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Merlin, Speedway price; new Charter notes rise; pharma names up; Sprint, T-Mobile higher
By James McCandless
San Antonio, Oct. 16 – The Wednesday high-yield primary market generated a steady flow of news as the European new issue market continued to wind its way through a big week, while the secondary market gave the majority of its attention to new issuance and pharma names.
Merlin Entertainments plc priced $410 million and €370 million of eight-year notes.
In a straight-up dollar-denominated trade from an issuer based in the United States Speedway Motorsports, LLC priced an upsized $350 million issue of eight-year senior notes.
In the secondary, two new notes from Charter Communications, Inc. were free to trade on Wednesday, both seeing higher results.
News of more settlements in the pharma industry spurred gains for Mallinckrodt plc’s and Teva Pharmaceutical Industries Ltd.’s notes.
Telecom names Sprint Corp.’s and T-Mobile US Inc.’s paper moved higher after the Federal Communications Commission approved their merger.
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