Hexion sell-off continues; Acosta dips; Simmons Food eyed; Tesla jumps

By Abigail W. Adams

Portland, Me., Oct. 25 – Hexion Inc. remained in focus in the distressed debt space with its first and second lien issues continuing their downward spiral as creditors gear up for a fight and the chemical sector in general remains under pressure.

Acosta, Inc.’s 7¾% senior notes due 2022 dipped slightly in active trading although no news appeared to be connected to the movement.

Distressed debt players were eyeing Simmons Foods Inc.’s 5¾% senior notes due 2024. While firming on Thursday, the notes dropped to a new low after missing their numbers.

Tesla Inc.’s 5.3% senior notes due 2025 were major volume movers with the notes jumping 2½ points after the electric car manufacturer crushed analyst expectations in its third-quarter report.

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