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Revlon moves out of single digits; Endo mixed; new Lowe’s paper trades with 80s handle
By Cristal Cody
Tupelo, Miss., June 21 – Revlon Inc.’s notes moved out of the single digits, climbing 4 points on Tuesday following the company’s Chapter 11 bankruptcy filing last week.
Revlon Consumer Products Corp.’s 6¼% senior notes due 2024 (C/D) went out at 10¼ bid on $3 million of issues traded, a source said.
Endo International plc’s paper caught the bulk of attention in the distressed space during the session with the notes unchanged to about 5/8 point lower.
Endo’s 7½% senior secured notes due 2027 (Caa2/CCC) were flat at 74½ bid on $11 million of volume, a source reported.
Meanwhile, high-grade notes remained under pressure, including paper priced in 2022, sources said.
Lowe’s Cos. Inc.’s 4¼% notes due 2052 (Baa1/BBB+) brought to the market in March were down nearly 1 point at the 85 bid area and a 5¼% yield after shedding about 1 point on Friday, a source said.
AT&T Inc.’s 3.65% notes due 2059 (Baa2/BBB/BBB+) traded in the 73¼ to 73¾ bid area and yielding 5.296% by the close, down about ½ point from Friday, a source said.
Roper Technologies Inc.’s 2% notes due 2030 (Baa2/BBB+) were down more than ¼ point with a handle below 80 bid and yielding 5.07% on Tuesday, a source said.
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