Hexion notes mixed as interest payment looms; Weatherford issues also mixed post-earnings

By James McCandless

San Antonio, Feb. 4 – The distressed market saw mixed trading to start off the new week.

Hexion Inc.’s notes were mixed as an interest payment on its 2023 notes draws near and second-lien holders continue organizing.

In oil and gas, Weatherford International plc’s issues were also mixed a trading day after the company released Q4 earnings.

A negative day for oil futures led to mixed activity for California Resources Corp., PHI, Inc., and Sanchez Energy Corp.’s paper.

In the backdrop of two retail bankruptcies, Neiman Marcus Group, Inc.’s notes were on the rise while Revlon, Inc.’s issues ended mixed.

Utilities name PG&E Corp.’s paper continued to move lower post-bankruptcy.

Samarco Mineracao SA’s notes declined, snapping a positive streak.

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