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"Prices are more sensitive to fundamental risks because the coupon is so low", Okada said today at a media briefing held by the Dallas-based hedge fund, which manages about $23 billion. Highland is cutting back on debt it deems to be sensitive to this type of risk, Okada said. [Extracted from the article]

Bond investors snapped up Twitter's offering at rates lower than a five-year industry average, rewarding the company with funds to back acquisitions and to pay for an expansion. Twitter's stock has averaged $46.58 per share since the company raised $1.82 billion in an IPO on Nov. 6 at a price of $26 per share, Bloomberg data show. Twitter's five-year bond coupon was marketed by lead banks Goldman Sachs and Morgan Stanley between 0 percent and 0.5 percent, and the seven-year offering between 0.75 percent and 1.25 percent, said the people, who asked not to be identified because they lacked authorization to speak publicly. [Extracted from the article]

The 8.5 percent notes that mature Oct. 1, 2022, were priced to yield 687 basis points more than similar-maturity Treasuries, Bloomberg data show. Bighorn marks Apollo's second energy deal in Canada this year. [Extracted from the article]

UBS AG is working with Standard General LP on loans for RadioShack Corp., bringing another potential ally to the electronics retailer as it tries to avert bankruptcy, according to three people with knowledge of the matter. The success of a rescue package depends on whether creditors including Salus Capital Partners LLC will agree to terms that would allow RadioShack to shutter additional stores, the people said. RadioShack creditors had blocked a plan to shut 1,100 stores earlier this year, forcing the retailer to limit the closings to as many as 200 instead. [Extracted from the article]

The $605 million of loans to Deluxe Entertainment Services Group Inc., which Perelman controls through his MacAndrews & Forbes Holdings Inc., were quoted at 88 cents on the dollar Aug. 26, according to Markit. In 2013, Perelman's private-equity firm invested $59 million in the company through a bridge loan to help it transition to digital, according to a marketing document for the $605 million term loan obtained by Bloomberg News. [Extracted from the article]

Endeavour International Corp., the North Sea energy explorer and producer that decided not to make an interest payment on its bonds this week, is seen buying itself time for revenue from new fields to pick up before it runs out of cash as soon as January. As production develops at Endeavour's projects in the U.K., earnings may increase to a level that would give the energy company sufficient cash flow to service its debt, according to Pibl. [Extracted from the article]

The company's $402.9 million of 12 percent first-lien notes maturing March 2018 dropped 2.8 cents to 88.2 cents at 10 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. Endeavour said late yesterday it wouldn't pay interest on three bonds, including the 12 percent securities, and entered a 30-day grace period to negotiate with creditors, according to a statement from the Houston-based company. [Extracted from the article]

Endeavour International Corp. skipped interest payments on three bonds totaling $33.5 million due today and entered a 30-day grace period to negotiate with creditors before triggering a potential default, according to a company statement. If the company fails to make the payments by the end of the grace period, creditors could require an accelerated repayment of the debt, according to the company statement. [Extracted from the article]

Fresh cash from a more diverse group of investors may make it easier for Fort Worth, Texas-based RadioShack to implement its turnaround plan, which includes closing stores, to mitigate nine straight quarters of losses. A refinancing of the loan "will buy the retailer more operating flexibility", Noel Hebert, an analyst at Bloomberg Intelligence, wrote in a report yesterday. [Extracted from the article]

RadioShack Corp. is talking with shareholder Standard General LP about getting a rescue financing package that could help the retailer stave off a bankruptcy filing, two people with knowledge of the matter said. RadioShack creditors had blocked a plan to shut 1,100 stores earlier this year, forcing the retailer to limit the closings to as many as 200 instead. Magnacca has been remodeling RadioShack stores and revamping its product lineup in a bid to shed its reputation as a throwback to 1980s shopping malls. [Extracted from the article]

Bonds of NII Holdings Inc., the mobile-phone carrier that missed an interest payment last week, are trading at almost twice an estimated recovery value as creditors position themselves for a restructuring. "The further reduction in the recovery rate on the senior notes was driven by lower-than-expected recoveries from the Argentina and Chile assets and the reduction in towers", said Steinfeld. [Extracted from the article]

NII's 8.875 percent notes, issued by its NII Capital Corp. unit, rose 1.25 cents on the dollar to 30.3 cents yesterday, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. Aurelius said in a March 4 letter to the company that it held more than 25 percent of NII Capital Corp.'s 8.875 percent notes due December 2019 and a "significant percentage" of the unit's 10 percent securites due August 2016. [Extracted from the article]