| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Bausch Health Cos. Inc. > News item |
Bausch mostly higher; iHeartMedia bonds, CDS spreads weaken; Bed Bath & Beyond active
By Cristal Cody
Tupelo, Miss., May 18 – Bausch Health Cos. Inc. remained a stand-out name in the distressed secondary bond market on Thursday in heavy trading action.
Bausch’s paper mostly climbed a second day after gaining 1½ points to more than 3 points the prior session following a favorable court ruling.
Bausch’s 11% senior secured notes due 2028 (Caa1/CCC+/B), up 2 points on Wednesday, added ¼ point on $12 million of trading, a source said.
The issue was quoted at 77¾ bid.
The 4 7/8% senior secured notes due 2028 (Caa1/CCC+/B) gave back ½ point on Thursday to head out at 62¾ bid on $13 million of volume.
In other distressed paper, iHeartMedia, Inc.’s bonds and credit default swap spreads have been under pressure this week, sources said.
iHeart’s 6 3/8% senior secured notes due 2026 (B2/BB-) fell ¾ point to 77¼ bid on $3.27 million of trading on Thursday, a source said.
The company’s CDS spreads widened more than 200 basis points this week.
Bankrupt Bed Bath & Beyond Inc.’s 4.915% senior notes due 2034 (C/D) were active on $3.5 million of trading.
The issue went out at 3 bid and carrying a yield of 134.55%, a source said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.