Denbury notes lose as company justifies merger; Mattel issues weaken at top of retail space

By James McCandless

San Antonio, Dec. 21 – At the end of the week, distressed trading was moderate as the end of 2018 approached.

Denbury Resources Corp.’s notes were losing after the company filed a document with the Securities and Exchange Commission outlining its reasoning for a merger with Penn Virginia.

Ultra Petroleum Corp.’s issues traded down as the company agrees to a swap of $780 million in notes.

As oil futures go south another day, California Resources Corp.’s bellwether paper was mixed while Whiting Petroleum Corp.’s notes declined.

Meanwhile, in retail, Mattel, Inc.’s issues were weaker as market scrutiny over holiday sales increases.

Sector peer L Brands, Inc.’s paper fell while Revlon Inc.’s notes finished mixed.

In the telecom space, Cincinnati Bell Inc.’s and Intelsat SA’s issues saw a decline.

© 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.