Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for CenturyLink, Inc. > News item |
PetSmart pummeled on Chewy spinoff fears; CenturyLink climbs as deal boosts shares
By Paul Deckelman
New York, Dec. 11 – PetSmart, Inc.’s several issues of bonds were the big losers on Monday, according to traders in distressed debt and in the bonds of otherwise underperforming companies and industry sectors.
They cited news reports indicating that the embattled retailer could spin off the company’s potentially lucrative Chewy online pet supplies business in order to pay a dividend to its private-equity sponsors.
Elsewhere, wireline telecommunications operator CenturyLink, Inc.’s issues firmed smartly, in line with a surge in the company’s stock driven by the news that it had signed a big contract with the state of Pennsylvania.
Valeant Pharmaceuticals International Inc.’s recently priced megadeal continued to firm smartly in active trading on Monday, a week after it came to market. The Canadian drug manufacturer’s existing issues were also seen better on busy volume.
© 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.