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Caesars Entertainment, Intel convertibles active in trading; ImmunoGen bonds, stock soften
By Cristal Cody
Tupelo, Miss., Oct. 12 – Caesars Entertainment Corp.’s convertible bonds remained fairly active over the day, going out modestly softer on Thursday.
The company’s 5% convertibles due Oct. 15, 2024 ended at 186.34 versus where the bonds last traded on Wednesday at 186.55 and on Tuesday at 188.50.
Caesars Entertainment’s stock closed up 5 cents, or 0.41%, to $12.30.
The Las Vegas-based gaming and entertainment company announced on Oct. 6 that it has completed the merger with Caesars Acquisition Co. and finalized the restructuring of Caesars Entertainment Operating Co., Inc. and debtor subsidiaries. The moves follow the company’s exit from Chapter 11 bankruptcy proceedings.
Intel Corp.’s convertibles also traded strongly over the session, according to market sources.
Intel’s 3.25% convertible bonds due Aug. 1, 2039 (A2/A) closed at 188.10. The bonds went out at 188.71 on Wednesday and at 190.404 on Tuesday.
The Santa Clara, Calif.-based technology company’s shares slipped 11 cents, or 0.28%, to close at $39.19.
In other trading on Thursday, ImmunoGen, Inc.’s 4.5% convertible senior notes due July 1, 2021 that were issued on June 20, 2016 were active, a market source said. The notes closed at 175.20, compared to 188.95 on Wednesday.
ImmunoGen’s shares dropped 47 cents, or 7.1%, to close at $6.15.
The Waltham, Mass.-based biotechnology company announced on Wednesday that it closed on its offering of 16,675,000 shares of common stock at $6.50 per share.
Mentioned in this article:
Caesars Entertainment Corp. Nasdaq: CZR
ImmunoGen, Inc. Nasdaq: IMGN
Intel Corp. Nasdaq: INTC
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