Superior Energy notes in focus after bankruptcy; American Airlines eyed in travel space

By James McCandless

San Antonio, Dec. 7 – Kicking off the week in distressed debt trading, the attention turned to energy and travel names.

Superior Energy Services, Inc.’s notes varied in direction after the company filed for Chapter 11 bankruptcy on Monday.

The 7¾% senior notes due 2024 grabbed 1 point to close at 31½ bid. The 7 1/8% senior notes due 2021 lost 1¼ points to close at 28¾ bid.

On Monday morning, the Houston-based oilfield services provider filed for Chapter 11 bankruptcy to implement a proposed pre-packaged plan of reorganization, Prospect News reported.

The company entered the Chapter 11 cases with the support of holders of about 85% of its $1.3 billion of senior unsecured notes.

In the travel space, American Airlines Group, Inc.’s notes moved in different directions amid headlines about a coronavirus vaccine.

The 5% senior notes due 2022 moved up ¼ point to close at 88 bid. The 11¾% senior notes due 2025 held level to close at 116¼ bid.

The Fort Worth-based commercial airline’s structure remained front and center amid headlines about a potential coronavirus vaccine.

Reports indicated on Monday that the Food and Drug Administration could authorize a prospective vaccine for use among the public by the end of the week.

© 2015 Prospect News.
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