| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Halcon Resources Corp. > News item |
PetSmart notes strengthen as company offers loan amendment; Denbury notes traded mixed
By James McCandless
San Antonio, March 25 – Retailers and oil names were the main focus of distressed Monday trading.
PetSmart Inc.’s notes rose after the company offered more protections to senior lenders in a loan amendment.
The 7 1/8% notes due 2023 added 2½ points to close at 71½ bid. The 5 7/8% notes due 2025 gained 1¾ points to close at 84 bid.
Early Monday, news broke that the Phoenix-based pet-supplies retailer has submitted a potential loan amendment to its senior creditors.
In exchange for dropping ongoing litigation, the company would limit its ability to tack on additional senior debt.
Sector peer Neiman Marcus Group Inc.’s issues were trailing after reaching an agreement with a significant portion of its lenders on prolonging its debt maturities.
Denbury Resources Inc.’s paper was mixed in the wake of the company cancelling a merger following a lack of support from stakeholders.
The 5½% paper due 2022 fell 8¼ points to close at 67½ bid. The 6 3/8% paper due 2021 gained 1 point to close at 78¾ bid.
Elsewhere, PHI Inc.’s notes dropped as the company’s common stock is delisted from the Nasdaq.
A mixed day for oil futures spurred declines in California Resources Corp., Halcon Resources Corp. and Weatherford International plc’s issues.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.