High-Yield Bond Issuance Abbout $7 Billion; Chrysler Tops List
May 17 2011 - 3:08PM
Dow Jones News
With Chrysler Group LLC's $3.5 billion bond topping the list,
the high-yield bond market has seen about $7 billion in new deals
Tuesday as investor appetite is robust.
Dish/Echostar has a $1.8 billion bond, Petrohawk Energy has a
$600 million bond, Longview Fibre has a $450 million deal, Centene
Corp. has a $250 million bond, Exopack Holding has a $225 million
deal, First Wind Capital has a $200 million deal, Integra Telecom
Inc. has a $260 million bond and Amkor Technology has a $400
million bond.
"Most of these companies, save for the first two, aren't major
issuers, but the total $6.7 billion in volume on the day is among
the biggest one-day totals we've seen," said Guy LeBas, chief fixed
income strategist at Janney Montgomery Scott in Philadelphia.
The strong interest in higher-yielding assets is one reason
Chrysler increased the size of its bond offering to $3.5 billion
from $2.5 billion, market participants said.
-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227;
anusha.shrivastava@dowjones.com
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