Endo notes see unexplained spike in volume; PetSmart mixed a day after hiring advisers

By James McCandless

San Antonio, June 7 – The distressed debt market experienced another day of lackluster activity on Thursday, traders reported.

Endo International plc notes spiked in trading, though market sources were unsure of the cause.

PetSmart, Inc. issues were mixed a day after the company hired advisers to help contain and reduce its $8 billion in debt.

Murray Energy Corp. paper declined, reversing some gains made since Monday’s announcement of a debt restructuring agreement made with portions of its noteholders and lenders.

Intelsat SA notes gained. Recently, the company posted subpar results in its Q1 report. Frontier Communications Corp. issues were mixed. The company recently presided over a failed auction for its Florida assets. Bristow Group Inc. paper rose.

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