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Enviva bonds hit 50s handle; Staples up; Qurate Retail mixed; Glatfelter declines
By Cristal Cody
Tupelo, Miss., Nov. 30 – Enviva Partners, LP’s 6½% senior notes due 2026 (Caa2/CC/CC) broke a 50 bid handle on Thursday in heavy trading after the issue rallied over 3 points, a source said.
The notes went out 3¼ points higher at 50½ bid on $16.8 million of volume.
Staples Inc.’s 10¾% senior notes due 2027 (Caa2/CCC) continued to gain on Thursday and climbed 2 7/8 points to 65 1/8 bid on nearly $15 million of trading, a source said.
Staples’ credit default swap spreads also came in more than 500 basis points this week.
Qurate Retail Inc.’s paper was softer on Thursday, while its CDS spreads improved more than 100 bps over the week.
Qurate Retail's 8¼% senior notes due 2030 (Caa2/CCC-) fell ½ point to 40½ bid on about $4 million of activity, a source reported.
Elsewhere, Glatfelter Corp.’s CDS spreads were the softest among corporates over the past week and crept closer to 1,000 bps.
Glatfelter’s 4¾% senior notes due 2029 (Caa1/CCC) went out flat on the day and about 1 point lower on the week at 61½ bid, a source said.
The company’s CDS spreads widened more than 250 bps this week.
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