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Endo notes higher; Mallinckrodt mixed; Team Health, Envision improve; Air Method quiet
By Cristal Cody
Tupelo, Miss., Nov. 1 – Paper in the distressed health care and pharmaceutical space had mixed demand on Monday.
Notes from Endo International plc, Team Health Holdings, Inc. and Envision Healthcare Corp. gained.
Endo Finance LLC’s 6% senior notes due 2028 (Caa3/CCC+) traded up ¾ point early in the session to ½ point better by the close at 70¼ bid, a source said.
Mallinckrodt plc’s bonds were mixed as the company continues its Chapter 11 bankruptcy process.
Mallinckrodt’s 5½% notes due 2025 were quoted at 45½ bid in heavy trading totaling $12 million, a source said.
The notes were about ¼ point better than where the issue was seen in thin trading in the prior week.
In the health care space, Team Health’s 6 3/8% senior notes due 2025 (Caa3/CCC) rose about 1 point to 89¾ bid.
Envision Healthcare’s 8¾% senior notes due 2026 (Ca/CC) picked up about ½ point by the close to 68 bid.
Air Methods Corp.’s notes were not active. The company’s 8% senior notes due 2025 (Caa3/CCC) were last seen on Friday down about 2½ points on the week and ending the month nearly 20 points weaker at 76½ bid.
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