CBL improves; Diamond Sports bonds mixed; Mallinckrodt up; Endo declines; PBF better

By Cristal Cody

Tupelo, Miss., May 24 – Bankrupt real estate investment trust CBL & Associates LP’s bonds climbed higher on Monday after softening on Friday.

CBL’s 5¼% notes due 2023 rose 1 1/8 points to 55 1/8 bid, a source said.

Hertz Corp.’s bonds were mixed as the company moves closer to exiting Chapter 11 bankruptcy.

Hertz’s 5½% notes due 2024 were unchanged from Friday at 103¼ bid, a source said.

Bankrupt pharmaceuticals maker Mallinckrodt plc’s bonds improved in light trading ahead of a court hearing on Wednesday on the company’s Chapter 11 bankruptcy disclosure statement.

The company’s 4¾% notes due 2023 rose about 1½ points from Friday to 23 bid.

Elsewhere in the distressed pharmaceuticals space, Endo Finance LLC’s 6% senior notes due 2028 (Caa2/CCC+) dropped 1¼ points to 70¼ bid on more than $5 million of trading volume during the session, a source said.

In other distressed secondary action on Monday, Diamond Sports Group LLC’s bonds were mixed.

Diamond Sports’ 5 3/8% senior secured notes due 2026 (B2/CCC+) fell about 1 point to 73½ bid.

In distressed energy issues, PBF Holding Co. LLC’s 6% senior notes due 2028 (B3/B+/B+) improved 7/8 point to 74 3/8 bid in light trading totaling $2 million.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.