Coty notes head higher; Ontario Gaming strengthens in junk trading

By Cristal Cody

Tupelo, Miss., July 21 – While the new issue market was absent on a summer Friday, in the secondary junk bond market Coty Inc.’s 6 5/8% senior secured notes due 2030 (Ba2/BB) improved another 1/8 point and went into the weekend ½ point better than where it priced Wednesday.

Trading activity lightened after Thursday’s heavy volume of nearly $75 million in the name, a source said.

Stocks were mixed Friday. The S&P 500 index edged up 0.03% on the day.

The iShares iBoxx High Yield Corporate Bond ETF added 19 cents, or 0.25%, to $75.37.

Ontario Gaming GTA LP’s new 8% senior secured notes due 2030 (B2/B/B+) pulled back from some of their aftermarket gains on Friday but remained more than ¾ point better than where they priced in the prior session.

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