Denbury mixed as early exchange results come in; Frontier lower in telecom space

By James McCandless

San Antonio, June 17 – The activity in the Monday distressed debt session could be seen as a holdover from last week’s drivers.

Denbury Resources Inc.’s notes finished mixed after the company released early participation results for its exchange offers for three tranches.

Elsewhere in energy, Ensco Rowan plc’s issues fell with oil futures while California Resources Corp.’s and Weatherford International plc’s paper was mixed.

Telecom name Frontier Communications Corp.’s notes were lower amid sustained chatter of a potential restructure.

Satellite company Intelsat SA’s issues saw a boost.

In retail, PetSmart, Inc.’s paper moved lower one trading day after its e-commerce segment Chewy.com launched an initial public offering.

Sector peer J. C. Penney Co., Inc.’s notes improved.

Generic drugmaker Teva Pharmaceutical Industries Ltd.’s issues were mixed, remaining a topical name in the space.

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