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Washington Prime flat; Consol, Peabody up; Transocean, PBF, Mallinckrodt, Endo decline
By Cristal Cody
Tupelo, Miss., May 19 – Washington Prime Group, LP’s 6.45% notes due 2024 (C/D/C) traded mostly flat over Wednesday’s session following Fitch Ratings’ downgrade.
The 6.45% notes due 2024 (C/D/C) headed out unchanged at 61 bid, a source said.
In the distressed oil and gas space, Transocean Inc.’s bonds fell about 1¾ points to over 2 points, a market source said.
The 6.8% notes due 2038 (C/CCC-/) were quoted down 1¾ points at 52 bid on more than $5 million of trading supply.
PBF Holding Co. LLC’s 6% senior notes due 2028 (B3/B+/B+) dropped more than 1½ points to the 75 bid range.
Distressed coal bonds traded mostly stronger on Wednesday and so far on the month, a source said.
Consol Energy Inc.’s 11% second-lien notes due 2025 (Caa1/CCC) added 1½ points to 98¼ bid on $3 million of paper traded.
St. Louis-based coal producer Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) were up 1 point at 57 bid.
In the distressed pharmaceuticals space, Mallinckrodt plc’s 5 5/8% notes due 2023 traded Wednesday at 62 bid, 2 points softer than where the issue was last seen on Monday, a source said.
Endo Finance LLC’s 6% senior notes due 2028 (Caa2/CCC+) fell 1¾ points to 72¾ bid during the session.
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