers active in the market as the end of the quarter approaches, a source said.
The cash bond market was lifted 1/8 to ¼ point with recession concerns receding in the wake of strong economic data.
New paper continued to dominate the tape although with muted aftermarket performances.
The Earthstone Energy Holdings, LLC 9 7/8% senior notes due 2031 (B3/B+/B+) fell flat with the notes hovering around their discounted issue price in heavy volume.
Viking Cruises Ltd.’s 9 1/8% senior notes due 2031 (Caa1/B-) continued to gain steam after a soft open with the notes closing the day with a ¼ point gain.
Carnival Corp.’s senior notes remained well bid with the notes adding another ¼ to ½ point in active trade.
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