Hi-Crush losses mount; Hexion first-lien notes see losses; Pacific Drilling active

By Abigail W. Adams

Portland, Me., Oct. 24 – Trading volume in the distressed debt space on Wednesday continued to center on names that have been in focus for much of the week.

Hi-Crush Partners LP’s 9½% senior notes due 2026 saw its losses mount in high-volume activity on with the notes sliding 4 points after a disappointing earnings report earlier in the week.

After rebounding from last week’s lows, Hexion Inc.’s 6 5/8% first-lien senior notes due 2020 slid in active trading as its 9% second-lien senior notes due 2020 continued to decline.

Pacific Drilling SA’s 8 3/8% senior secured first lien notes due 2023 weakened slightly in active trading on Wednesday after the company secured a contract for drilling operations in Nigeria.

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