CommScope Bonds, Shares Fall After 3Q Report, Debt Deal Failure

CommScope Holding Co. bonds and shares dropped Thursday after the company released third-quarter results and said it yet to reach debt refinancing or recapitalization agreement with a group of creditors.

Shares slumped as much as 32%, the most since February, to $4.76. A CommScope bond due in 2028 dropped 2.75 cents to 85.5 cents on the dollar, according to data provider Trace.

The telecommunications infrastructure company said in a Thursday filing that it had been negotiating with an ad-hoc group of bondholders to address debt due in 2025 and 2026 and was studying options for a broader refinancing of ...