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Endo, Mallinckrodt higher; Evergrande mixed; Greenland, Fantasia quiet; Peabody gains
By Cristal Cody
Tupelo, Miss., Oct. 1 – Endo International plc’s bonds continued to improve on Friday on the heels of its latest opioid-related lawsuit.
Endo Finance LLC’s 6% senior notes due 2028 (Caa3/CCC+) were quoted up about 1½ points at 73 bid and going out 6 points better on the week.
Mallinckrodt LLC’s bonds backed off of heavy losses seen midweek with the 5¾% notes due 2022 up 1 point to 50¾ bid by the close, a source said.
Secondary action in China’s property developer dollar bonds mostly quieted Friday.
China Evergrande Group’s 8¾% senior notes due 2025 (C/C/C) recovered ½ point to 24¼ bid, a source said.
Paper from Greenland Global Investment Ltd.’s and Fantasia Holdings Group Co. Ltd. was not active during the session.
In other distressed issues, Ahern Rentals, Inc.’s 7 3/8% second priority senior secured notes due 2023 (Caa2/CCC+) also quieted on Friday after climbing 1 point on $6 million of paper traded on Thursday, sources said.
The notes were last seen at 95¾ bid and yielding over 10%.
Peabody Energy Corp.’s 8½% senior secured notes due 2024 (Caa1/CCC-) were among the day’s gainers with the notes up 3 points at 90 bid on Friday.
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