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DISH shows gains; Virgin Media stronger; iHeartMedia, QVC mixed; Diebold declines
By Cristal Cody
Tupelo, Miss., June 1 – DISH Network Corp.’s paper saw a bit of a turnaround on Thursday with the notes up more than 1 point, while the company’s credit default swap spreads also showed improvement this week.
DISH DBS Corp.’s 7¾% senior notes due 2026 (B3/B-) were quoted going out up more than 1½ points at 58¾ bid on $10.5 million of secondary supply.
CDS spreads from both issuers tightened more than 250 basis points this week.
Trading action in Virgin Media Inc.’s 6 3/8% notes due 2028 (Caa3/CCC-) climbed on $16.5 million of volume, a source said.
The issue added over 1½ points to head out at 30½ bid.
Bonds from iHeartMedia, Inc. improved, though the company’s CDS spreads widened a third consecutive week.
iHeartCommunications, Inc.’s 8 3/8% senior notes due 2027 (Caa1/B-) rose over 1¼ points to the 57½ bid area, a source said.
Meanwhile, QVC Inc.’s bonds were mixed in mostly light activity on Thursday.
QVC’s 4 3/8% senior secured notes due 2028 (B2/B-) traded 1¼ points better at 59¼ bid, a source said.
Diebold Nixdorf Inc.’s 9 3/8% senior secured notes due 2025 (Caa2/CCC) went out down about 5 points at 16 bid after the company reported it filed an expected Chapter 11 bankruptcy filing, a source said.
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