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Rite Aid mostly higher; Anywhere Real Estate bonds climb; Level 3, Lumen improve
By Cristal Cody
Tupelo, Miss., Oct. 24 – Distressed trading remained strong in Rite Aid Corp. paper Tuesday.
Rite Aid’s 8% senior secured notes due 2026 (/D/CC) picked up 1/8 point to 71 1/8 bid in fairly active trading that hit $12 million, a source said.
The bankrupt retailer’s 7½% senior secured notes due 2025 (/D/CC) fell ¾ point in thin supply of $1 million over the session.
Anywhere Real Estate Inc.’s paper climbed Tuesday after the company posted a jump in third-quarter earnings.
Anywhere Real Estate Group LLC’s 5¾% senior notes due 2029 (B3/B-) rocketed up 3¾ points to 67¾ bid on more than $12 million of secondary volume, a source said.
The company’s 5¼% senior notes due 2030 (B3/B-) also were over 3 points better at around 65¼ bid, up from 62 bid on Monday, on over $7 million of trading.
Level 3 Financing, Inc.’s paper was moving higher in lighter activity in the secondary market over the session.
Level 3’s 4 5/8% senior notes due 2027 (B3/CCC+/B) rose ½ point to 66¾ on $6.25 million of volume, a source said.
Parent Lumen Technologies, Inc.’s 4% senior secured notes due 2027 (Caa2/B) also were up ½ point at 65¼ bid on $4 million of trading Tuesday.
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