| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Bed Bath & Beyond, Inc. > News item |
Carvana notes flat in active trade; Staples adds to gains; Michaels’ uptrend pauses
By Abigail W. Adams
Portland, Me., Jan. 17 – While the risk-on rally in broader markets wavered on Tuesday, the distressed debt space saw continued strength.
The S&P U.S. High Yield Corporate Distressed Bond index added another 0.30% on Tuesday with year-to-date returns now 6.88%.
While distressed debt credits have outperformed since the start of the year, the retail sector remains a mixed bag.
Bed Bath & Beyond Inc. and Party City Holdings Inc. are widely anticipated to file for bankruptcy protection in the coming weeks while other credits in the sector have soared since the start of the year.
Staples, Inc.’s 10¾% senior notes due 2027 (Caa2/CCC+) continued to add in active trade on Tuesday while the uptrend in other names in the sector paused or pulled back.
Michaels Cos., Inc.’s 7 7/8% senior notes due 2029 (Caa1/CCC) saw a minor pullback on Tuesday after a strong rally since the start of the year.
Meanwhile, Carvana Co.’s 10¼% senior notes due 2030 (Caa2/CCC) saw renewed attention on Tuesday on topical news.
While the company’s stock was on the rise following the news, the 10¼% notes were flat in active trade.
© 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.