Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Sprint Corp. > News item |
Occidental sinks on downgrade; Tesla active; Charter mixed; funds lose $2.9 billion
By Paul A. Harris and Abigail W. Adams
Portland, Me., March 19 – The domestic high-yield primary market remained shuttered on Thursday as the turmoil continued in the secondary space.
While the primary market has been closed since March 4, there may be business on the horizon with T-Mobile USA Inc.’s announcement that it is financially prepared to close its merger with Sprint Corp. with commitments for bridge loans still expected to be honored.
Meanwhile, credit markets continued to struggle on Thursday with spreads widening even as equities rallied and crude oil futures recouped their losses from the previous session.
Occidental Petroleum Corp.’s senior notes were in focus and plummeted on Thursday after the oil producer became the latest fallen angel to enter junkbondland.
Tesla Inc.’s 5.3% senior notes due 2025 were volatile in active trading with the notes closing the day with gains.
Charter Communications Inc.’s senior notes remained active on Thursday with some gaining and others losing.
Meanwhile, high-yield mutual and exchange-traded funds continued to hemorrhage cash with $2.9 billion leaving the space for the week ending on Wednesday, according to Refinitv Lipper US Fund Flows.
© 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.