Primary activity in the US high-yield market remained subdued last week, with only a handful of small transactions clearing the market even as spreads across the asset classed remained stable. Double B rated jarden appeared to have little trouble selling a new US$300m eight-year non-call three, which was priced at the tight end of price talk of 5%-5.25% and traded up in the secondary market. The deal will help finance the company's acquisition of Visant Holding, a producer of year-books and graduation rings. While Jarden has been highly acquisitive in the past, investors evaluating the credit said the company had a strong track record of keeping debt and leverage in check.
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