BUZZ-Sponsor block glut

** With (Other OTC: WWTH - news) earnings season blackouts winding down, sponsor blocks reemerge, but leave investors and investment banks licking their wounds

** Shares (Berlin: DI6.BE - news) of CommScope Holdings, day's biggest block ($582 mln), slide more than 5 pct as Carlyle Group reduces its stake in the network gear maker

** Sources say bookrunners Barclays (LSE: BARC.L - news) and Credit Suisse (LSE: 0QP5.L - news) priced 20 mln shares at $29.10 vs stock's $30.34 last sale on Monday

** Next (Other OTC: NXGPF - news) largest deal, INC Research Holdings drops 10 pct after Avista Capital Partners and Ontario Teachers Pension Plan slash their combined interest by 40 pct

** Underwriter JP Morgan priced 8 mln shares at $45.50 vs Monday's $47.45 close, according to sources

** Finally, PRA Health Sciences (NasdaqGS: PRAH - news) also falls 10 pct as KKR trims its holdings in the contract research firm

** Sources cite Wells Fargo (Hanover: NWT.HA - news) reoffered 5 mln shares at $46.90 vs $48.90 last sale

** Notable that all three secondaries struck at discounts of 4.1 pct to their respective stock's last sale, seemingly the block going rate

** However, poor aftermarket performance and relatively light trading volumes suggest underwriters had difficulty offloading all deal shares to investors

** While overall market weakness Tuesday certainly not helping the cause; S&P 500 down nearly 1 pct

** Recent equity issuance, including spurt of IPOs in Apr, has picked up after a terrible start to the year for ECM activity (RM (LSE: RM.L - news) : lance.tupper.tr.com@reuters.net)