Ensco Rowan gains after gaining consents; Hexion drops as debt approved

By James McCandless

San Antonio, June 10 – As a new week started in the distressed space, trading was focused on several news-making names.

Ensco Rowan plc’s notes were gaining as the company announced that it received consents to amend five series of Rowan notes.

Sector peer Covey Park Energy LLC’s issues moved lower after news broke of an acquisition by Comstock for $2.2 billion.

Despite lower oil futures, California Resources Corp.’s and Weatherford International plc’s paper improved.

Elsewhere, Hexion, Inc.’s existing notes fell after the company received court approval to commit to $2 billion in new debt.

In telecom, Frontier Communications Corp.’s issues were trending upward in the aftermath of new board appointments.

Intelsat SA’s paper finished mixed.

Retailers L Brands, Inc.’s and Neiman Marcus Group, Inc.’s notes were both mixed.

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