by Amruth Sundarkumar | Feb 23, 2023 | Distressed / Defaulted Bonds
Bed Bath & Beyond’s dollar bonds were higher by over 2 points after the distressed American retailer said that it will pay its overdue coupons due to bondholders on February 28. The retailer has been under a grace period since it missed those payments. Bed...
by Amruth Sundarkumar | Feb 8, 2023 | Distressed / Defaulted Bonds
Bed Bath & Beyond’s bonds jumped after the distressed retailer staved off bankruptcy with a $225mn share placement. It added that it may get another $800mn over the next 10 months in order to avoid bankruptcy. Sources said that Hudson Bay Capital Management...
by Amruth Sundarkumar | Jan 13, 2023 | Distressed / Defaulted Bonds
Bed Bath & Beyond is said to be in talks with potential lenders that would finance the company during bankruptcy proceedings, as per sources. As per Business Times, one of the options includes a possible ‘stalking horse’ bid, where the lender would...
by Amruth Sundarkumar | Jan 11, 2023 | Distressed / Defaulted Bonds
Bed Bath and Beyond reported a wider-than-expected quarterly loss, with sales dropping sharply. Its net losses for the quarter ended November 26 stood at $393mn from $276.4mn a year prior, including a $100.7mn impairment charge. Net revenues were down 33% YoY to...
by Amruth Sundarkumar | Jan 10, 2023 | Credit Ratings, Distressed / Defaulted Bonds
Bed Bath & Beyond was upgraded to CC from SD by S&P after its distressed debt exchange was terminated as the conditions of the offer were not satisfied. Thus, now $215mn of the company’s senior notes due August 2024 remain outstanding, alongside other...
