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CommScope pulls back from gains; QVC, Qurate Retail notes rally; Level 3, Lumen soft
By Cristal Cody
Tupelo, Miss., Nov. 3 – CommScope Holding Co., Inc.’s notes eased off the gas on Friday after Thursday’s climb with some of the paper trading down less than 1 point and going out more than 10 points lower on the week.
CommScope Technologies LLC’s 6% senior notes due 2025 (Caa1/CCC+) slipped ¾ point to 71¾ bid on $9.57 million of trading, a source said.
Distressed secondary supply was strong on Friday on more than $421 million of volume headed into the close.
“Everything is up,” a trader said.
Bonds from QVC Inc. and parent Qurate Retail Inc. rallied.
Qurate Retail's 8¼% senior notes due 2030 (Caa2/CCC-) picked up 3 points to hit 31 bid, a source reported.
QVC’s 4¾% senior secured notes due 2027 (B2/B-) climbed more than 7 points to 66¼ bid on $8.54 million of volume.
Level 3 Financing, Inc.’s 4¼% senior notes due 2028 (B3/CCC+/CCC+) headed out flat at 48 bid on $8.3 million of trading, a source said.
The bonds were ending the week about 10 points lower.
Parent Lumen Technologies, Inc.’s 4% senior secured notes due 2027 (Caa2/B/B-) declined 1 point to 57 bid on $7 million of volume.
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