| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Rite Aid Corp. > News item |
Rite Aid mixed after tender kick-off; DISH drops; Talen higher; distress ratio climbs
By Cristal Cody
Tupelo, Miss., June 13 – Rite Aid Corp.’s bonds traded flat to about ¾ point lower on Monday after the pharmacy chain announced cash tender offers to purchase up to $150 million of its junk paper.
Rite Aid’s 7.7% senior debentures due 2027 (Caa2/CCC/CCC) were mostly unchanged from Friday at the 63¼ bid range, a source said.
Paper from DISH Network Corp., Carvana Co. and Coinbase Global, Inc. sold off on Monday with the issuers down about 3½ points to over 5 points, a source said.
DISH DBS Corp.’s 5¼% senior secured notes due 2026 (Ba3/B+) slid over 4 points to the 80 bid area on $15 million of trading volume on Monday.
The sell-off in stocks continued during the session after losses were sparked Friday following the Labor Department’s report that showed inflation in the United States had climbed to the highest level seen since 1981.
The VIX soared 25% on Monday as the markets wait for the Federal Reserve’s rate decision due Wednesday.
Bankrupt energy producer Talen Energy Supply LLC’s 6½% senior notes due 2025 (/D/C) improved 1 point on Monday to 66 bid, a source said.
In other activity on Monday, S&P Global Ratings said the U.S. distress ratio nearly doubled to 4.3% as of June 3, the highest since March 2020.
© 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.