LEVFIN SNAPSHOT: Casino Guichard Bonds Gain, Codere Declines
2020-09-23 13:20:28.349 GMT
By Libby Cherry
(Bloomberg) — Bonds issued by Casino Guichard rose to
their highest level since late July after the French supermarket
operator said Tuesday it bought back debt in the secondary
market.
* Co. canceled EU67.5m of notes due 2022 and EU93.8m of bonds
due 2023
** Casino’s notes due Jan. 2023 rose ~1.6 cents on the euro to
94.4, according to data compiled by Bloomberg,
* Codere’s EU500m bond due Nov. 2021 fell 4 cents on the euro to
the lowest since June
** Concern about a rising coronavirus toll in key markets for
the Spanish gaming firm such as Argentina may explain the
decline, Joan Sehim, a credit analyst at Spread Research, said
by email
* Garrett Motion’s EU350m notes due Oct. 2026 jumped 2.7 cents
to 94, their highest since late Feb.
** NOTE: Auto-parts maker said Sept. 20 it planned to sell
itself to KPS Capital Partners after filing for bankruptcy in
New York
*** Co.’s debt rating was cut to Caa1 from B2 by Moody’s
Investor Service Wednesday following the bankruptcy filing
* Amigo Loans’ GBP234m notes due Jan. 2024 rose 0.6 pence on the
pound to 60.6, their highest since June
** NOTE: Standard & Poor moved Amigo Loans to negative
CreditWatch Tuesday, citing uncertainties about complaints
provisions, asset quality and strategic direction
** NOTE: A spokesperson for Amigo didn’t immediately respond to
a request for comment
* The Markit iTraxx Europe Crossover Index tightened ~10.3bps to
~321.4bps