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Diamond Sports declines; CBL lower; Talen gains; EnLink up; Envision Healthcare softens
By Cristal Cody
Tupelo, Miss., Oct. 18 – Diamond Sports Group LLC’s bonds remained under pressure on Monday with the notes down 2 points to 3¼ points as parent Sinclair Broadcast Group Inc. seeks new funding.
Diamond Sports’ 5 3/8% senior secured notes due 2026 (Caa1/CCC) declined 2 points to 57½ bid on $17 million of secondary demand, a source said.
Elsewhere, CBL & Associates LP’s bonds settled back to the high 60s after trading as high as 74¼ bid on Friday following the company’s announcement of a new board member and impending Chapter 11 bankruptcy exit.
CBL’s 5¼% notes due 2023 were quoted at 69½ bid.
In distressed energy issues, Talen Energy Supply LLC’s bonds traded about 1 3/8 points to 3 5/8 points higher with the 10½% senior notes due 2026 (B3/CCC/B) up 3 5/8 points to 60 bid.
EnLink Midstream Partners LP’s 6% perpetual preferreds (B1/B+/BB-) improved 1 3/8 points to 79½ bid on $11 million of volume, a source said.
In the distressed health care space, Envision Healthcare Corp.’s 8¾% senior notes due 2026 (Ca/CC) fell more than 1½ points to 69 3/8 bid on $2 million of trading supply on Monday.
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