Community Health active; Vanguard Natural continues losses after Chapter 11; Neiman down

By Colin Hanner

Chicago, Feb. 6 – The weekend did not do much to change the trend in the distressed debt market as of late, with several issues trading tight from their starting handles on Monday.

That included Community Health Systems, Inc., whose most popular distressed security was one of the more active issues of the day though was up only marginally, a trader said.

A trader said the Franklin, Tenn.-based Community Health Systems’ 6 7/8% notes due 2022 were one of the most active issues of the session, though traded without much movement.

The notes were up 1/8 point to 73 7/8, the trader said.

Pharmaceutical company Valeant Pharmaceuticals International, Inc. followed with a gain.

Vanguard Natural Resources, LLC, which filed for Chapter 11 protection last week, continued to fall in one of its issues, the second-straight session of losses.

Again lacking in volume but changing wildly were a set of Peabody Energy Corp.’s unsecured securities as more news continued to come out of a litigious reorganization period for the bankrupt coal company.

Retailer Neiman Marcus Group, Inc. saw a reoccurring loss in a set of notes as the consensus of traditional retailers continues to be one of negative outlook.

A set of iHeartCommunications, Inc.’s notes were down on the day, GenOn Energy Inc. was one of the day’s biggest losers and several one-off names that have traded recently were not far from where they started.

© 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.