| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Caesars Entertainment Corp. > News item |
Oil and gas, coal bonds weaken as oil price drops; Colt Defense volatile as coupon looms
By Stephanie N. Rotondo
Phoenix, Nov. 13 – The distressed debt market was again focusing on the oil and gas arena Thursday, as oil prices declined further.
“It was the same-old-same-olds down with oil down again,” a trader said.
West Texas Intermediate oil prices fell $2.76, or 3.58%, to $74.42 per barrel. Brent crude dropped $2.46, or 3.06%, to $77.92.
As oil prices continued to falter, oil and gas names were under pressure yet again.
Coal was also under pressure.
Colt Defense LLC meantime dropped and then rebounded as concerns of a default worried investors. Moody’s Investors Service also cut its rating on the company in response to a Form NT 10-Q filing on Wednesday, which stated that net sales could fall about 25% year over year.
In other recently topical names, Caesars Entertainment Corp. was “mildly active,” a trader said, seeing the 10% notes due 2018 rising slightly to 14½. The 10¾% notes due 2016, however, were down a point at 15¼, he said, and the 12¾% notes due 2018 closed up half a point at 17.
Another market source pegged the 10% notes at 14¼ bid, up 1¼ points.
NII Holdings Inc.’s 7 5/8% notes due 2021 were meantime seen a quarter-point weaker at 21¾.
© 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.