HIGH YIELD SNAPSHOT
* High yield remains quiet.
* Better quality names attracting the most attention, junk struggling
* Last week saw positive inflows of $618 million
* Forward calendar is building
* $2 billion expected to price this week
* Hvide Marine was supposed to price today, but sounds like next week. See below for details.
MILLENIUM SEACARRIERS
Handysize bulk carrier high yield issuer issued a press release which stated the company paid its coupon earlier this week.
TBS
TBS and DLJ had a meeting today with bondholders willing to get restricted and bondholder advisors AMA/ Chanin. Sources indicate that a proposal hit the table but details were not available. Stay tuned.
HVIDE MARINE
Hvide’s high yield rescue package was supposed to price this week, but indications are it looks more like early next week.
This is only an excerpt of Freshly Minted – July 15, 1999
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