Noble gains on new deal, other energy names struggle; hospitals higher, Frontier firms

By Paul Deckelman

New York, Jan. 17 – The new high-yield bond deal from global offshore energy driller Noble Corp. made the company’s several series of existing notes popular on Wednesday, pushing those issues up.

But new and existing notes from drilling-sector peers such as Nabors Industries, Inc. and Ensco plc failed to keep pace.

And energy credits generally such as California Resources Corp. and EP Energy Corp. were unchanged to lower despite gains in crude oil prices.

Elsewhere, hospital operators such as Community Health Systems Corp. and Tenet Healthcare Corp. firmed smartly in active dealings.

Frontier Communications Corp. paper improved for a second consecutive session. But communications satellite operator Intelsat SA’s paper traded off.

In the convertibles market, Exact Sciences Corp.’s recently priced notes got hammered in active trading as the biotech firm’s underlying shares tanked in response to a positive clinical trial from a Taiwan-based competitor.

© 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.