| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Glatfelter Corp. > News item |
Lumen paper drops; Glatfelter up; CommScope mixed; November distressed returns strong
By Cristal Cody
Tupelo, Miss., Dec. 1 – Lumen Technologies, Inc.’s and Level 3 Financing, Inc.’s bonds came under pressure in the secondary market on Friday.
Lumen’s 4% senior secured notes due 2027 (Caa2/B/B-) traded down around ¼ point to the 53¼ bid area on nearly $6 million of volume, a source said.
Level 3 Financing’s 4¼% senior notes due 2028 (B3/CCC+/CCC+) were down more than 1¼ points on the day at the 34¼ bid area on $4 million of activity.
The bonds have given back more than 5 points since the start of the week.
Level 3’s 3 5/8% senior notes due 2029 (B3/CCC+/CCC+) dropped 1½ points to just under 34¼ bid on Friday. Trading reached $4 million in the issue.
Glatfelter Corp.’s 4¾% senior notes due 2029 (Caa1/CCC) picked up 1 point in fairly active afternoon trading that topped $5 million, a source said.
The bonds were quoted at 62¼ bid.
Elsewhere, CommScope Holding Co., Inc.’s paper traded mostly lower.
The 6% senior notes due 2025 (Caa2/CCC-) fell ¾ point to 78 bid, according to a market source.
Trading totaled $3.5 million.
S&P U.S. High Yield Corporate Distressed Bond index month-to-date total returns ended November at 4.1% on Thursday, the highest since June and up from October’s returns of minus 6.17%.
© 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.