US high yield chugs on, even with triple-C deals
Four high yield bonds totalling $765m were priced in the US between Thursday and Monday, as Coffeyville Resources and Aircastle tapped existing issues, while NPC International and AM Castle issued new deals.
The deals bring issuance in December to $2.715bn. NPC
s bond on Thursday was the first of three planned triple-C issues. The operator of Pizza Hut franchises sold $190m of long eight year debt, rated Caa1/CCC+, at par. Goldman Sachs and Barclays Capital set the coupon at the wide
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