TreeHouse Foods priced its high yield bond offering late-day Thursday. The deal is the first U.S. spec-grade issue to price is over a week.
A quarterly survey polling the opinions of credit managers show a clear consensus that credit conditions will worsen over the next three months.
Junk bond investors had another week of yanking assets from mutual funds and exchange-traded funds in the asset class. The same went for loans which saw the 26th consecutive week of withdrawals.
Horsehead Holding Corp. has been hit with a selective default rating by Standard & Poors after the zinc producer missed a $1.9 million coupon payment on its $100 million convertible notes issue this week.
Proceeds from the eight-year notes will be used to partially fund its $2.7 billion acquisition of the private brands business of ConAgra Foods.
The paper producer's could leave its debt holders with weak recoveries, Fitch Ratings said Wednesday.
Commercial Metals Company is looking to purchase a portion of two of its high yield bond issues in a tender offer.
Foresight Energy plans to take a little more time making a payment to holders of its 7.875% bond due 2021.
The $2.9 billion announced acquisition of Canadian Oil Sands Ltd. (COS) by A-rated Suncor Energy will not necessarily head off a potential downgrade of COS unsecured debt to junk status, according to Moody's.
The exploration and production company is offering holders of its 10% senior notes due 2017 the opportunity to swap out the debt for a new bond, cash and stock.