In Brief: $1.8 Billion of Junk Launched in a Week

Bankers priced 15 junk bonds worth $1.8 billion last week, as issuers and underwriters pushed to wrap deals up by the end of the year.

Early in the week NationsBanc Capital Markets Inc. priced a $185 million issue for Pillowtex Corp., to help the Dallas-based company finance its $600 million acquisition of Fieldcrest Cannon Inc. NationsBanc bumped up the offering from $150 million, due to hefty demand.

Other issues in the week week included a $145 million deal for Delco Remy International Inc., an Anderson, Ind.-based maker of auto parts., led by Salomon Smith Barney. Lehman Brothers Inc., meanwhile, led a $250 million offering for Imperial Holly Corp., to help the Sugar Land, Tex.- based company finance its acquisition of Savannah Foods & Industries Inc.

Morgan Stanley & Co. priced a $100 million issue for the Scotsman Group Inc., a Vernon Hills, Ill.-based refrigeration company.

Goldman Sachs & Co. priced a $110 million issue for Amscan Holdings Inc., an Elmsford, N.Y.-based maker of paper and plastic goods.

AMG Data Services, Arcata, Calif., reported that $351.9 million flowed into high-yield mutual funds last week.

Few issues are expected to price this week, because of the Christmas holiday, bankers said.

-Jennifer Goldblatt

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