Coal remains weak; Caesars ends mixed; NII Holdings' debt pops; RadioShack keeps creeping up

By Stephanie N. Rotondo

Phoenix, May 29 - Distressed debt investors continued to focus on a handful of names in Thursday trading.

Once again, "some coal names were under pressure," a trader said.

He saw Arch Coal Inc.'s 7¼% notes due 2021 falling more than 2½ points to 711/2, while the 7% notes due 2019 dropped over 2 points to 741/2.

Alpha Natural Resources Inc.'s 6¼% notes due 2021 were meantime off a point at 70, he said.

Another market source pegged that issue at 70½ bid, down a point.

At another desk, a trader said Walter Energy Inc.'s 11% PIK notes due 2020 were "lower again," trading in a 76 to 77 context.

Caesars Entertainment Corp., NII Holdings Inc. and RadioShack Corp. were also in play on Thursday.

A trader said Caesars' 10% notes due 2018 were unchanged around 43. The 9% notes due 2020 were also unchanged, at 781/4.

However, both the 8½% notes due 2020 and the 11¼% notes due 2017 inched up. The former issue put on almost a point to close around 71/2, as the latter bonds ended "just up a shade" at 871/4.

NII, RadioShack jump

In NII Holdings' debt, the 10% notes due 2016 popped up over 3 points, finishing around 313/4, according to a trader. The 7 5/8% notes due 2021 gained a deuce to close around 28 1/8.

And, RadioShack's upward climb continued, as a trader pegged the 6¾% notes due 2019 at 49, up 4 points on the day.

A second trader also placed the issue around 49, deeming the debt up 4 to 5 points from the previous session.

© 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.