| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for Bausch Health Cos. Inc. > News item |
Altice soft on week with paper central in distressed trading; secondary ‘busier’
By Cristal Cody
Tupelo, Miss., April 18 – Altice France Holding Restricted Group continued to dominate secondary action in the distressed market on Thursday with the name attracting more than $70 million of volume across six bonds, a chunk of the $200 million overall supply reported during the session.
Altice France Holding SA’s 10½% senior notes due 2027 (Ca/CCC-) recovered 1 point to trade at 39¼ bid, down from 41¾ bid in the same session last week, a source said.
Overall distressed trading supply ramped up on Thursday from $170 million in the prior session, $180 million on Tuesday and $171 million on Monday.
“It is on the busier end of the range,” a trader said. “Yields are up. People are focused on new issues.”
Distressed bonds overall were seen mostly lower by the end of the day, including paper from Bausch Health Cos. Inc.
Bausch’s 11% senior secured notes due 2028 (Caa1/CCC+/B) fell ½ point to 75¾ bid following a ratings upgrade after it staved off a patent drug challenge.
The bonds have declined from where the issue was quoted in the same session a week ago at 77½ bid.
The 6 1/8% senior secured notes due 2028 (Caa1/B-/B) also slipped ¼ point to 71½ bid, down from 73¾ bid in the week-ago session.
© 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.