Revlon mixed as company plans refinancing; Navios issues rise as exchange offer extended

By James McCandless

San Antonio, March 20 – The distressed market saw trading fixed on retail and energy names on Wednesday.

Revlon, Inc.’s notes closed mixed in the wake of an earnings miss and announced plans to refinance $500 million of its debt.

Sector peer Neiman Marcus Group, Inc.’s notes declined a day after a judge dismissed a fraudulent conveyance lawsuit against the name.

Meanwhile, in shipping, Navios Maritime Holdings Inc.’s paper rose after the company announced another extension of an exchange offer.

In energy, Bristow Group Inc.’s notes slipped as concerns of a coming default loom.

A small boost in oil futures led to a similar rise in California Resources Corp.’s and Ensco plc’s issues while Alta Mesa Resources, Inc.’s paper fell.

Telecom names Intelsat SA’s and Frontier Communications Corp.’s notes saw a mixed day.

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