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Caesars Entertainment, HubSpot convertibles weaken in trading; Ensco notes active
By Cristal Cody
Tupelo, Miss., Oct. 13 – Caesars Entertainment Corp.’s new convertible bonds remained actively traded on Friday.
The company’s 5% convertibles due Oct. 15, 2024 went out at 179.15 compared to where the bonds last traded on Thursday at 186.34, a source said.
Caesars Entertainment’s stock dropped 15 cents, or 1.22%, to close at $12.15.
Caesars Entertainment’s convertible bonds have traded heavily over the week, according to market sources.
The Las Vegas-based gaming and entertainment company exited Chapter 11 bankruptcy proceedings and announced on Oct. 6 that it has completed the merger with Caesars Acquisition Co. and finalized the restructuring of Caesars Entertainment Operating Co., Inc. and debtor subsidiaries.
As part of the restructuring it issued $1.12 billion of the convertibles.
In other trading on Friday, HubSpot Inc.’s 0.25% convertibles due June 1, 2022 fell more than 3 points to close at 109.08, a market source said.
HubSpot’s shares dropped $3.05, or 3.57%, to close the day at $82.40.
The company announced on Friday that it will release its third quarter earnings results on Nov. 1.
Ensco plc’s 3% convertible senior notes due Jan. 31, 2024 were active on Friday but modestly weaker earlier in the day at 84.34, a source said.
The London-based offshore drilling company’s subsidiary, Ensco Jersey Finance Ltd., sold $650 million of the bonds in a private placement offering on Dec. 6, 2016.
Ensco’s shares closed up 21 cents, or 3.95%, to $5.53.
The company announced on Oct. 6 it had completed its acquisition of Atwood Oceanics, Inc.
Mentioned in this article:
Caesars Entertainment Corp Nasdaq: CZR
Ensco plc NYSE: ESV
HubSpot Inc. NYSE: HUBS
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