United States

Joy Ferguson

Sprint set to print biggest US high yield deal of year

Sep 04 2013

NEW YORK, Sept 4 (IFR) - Sprint Corp is set to print the biggest US high yield deal of the year on Wednesday, giving a shot of confidence to the market that is expecting to see as much as USD30bn of supply this month.

T-Mobile USA debuts in US high-yield with $500m deal

Aug 14 2013

Aug 14 (IFR) - T-Mobile USA made its debut in the US high-yield market on Wednesday with a US$500m debt offering that allowed investors take a bet on the carrier's ability to find a niche in the fiercely competitive US wireless telecom business.

American Airlines bonds tumble after US files suit

Aug 13 2013

Aug 13 (IFR) - American Airlines unsecured bonds tumbled sharply in price in the secondary market on Tuesday, traders said, after the Justice Department filed a suit to block the merger of the company's parent with US Airways - a tie-up that would create the largest US carrier.

Bankers keep eye on cap rates in high-yield M&A trades

Jul 19 2013

July 19 (IFR) - As US Treasuries have stabilized and yields tighten anew, bankers are optimistic that pending M&A trades in the US high-yield bond market will find strong demand from investors - and not hurt the underwriters bringing the deals to market.

Tenet acquisition of Vanguard puts M&A deal in pipeline

Jun 24 2013

NEW YORK, June 24 (IFR) - Tenet Healthcare joined the high-yield pipeline of M&A deals on Monday, announcing plans to acquire smaller rival Vanguard Health Systems for USD4.3bn, including the assumption of USD2.5bn of debt.

M&A borrowers set to test US high-yield markets

Jun 21 2013

NEW YORK, June 21 (IFR) - Unrelenting volatility has kept junk-rated borrowers out of the funding markets in recent days. But with commitments for its M&A financing already in place, pharmaceutical giant Valeant has little option but to tackle a tumultuous market head on with a mega-sized deal.

Market rout makes Dish bond redemption nice deal for bondholders

Jun 21 2013

NEW YORK, June 21 (IFR) - Dish Network Corp said on Friday it will redeem bonds issued in May to finance the bid for Sprint Nextel that it abandoned earlier this week, cheering bondholders who stand to make a profit on the debt.

Yankee Candle calls off $1.4bn fundraising

Jun 13 2013

NEW YORK, June 13 (IFR) - Yankee Candle called off plans Thursday to raise $1.4 billion in fresh capital, withdrawing a bond issue and term loan amid tough and volatile conditions in the US financing markets.

US high-yield issuers sit out market volatility, await payrolls

Jun 05 2013

NEW YORK, June 5 (IFR) - High-yield issuers have largely remained on the fence this week as broader volatility continues to put downward pressure on the market.

High yield deals seen going forward, but outflow risks may rise with rates

May 29 2013

NEW YORK, May 29 (IFR) - As Treasuries sold off in recent days, the higher quality segment of the high-yield market has taken a hit, but bankers indicate that most borrowers won't let this affect their plans to come to market.

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