High-yield 4.817% WI level at the time of the auction 4.824%Tail -0.7 bps versus 6 month average of 0.0 basis points2.76X versus 6 month average of 2.63X9.24% versus 6 month average of 10.9%Directs 21.58 vs 6 month average of 27.0%Indirects 69.18% vs 6 month average of 62.1%AUCTION GRADE: A-The international buyers were strong taking nearly 70% of the issue. The bid to cover was stronger than the average. The tail showed a willingness to pay up to get the issue. The domestic buyers were lower-than-expected as they were outbid by the international buyers. Overall a solid auction. This article was written by Greg Michalowski at investinglive.com.