Toys ‘R’ Us active again on possible U.S. asset liquidation buzz; iHeart activity spikes

By James McCandless

San Antonio, March 12 – Traders reported a slow Monday in the distressed debt market, attributing much of the low activity to volatility in equity markets.

Notes in Toys “R” Us, Inc. were active again on more reports that the company could liquidate its U.S. assets this week.

iHeart Media, Inc. paper saw activity after revising its restructuring plan to its shareholders and senior creditors.

Frontier Communications Corp. started the week strong as usual. Its issues have been active on a string of recent news, including new issues priced last week and shifting focus towards debt service.

More activity in the telecom space was attributed to Intelsat SA. Mallinckrodt plc and Community Health Systems, Inc. continue to split volume in the healthcare sector. Cobalt International Energy, Inc. and Northern Oil and Gas, Inc. saw some of the most active days in the energy sector.

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