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QVC owner’s bonds under pressure; Endo edges up; bankrupt Talen Energy paper declines
By Cristal Cody
Tupelo, Miss., May 17 – Qurate Retail Inc.’s notes are treading closer to its lows from the pandemic throes of March 2020 with the paper down about 15 points so far in May.
The shopping network owner’s 8½% senior debentures due 2029 (B2/B) declined over 1¾ points on Tuesday to 76½ bid, a market source said.
The company’s paper had recovered from sinking to a low of 62¼ bid in March 2020 to trading in the 115½ bid range in September.
Endo International plc’s 7½% senior secured notes due 2027 (B3/B-) caught the bulk of attention in the distressed secondary market on Tuesday, a source said.
The issue traded modestly higher at 77 bid on $20 million of volume.
Endo’s notes were down 1/8 point on Monday at 76 5/8 bid on $18 million of volume.
Talen Energy Supply LLC’s bonds were finishing Tuesday down about 1¾ points to 2 points and trading in the low 50s since the company filed for Chapter 11 bankruptcy a week ago, a market source said.
Talen’s 6½% senior notes due 2025 (C/D/C) declined 2 points to 52½ bid on volume totaling $4 million during the session.
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