CommScope ‘mowed’ in secondary; Anywhere Real Estate pressured; Community Health lower

By Cristal Cody

Tupelo, Miss., Oct. 31 – CommScope Holding Co., Inc.’s paper eroded further on Tuesday after plunging on Monday on the company’s pessimistic preliminary third-quarter report.

“CommScope is definitely getting mowed again today,” a trader said.

The company’s 6% senior notes due 2025 (Caa1/CCC+) were down more than 11 points on $90.58 million of paper traded following a drop of 15¼ points on Monday.

The notes went out at 61 bid, 63 offered.

CommScope, Inc.’s 8¼% senior notes due 2027 (Caa1/CCC+) slid more than 10 points to 41½ bid, 42½ offered by Tuesday’s close.

First Quantum Minerals Ltd.’s paper remained volatile a second session, a source said.

The 8 5/8% senior notes due 2031 (//B+) went out at 83 bid, 84 offered, down from 89 bid, 90 offered on Monday and 95 bid, 96 offered on Friday.

Anywhere Real Estate Inc.’s paper also saw pressure over the session after S&P Global Ratings downgraded the issuer and following a Kansas City, Mo., jury ruling against the National Association of Realtors, sources reported.

The 5¾% senior notes due 2029 (B3/CCC+) dropped about 5 points to 61½ bid, 62½ offered.

Elsewhere, Community Health Systems Inc.’s 6 1/8% senior secured notes due 2030 (Caa2/CCC-) traded down 1¾ points over the morning and dropped 2 1/8 points by the afternoon to 38¾ bid in light trading, a source said.

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