Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for GTCR W-2 Merger Sub LLC > News item |
Two junk bond issuers bring $925 million; secondary sours; Worldpay notes decline
By Paul A. Harris and Cristal Cody
Portland, Ore., Sept. 26 – A pair of drive-by issuers, each bringing a single tranche of junk-rated, dollar-denominated notes, raised a total of $925 million on Tuesday.
In secondary trading, junk paper was widely lower in some of the most active issues by the close, including new issues, sources reported.
“The market sucks,” a source noted of the drop in the CDX High Yield 30 index and other indices. “The market was down 3/8 to ½ point.”
The S&P 500 index closed down 1.47%, with the iShares iBoxx High Yield Corporate Bond ETF dropping 32 cents, or 0.43%, to $73.58.
The CBOE Volatility Index jumped 12.07% to 18.94 in its highest close since May 25.
NCR Atleos Escrow Corp.’s 9½% senior secured notes due 2029 (B2/B+/BB-) gave back more than ½ point on $22 million of paper changing hands.
GTCR W-2 Merger Sub LLC’s 7½% senior secured notes due 2031 (Ba3/BB/BBB-) backing the buyout of Worldpay also lost nearly ½ point as one the more actively traded junk 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.