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Radiology on tap; CenturyLink, ADT, Air Transport, MEG, Ortho-Clinical, PBF at a premium
By Paul A. Harris and Abigail W. Adams
Portland, Me., Jan. 17 – After an active week that saw 11 issuers price $9.33 billion in 12 tranches, the domestic high-yield primary market took a breather on Friday.
However, joining the forward calendar, Radiology Partners, Inc. disclosed plans to shop a $610 million offering of eight-year senior notes at an investor lunch on Tuesday, Jan. 21.
Meanwhile, in the secondary space, ADT Inc.’s 6¼% senior notes due 2028 (B3/B-) were among the most actively traded issues in the secondary space with the notes more than 1 point above their issue price.
CenturyLink, Inc.’s 4% senior notes due 2027 (Ba3/expected BBB-/expected BB+) also saw heavy volume, but were the weakest of the new paper to price during Thursday’s session although trading at a premium.
MEG Energy Corp.’s 7 1/8% senior notes due 2027 (B3/BB-/B+) and PBF Holding Co. and PBF Finance Corp.’s 6% senior notes due 2028 (B1/BB/BB) – both issues from the energy sector – were putting in strong performances.
Air Transport Services Group, Inc.’s 4¾% senior notes due 2028 (Ba3/B+) were also more than 1 point above their issue price in active trading.
Ortho-Clinical Diagnostics SA’s 7¼% senior notes due 2028 (Caa2/CCC) were in demand with the notes one of the best performers of the recently priced paper.
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