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DISH bonds extend gains; Carvana higher after collapse of exchange offer; Bausch up
By Cristal Cody
Tupelo, Miss., June 2 – DISH Network Corp.’s bonds traded higher on Friday on anticipation the company will strike a deal with Amazon.com Inc., which is reportedly holding discussions with wireless carriers to bring mobile telephone services to Prime customers.
DISH DBS Corp.’s 7¾% senior notes due 2026 (B3/B-) rose over 2¾ points to the 61½ bid area on $5.7 million of volume, a source said.
The notes were quoted going out Thursday up more than 1½ points on $10.5 million of secondary supply.
DISH’s 5 1/8% senior notes due 2029 (B3/B-) were 4¾ points better with a 51 bid handle in light trading totaling $2.6 million on Friday.
Meanwhile, Carvana Co.’s 5½% notes due 2027 (Ca/C) traded 2¾ points better at 64¼ bid in fairly light activity on Friday after the company reported it terminated its exchange offer for five series of notes because of an unmet minimum, a source said.
Carvana’s issue had just $2 million of trading on Friday.
Bausch Health Cos. Inc.’s paper saw modest gains over the session, a source said.
Bausch’s 11% senior secured notes due 2028 (Caa1/CCC+/B) were ¼ point better by the afternoon at 75 bid on about $6 million of volume.
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