Accuride Plans Debt as High-Yield Sales Surge: New Issue Alert
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Accuride Corp., the Evansville, Indiana-based maker of wheels for trucks and trailers, is marketing debt as high-yield, high-risk issuance surpassed $1.7 billion for the second time in a month.
Accuride may sell $300 million of first-priority, senior-secured notes due 2018, according to a statement distributed by Business Wire. Debt sales for speculative-grade issuers surged to $9.5 billion for July, the highest monthly volume since April, when issuance totaled $34 billion.