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Rite Aid notes decline; Talen improves; GPS Hospitality edges up; At Home notes mixed
By Cristal Cody
Tupelo, Miss., April 18 – Distressed paper saw mixed reactions on Monday in mostly light post-Easter secondary trading.
Rite Aid Corp.’s notes gave back over 2 points in the first session back after the company reported heavy fourth-quarter losses on Thursday.
The company’s 8% senior secured notes due 2026 (B3/CCC/BB-) dropped over 2½ points to a print of 88.18 on $7 million of paper traded, a source said.
Talen Energy Supply LLC’s paper improved about 5/8 point to 1¾ points in light trading over the day.
The company’s 6½% senior notes due 2025 (C/CC/CCC) were quoted up 1¾ points at 34 5/8 bid on $2 million of volume.
Burger King and Pizza Hut franchise owner GPS Hospitality Holding Co. LLC’s 7% senior secured notes due 2028 (Caa1/B-/B-) improved about ¼ point to 77¼ bid on $7 million of secondary volume, a source said.
Home decor chain owner At Home Group Inc.’s paper remained strongly traded on Monday.
At Home’s 7 1/8% senior notes due 2029 (Caa1/CCC+) were mostly flat at 76¾ bid on secondary supply of $10 million, a source said.
The notes were seen trading in the short session on Thursday down over 6 points on $23 million of secondary volume.
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