PetSmart (PETM) Debt Trading 1.5% Higher

An issue of PetSmart, Inc. (NASDAQ:PETM) debt rose 1.5% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 7.125% coupon and is set to mature on March 15, 2023. The bonds in the issue are now trading at $70.00 and were trading at $66.63 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

PetSmart, Inc. has a twelve month low of $55.00 and a twelve month high of $83.49.

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About PetSmart (NASDAQ:PETM)

PetSmart, Inc is a United States-based company, which is a pet retailer of services and solutions for the needs of pets. The Company provides a range of pet food and pet products. The Company offers dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp day care services and pet adoption services in-store.

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