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Cano, Community Health, Bausch mixed; Rite Aid bonds improve; WeWork notes move higher
By Cristal Cody
Tupelo, Miss., April 17 – The health care space stayed under pressure on Monday with a range of news from several issuers.
Cano Health LLC’s 6¼% senior notes due 2028 (Ca/CCC) remained quiet after the company issued a strongly-worded letter to shareholders, a source said.
The bonds went out Friday more than 5 points higher on the week with a 58 bid handle.
Community Health Systems Inc.’s bonds were mixed, while the 6 1/8% notes due 2030 (Caa2/CCC-) were up ¾ point at 65¾ bid after climbing 3 points on Friday, a source said.
Bausch Health Cos. Inc.’s 6¼% notes due 2029 (Ca/CCC-) traded more than 1 point higher around the 42 bid area on thin activity.
Rite Aid Corp.’s paper improved about 1 point to 1½ points ahead of the company’s earnings release later in the week, a source said.
Rite Aid’s 7½% senior secured notes due 2025 (Caa3/CCC-) rose 1½ points to 61 bid on $1.24 million of volume.
WeWork Inc.’s 7 7/8% senior notes due 2025 (CC) gained 3 points to hit 43 1/8 bid in light trading after the company announced the early tender results for its debt exchange offers and filed a prospectus supplement to issue new class A common stock and warrants, a source said.
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