Bon-Ton Debt Rises to Four-Month High as CEO Projects Profit
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Bon-Ton Stores Inc.’s bonds rose to the highest in four months as the retailer projected that it would generate as much as $70 million of cash this year.
Bon-Ton’s $480 million of 10.25 percent notes due in March 2014 rose 5.8 cents to 72.8 cents on the dollar to yield 29.1 percent as of 2:02 p.m. in New York, the highest price since November, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. There were 48 trades of at least $1 million of the security today, the most of any U.S. bond, Trace data show.