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Bankrupt Bed Bath & Beyond bonds decline; WeWork shows gains; WW International better
By Cristal Cody
Tupelo, Miss., April 24 – Bed Bath & Beyond Inc.’s bonds declined about 1½ points to 3 points on Monday, while its stock dropped to 18 cents following the retailer’s Chapter 11 bankruptcy filing the previous day.
The 5.165% notes due 2044 (C/D) fell 1½ points to 4 bid by the close on $7.41 million of trading, a source said.
The retailer’s 4.915% senior notes due 2034 (C/D) were quoted at 4 1/8 bid on $5 million of secondary activity on Monday.
WeWork Inc.’s 7 7/8% senior notes due 2025 (CC) gave back more than 1½ points to 1¾ points in trading Monday, but the issue remained about 10 points better than the same session a week ago, a source said.
The notes went out at 53¾ bid on about $4 million of trading.
In other distressed paper, WW International Inc.’s 4½% senior secured notes due 2029 (B1/B) climbed 1½ points on Monday and have gained about 10 points since the company announced April 10 that it closed on its acquisition of a telehealth provider, a source said.
The notes were quoted at 63½ bid on $3.9 million of secondary volume.
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