Mallinckrodt’s woes continue; Teva drops; J.C. Penney explores options

By Abigail W. Adams

Portland, Me., July 19 – The distressed debt space saw light volume on Friday with few names seeing substantial activity, a market source said.

The issues that did see some activity were largely losing ground.

Mallinckrodt plc’s junk bonds continued to trade off on Friday as negative news for the pharmaceutical company mounts.

Teva Pharmaceutical Industries Ltd.’s junk bonds were also losing ground as some of the bonds in its corporate structure approach maturity.

While volume was light, J.C. Penney Co. Inc.’s 5.65% senior notes due 2020 sank on news the struggling retailer was exploring options to restructure its debt.

© 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.