| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for AAR Escrow Issuer LLC > News item |
AAR prices; junk market firms; TransDigm regains par; Alteryx falls on tender offer
By Abigail W. Adams
Portland, Me., Feb. 14 – The domestic high-yield primary market was quiet but not dormant on Wednesday with one deal pricing on an accelerated timeline.
AAR Corp. priced an upsized $550 million of AAR Escrow Issuer LLC five-year senior notes on Wednesday.
Meanwhile, the secondary space pared losses from the sell-off sparked by Tuesday’s CPI print, which reflected an uptick in inflation and further squashed market hopes for rate cuts in the first half of 2024.
While the cash bond market closed the previous session down ½ point, it nearly slashed its losses in half with the market up 1/8 to ¼ point.
Recent deals that struggled under Tuesday’s heavy market conditions improved on Wednesday. TransDigm Inc.’s two tranches of first-lien senior secured notes (Ba3/B+) returned to their issue prices after falling to a 99-handle the previous session.
AmWINS Group, Inc.’s 6 3/8% senior secured notes due 2029 (Ba3/B+) also returned to a par-handle in heavy volume.
Outside of recent issues, Alteryx, Inc.’s 8¾% senior notes due 2028 (B3/B) were under pressure after acquiring entity Azurite Intermediate Holdings, Inc. initiated a low-ball tender offer for the notes.
© 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.