Team Health steadies; Air Methods gains; Talen climbs; Telesat improves; Intelsat quiet

By Cristal Cody

Tupelo, Miss., Dec. 1 – Distressed debt names in the health care space held steady to higher in secondary action on Wednesday.

Team Health Holdings, Inc.’s 6 3/8% senior notes due 2025 (Caa3/CCC) were stable for a second day following the company’s court win Monday against UnitedHealthcare Inc.

Team Health’s 6 3/8% senior notes due 2025 (Caa3/CCC) were quoted flat at 88 bid.

Air Methods Corp.’s 8% senior notes due 2025 (Caa3/CCC) rallied 1 1/8 points to 79¾ bid.

Volatility remained high after the Centers for Disease Control and Prevention reported the first confirmed case of the Covid-19 Omicron variant in the United States.

The Chicago Board Options Exchange’s CBOE Volatility index jumped 14.45% to $31.12 after soaring 20.34% on Tuesday.

Talen Energy Supply LLC’s notes improved further ahead of the company’s earnings report on Thursday.

Talen’s 10½% senior notes due 2026 (Caa1/CCC/B-) jumped 2¼ points to 64 bid on more than $6.5 million of secondary supply, a source said.

Looking at satellite names, Telesat Corp.’s 6½% senior notes due 2027 (Caa1/B) were up about 1½ points at 79½ bid on Wednesday.

Intelsat Jackson Holdings SA’s 8½% senior notes due 2024 were last seen trading in the prior week at the 51 7/8 bid area.

© 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.