Community Health trades as it revises near-term notes; Sears active on exchange results

By James McCandless

San Antonio, March 21 – Traders reported another slow day in trading in the distressed debt market Wednesday.

Community Health Systems, Inc. notes were active again in a strong showing for the week. The company announced Wednesday that it intends to refinance its 2019 and 2020 bond maturities.

Issues in Sears Holdings Corp. came alive as it announced the results of a private exchange of a portion of several.

Frontier Communications Corp. continues to dominate trading in the distressed telecom sector, bolstered by recent positive news.

Intelsat SA contributed more volume in the telecom space. Mallinckrodt plc made up for some of the volume in healthcare. Amid another upswing for oil futures, Northern Oil and Gas Inc. and Ensco plc drove much of the activity in the distressed energy sector.

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