Mallinckrodt agreed on Friday to principal, non-binding terms with certain purchasers to issue $650 million in new first lien senior secured notes.

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Bombardier’s 6% unsecured 2028 bonds fall as much as 2.5 cents on the dollar to 78 cents, setting another intraday record low and pushing the yield deeper into double-digit territory. The bonds, which debuted back in August and traded at par as recently as January, have lost ground almost every day since the start of April.

Latam Airlines Group SA’s bankruptcy exit proposal should be struck down because it’s an extreme example of the so-called lender-on-lender violence running rampant in credit investing, a lawyer for a group of aggrieved money managers said Friday.

Bausch Health Cos. debt continued to tumble this week, with creditors fretting that cash will dry up as drug patents expire, asset sales fall short and prospects for a costly legal defeat mount.

The US institutional leveraged loan default rate stands at just 0.50% year-to-date despite the slight pickup over the past six weeks, but it’s expected to increase as higher interest rates, inflation and weaker growth take their toll, Fitch Ratings said in a report Friday.

Puerto Rico’s federally appointed oversight board praised local officials for hammering out a deal with the US Treasury that’s expected to bring stability and certainty to local corporations and manufacturers, and guarantee the flow of more than $1 billion in tax revenue