Sanchez Energy notes trade down, leading Monday volume; Murray Energy issues decline

By James McCandless

San Antonio, July 23 – The distressed debt market started the week with volume focused on names with recent news attached to them.

Sanchez Energy Corp. notes fell to start the week, leading trading. The company’s chief operating officer recently resigned.

Murray Energy Corp. issues slipped. Last week, the company’s chief executive officer called for less government involvement in energy markets.

American Tire Distributors paper improved. The company has recently tried to settle investor worries after two major tire companies ended distribution deals with the company.

Intelsat SA notes were mixed. A recent move by the Federal Communications Commission could lead to a potential revenue stream for satellite firms.

Frontier Communications Corp. issues fell. The company’s chief financial officer recently announced his resignation.

Mallinckrodt plc paper declined in the medical space.

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