E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 2/23/2022 in the Prospect News High Yield Daily.

Ukraine, Russia paper sinks; Rent-A-Center, Envision lower; Akumin, Mallinckrodt mixed

By Cristal Cody

Tupelo, Miss., Feb. 23 – The financial markets skidded lower by the close on Wednesday after Ukraine declared a state of emergency and fears of a Russian attack grew globally.

Kernel Holding SA’s paper plunged with the Ukrainian agricultural commodities company’s 6½% senior notes due 2024 (B+/BB-) quoted down 9½ points at 75 bid.

Ukraine steelmaker and miner Metinvest Group’s 7¾% senior notes due 2029 (B+/BB-) dropped over 8½ points to under the 61 bid area.

Moscow-based banking and financial services company PJSC Sberbank’s 5 1/8% subordinated notes due Oct. 29, 2022 (Ba1) slid 6 7/8 points to 90 bid.

Meanwhile, Rent-A-Center, Inc.’s 6 3/8% senior notes due 2029 (B1/B) dove over 10¼ points on Wednesday to 88½ bid after the company reported weak earnings, a source said.

Envision Healthcare Corp.’s 8¾% senior notes due 2026 (Ca/CC) fell 2¾ points to 47 bid.

Akumin Inc.’s 7% senior secured notes due 2025 (B2/B-) traded at the 87¾ bid area, down about 1½ points.

Air Methods Corp.’s 8% senior notes due 2025 (Caa2/CCC) also were not active after trading mostly flat on Tuesday at 79 bid.

Mallinckrodt plc’s 5½% senior notes due 2025 moved down 2½ points to 51 bid, a source said.


© 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.