Arctic: Credit Daily - HY Markets, Prime Data Centers, Altra Fastigheter, CMB.TECH ++

Research evidence excerpt

Arctic: Credit Daily - HY Markets, Prime Data Centers, Altra Fastigheter, CMB.TECH ++

Credit Daily

29 June 2026 | 08:16

HY Markets, Prime Data Centers, Altra Fastigheter, CMB.TECH ++ Key figures & indices Arctic HY Index

HY Markets: Equities lower, credit holds firm

Concerns around Big Tech and AI weighed on global equities last week, with MSCI World down

1.9% and Nasdaq falling 4.6%. Alphabet and Nvidia both declined around 9–10%, while the SOX

semiconductor index was down 5%. Oil prices fell 11% to USD 72/bbl, and together with PCE

figures broadly in line with consensus, this supported lower rates across markets. USD rates

declined 6–10bps, while 5-year rates in EUR, NOK and SEK fell 12–14bps. Credit markets were

comparatively stable. iTraxx Xover tightened 3bps to +247bps, while CDX HY widened 3bps to

+306bps. In cash, USD HY fell 0.2%, with spreads 22bps wider, while EUR HY gained 0.1% despite

spreads widening 13bps. In the Nordics, the Arctic Nordic HY Index moved 3bps wider to +479bps,

while NBP declined 0.14 points. This week is likely to represent one of the final windows for

issuers to launch new transactions ahead of the Nordic summer slowdown. Given the constructive

technical backdrop, we expect primary activity to remain elevated in the near term.

Prime Data Centers: Contemplates USD 600m senior secured bond issue

Prime Data Centers, through Elk Grove Village Property TopCo LLC (the issuer), is contemplating

a USD 600m senior secured bond issue under a USD 1.0bn framework with a 4-year tenor. Net

proceeds will be used to finance Prime projects, fund a 6-month DSRA and for general corporate

purposes. The bonds will benefit from first-priority security over the issuer and SPV share pledges,

the DSRA and pledged Prime project loans.