PetSmart paper, existing Mattel notes rebound; Valeant gains, Fresh Market falters

By Paul Deckelman

New York, Dec. 18 – Investors in distressed debt and the bonds and notes of otherwise underperforming companies and sectors saw upside activity on Monday in two names that had gotten kicked around for most of last week.

PetSmart Inc., whose paper has lately taken a pounding, was seen on the rebound on Monday, though there seemed to be no fresh news out on the specialty retailer.

Mattel Inc.’s recently beleaguered existing bonds – hurt by a multiple ratings downgrade the major agencies laid on the big toy manufacturer – were also higher on Monday.

There meantime was solid upside movement on very heavy volume in the latter company’s newly priced eight-year bond deal.

Elsewhere, the debt-laden Canadian drugmaker Valeant Pharmaceuticals International Inc.’s recently priced eight years were firmer on the day.

But supermarket operator Fresh Market, Inc.’s paper slid.

© 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.