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Diebold Nixdorf up after earnings, maturities news; PG&E lower as wildfire fund detailed
By James McCandless
San Antonio, July 25 – As the week started to wind down, the distressed space spent much of Thursday with continued attention paid to oil and utilities tranches.
Diebold Nixdorf, Inc.’s notes pushed up after the company released its second-quarter earnings report and announced a new revolving credit facility.
The 8½% senior notes due 2024 picked up 5¼ points to close at 98½ bid.
Meanwhile, utilities name PG&E Corp.’s issues traded lower as the company committed billions to a new wildfire insurance fund.
The 4% senior notes due 2046 shaved off ½ point to close at 91¾ bid. The 6.05% notes due 2034 fell ½ point to close at 115 bid.
Telecom name Frontier Communications Corp.’s paper saw non-cohesive movement after a ratings downgrade.
In oil and gas, Superior Energy Services, Inc.’s notes skewed level-to-higher in the wake of its own earnings report.
Sector peers California Resources Corp.’s and Talen Energy Corp.’s issues followed positive oil futures as EP Energy Corp.’s paper dipped.
In pharma, Teva Pharmaceutical Industries Ltd.’s and Mallinckrodt plc’s notes were trending upward.
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