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CURO gains steam; Laredo, Callon pare losses; Endo up on settlement news; primary quiet
By Paul A. Harris and Abigail W. Adams
Portland, Me., July 20 – For the second consecutive session the dollar-denominated high-yield new issue market put up a goose egg on Tuesday
Meanwhile, the secondary space saw a strong rebound with the market up about ¼ point after Monday’s rout.
CURO Group Holdings Corp.’s 7½% senior secured notes due 2028 (B3/B-) remained active with the notes improved alongside the broader market.
Energy names, which bore the brunt of Monday’s sell-off, staged a modest rebound as crude oil futures improved.
Laredo Petroleum, Inc.’s 7¾% senior notes due 2029 (B3/B) pared their losses from the previous session with the notes regaining 2 points.
Callon Petroleum Co.’s 8% senior notes due 2028 (Caa2/CCC+) also attempted a rebound although the notes remained well below their previous level.
Endo Finance LLC’s 6% senior notes due 2028 (Caa2/CCC+) surged on Monday on news about a proposed settlement with Tennessee.
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