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...
by Amruth Sundarkumar | Jan 6, 2023 | Distressed / Defaulted Bonds
Bed Bath and Beyond’s bonds dropped sharply with its 3.749% 2024s down over 13 points to 10 cents on the dollar, as the company warned of filing for bankruptcy, debt restructuring or asset sales. It added that the measures taken “may not be successful.”...
by Amruth Sundarkumar | Nov 15, 2022 | Credit Ratings, Distressed / Defaulted Bonds
Following its downgrade last month, S&P has again downgraded Bed Bath & Beyond’s (BBBY) issuer rating from CC to SD (selective default) and lowered its issue ratings for its 2024, 2034 and 2044 notes from CC to D. The downgrades follow BBBY’s announcement of...
